Principal Financial Group Inc. Has $41.86 Million Position in AppFolio, Inc. (NASDAQ:APPF)

Principal Financial Group Inc. boosted its holdings in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 16.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 177,831 shares of the software maker's stock after purchasing an additional 24,697 shares during the quarter. Principal Financial Group Inc. owned about 0.49% of AppFolio worth $41,861,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Summit Global Investments purchased a new stake in AppFolio in the 3rd quarter valued at approximately $759,000. Captrust Financial Advisors boosted its stake in shares of AppFolio by 183.3% in the third quarter. Captrust Financial Advisors now owns 4,374 shares of the software maker's stock valued at $1,030,000 after buying an additional 2,830 shares in the last quarter. Baker Avenue Asset Management LP grew its holdings in AppFolio by 16.5% during the third quarter. Baker Avenue Asset Management LP now owns 21,483 shares of the software maker's stock worth $5,057,000 after acquiring an additional 3,038 shares during the period. TD Asset Management Inc raised its position in AppFolio by 48.1% in the second quarter. TD Asset Management Inc now owns 8,000 shares of the software maker's stock worth $1,957,000 after acquiring an additional 2,600 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in AppFolio by 56.6% in the third quarter. Advisors Asset Management Inc. now owns 390 shares of the software maker's stock valued at $92,000 after acquiring an additional 141 shares during the period. Institutional investors and hedge funds own 85.19% of the company's stock.

Insider Activity

In other news, insider Matthew S. Mazza sold 5,090 shares of the company's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $236.24, for a total value of $1,202,461.60. Following the sale, the insider now owns 28,266 shares of the company's stock, valued at approximately $6,677,559.84. This represents a 15.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William Shane Trigg sold 3,500 shares of the business's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $229.85, for a total value of $804,475.00. Following the completion of the transaction, the chief executive officer now directly owns 74,327 shares in the company, valued at $17,084,060.95. The trade was a 4.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,064 shares of company stock worth $6,051,745. Company insiders own 5.24% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on APPF shares. Keefe, Bruyette & Woods cut shares of AppFolio from a "market perform" rating to an "underperform" rating and dropped their price objective for the stock from $255.00 to $193.00 in a research note on Tuesday, October 15th. Piper Sandler cut their price target on AppFolio from $300.00 to $265.00 and set an "overweight" rating for the company in a report on Friday, October 25th. Finally, KeyCorp reduced their price objective on AppFolio from $300.00 to $252.00 and set an "overweight" rating on the stock in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, AppFolio presently has an average rating of "Moderate Buy" and a consensus price target of $261.75.

AppFolio Trading Up 1.5 %

NASDAQ APPF traded up $3.62 during trading on Tuesday, reaching $252.67. The company's stock had a trading volume of 50,878 shares, compared to its average volume of 267,491. The stock has a market capitalization of $9.18 billion, a PE ratio of 70.38 and a beta of 0.86. AppFolio, Inc. has a 1-year low of $164.29 and a 1-year high of $274.56. The business has a 50-day moving average price of $235.55 and a 200-day moving average price of $234.02.

AppFolio (NASDAQ:APPF - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 earnings per share for the quarter, topping analysts' consensus estimates of $1.03 by $0.26. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The business had revenue of $206.00 million during the quarter, compared to analysts' expectations of $199.11 million. During the same period in the previous year, the company earned $0.26 earnings per share. AppFolio's revenue for the quarter was up 24.5% on a year-over-year basis. As a group, analysts expect that AppFolio, Inc. will post 3.23 earnings per share for the current year.

AppFolio Company Profile

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry in the United States. The company provides a cloud-based platform that enables users to automate and optimize common workflows; tools that assist with leasing, maintenance, and accounting; and other technology and services offered by third parties.