Teacher Retirement System of Texas Purchases 10,230 Shares of AppFolio, Inc. (NASDAQ:APPF)

Teacher Retirement System of Texas raised its stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 99.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,553 shares of the software maker's stock after purchasing an additional 10,230 shares during the period. Teacher Retirement System of Texas owned approximately 0.06% of AppFolio worth $5,071,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. UMB Bank n.a. increased its holdings in AppFolio by 193.0% in the 4th quarter. UMB Bank n.a. now owns 167 shares of the software maker's stock valued at $41,000 after buying an additional 110 shares during the period. Arcadia Investment Management Corp MI acquired a new position in AppFolio during the 4th quarter worth about $50,000. EverSource Wealth Advisors LLC lifted its position in AppFolio by 1,485.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 222 shares of the software maker's stock worth $55,000 after buying an additional 208 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in AppFolio by 60.4% during the 4th quarter. Jones Financial Companies Lllp now owns 247 shares of the software maker's stock worth $61,000 after acquiring an additional 93 shares during the last quarter. Finally, Blue Trust Inc. increased its position in AppFolio by 126.5% in the 4th quarter. Blue Trust Inc. now owns 265 shares of the software maker's stock valued at $62,000 after acquiring an additional 148 shares in the last quarter. 85.19% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of brokerages have recently issued reports on APPF. KeyCorp lowered shares of AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 target price on the stock. in a research report on Friday, January 10th. Stephens reaffirmed an "overweight" rating and set a $295.00 price objective on shares of AppFolio in a report on Friday, January 31st. Piper Sandler reissued a "neutral" rating and issued a $265.00 target price on shares of AppFolio in a research note on Friday, January 31st. Finally, William Blair reiterated an "outperform" rating on shares of AppFolio in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $276.29.

Insiders Place Their Bets

In related news, Director Alexander Wolf acquired 9,678 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The shares were acquired at an average cost of $214.81 per share, with a total value of $2,078,931.18. Following the transaction, the director now owns 3,226 shares of the company's stock, valued at $692,977.06. The trade was a -150.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Matthew S. Mazza sold 838 shares of the company's stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $255.30, for a total transaction of $213,941.40. Following the completion of the transaction, the insider now directly owns 22,701 shares of the company's stock, valued at approximately $5,795,565.30. The trade was a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.24% of the company's stock.

AppFolio Price Performance

Shares of AppFolio stock traded up $7.72 during trading on Tuesday, hitting $228.32. 108,231 shares of the company were exchanged, compared to its average volume of 266,255. The firm has a market capitalization of $8.31 billion, a P/E ratio of 41.14 and a beta of 0.89. The firm's fifty day moving average price is $227.40 and its 200 day moving average price is $232.45. AppFolio, Inc. has a 1-year low of $189.01 and a 1-year high of $274.56.

AppFolio (NASDAQ:APPF - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The software maker reported $0.58 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.92 by ($0.34). AppFolio had a net margin of 25.69% and a return on equity of 26.21%. As a group, equities research analysts anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current year.

AppFolio 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.