New York State Common Retirement Fund Sells 39,535 Shares of AppFolio, Inc. (NASDAQ:APPF)

New York State Common Retirement Fund trimmed its position in AppFolio, Inc. (NASDAQ:APPF) by 12.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 275,494 shares of the software maker’s stock after selling 39,535 shares during the quarter. New York State Common Retirement Fund owned approximately 0.77% of AppFolio worth $47,727,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in AppFolio in the 3rd quarter worth approximately $531,000. Harbor Capital Advisors Inc. increased its holdings in shares of AppFolio by 10.3% in the third quarter. Harbor Capital Advisors Inc. now owns 3,575 shares of the software maker’s stock worth $653,000 after purchasing an additional 334 shares during the period. Cavalier Investments LLC raised its position in shares of AppFolio by 3.8% in the third quarter. Cavalier Investments LLC now owns 9,678 shares of the software maker’s stock worth $1,767,000 after buying an additional 350 shares in the last quarter. Arcadia Investment Management Corp MI boosted its stake in AppFolio by 70.4% during the third quarter. Arcadia Investment Management Corp MI now owns 138 shares of the software maker’s stock valued at $25,000 after buying an additional 57 shares during the period. Finally, Verdence Capital Advisors LLC boosted its stake in AppFolio by 7.2% during the third quarter. Verdence Capital Advisors LLC now owns 2,059 shares of the software maker’s stock valued at $376,000 after buying an additional 139 shares during the period. 62.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

APPF has been the subject of a number of research analyst reports. KeyCorp lifted their price target on AppFolio from $254.00 to $264.00 and gave the company an “overweight” rating in a research report on Monday, March 18th. BTIG Research initiated coverage on shares of AppFolio in a research note on Friday, January 19th. They issued a “buy” rating and a $215.00 price target for the company. Stephens restated an “overweight” rating and set a $241.00 price objective on shares of AppFolio in a research report on Friday, January 26th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of AppFolio from $228.00 to $237.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, AppFolio presently has an average rating of “Moderate Buy” and an average target price of $239.40.

AppFolio Stock Down 1.6 %

Shares of NASDAQ:APPF opened at $215.90 on Thursday. The company’s fifty day moving average is $230.24 and its 200 day moving average is $204.53. AppFolio, Inc. has a 52 week low of $123.36 and a 52 week high of $253.42. The stock has a market cap of $7.74 billion, a PE ratio of 7,199.07 and a beta of 0.80.

AppFolio (NASDAQ:APPF) last released its earnings results on Thursday, January 25th. The software maker reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.29. The company had revenue of $171.83 million during the quarter, compared to analyst estimates of $162.80 million. AppFolio had a negative return on equity of 8.58% and a net margin of 0.44%. Sell-side analysts anticipate that AppFolio, Inc. will post 2.66 EPS for the current year.

Insiders Place Their Bets

In other news, Director Olivia Nottebohm sold 989 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $241.75, for a total transaction of $239,090.75. Following the completion of the sale, the director now owns 1,909 shares of the company’s stock, valued at $461,500.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Olivia Nottebohm sold 989 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $241.75, for a total transaction of $239,090.75. Following the completion of the sale, the director now directly owns 1,909 shares in the company, valued at approximately $461,500.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Timothy K. Bliss sold 10,000 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $227.24, for a total transaction of $2,272,400.00. Following the completion of the sale, the director now directly owns 51,070 shares in the company, valued at approximately $11,605,146.80. The disclosure for this sale can be found here. Insiders have sold 15,489 shares of company stock valued at $3,531,011 in the last ninety days. Company insiders own 9.15% of the company’s stock.

About AppFolio

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.