AppFolio, Inc. $APPF Shares Acquired by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp lifted its holdings in AppFolio, Inc. (NASDAQ:APPF) by 44.3% during the second quarter, Holdings Channel reports. The fund owned 13,790 shares of the software maker’s stock after buying an additional 4,231 shares during the quarter. Texas Permanent School Fund Corp’s holdings in AppFolio were worth $3,176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in APPF. ProShare Advisors LLC boosted its holdings in AppFolio by 3.6% in the second quarter. ProShare Advisors LLC now owns 1,078 shares of the software maker’s stock valued at $248,000 after purchasing an additional 37 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in shares of AppFolio by 0.5% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 9,041 shares of the software maker’s stock valued at $2,082,000 after buying an additional 44 shares during the period. Woodline Partners LP boosted its stake in shares of AppFolio by 2.9% in the first quarter. Woodline Partners LP now owns 1,754 shares of the software maker’s stock worth $386,000 after buying an additional 50 shares during the last quarter. Somerset Trust Co grew its holdings in AppFolio by 6.7% during the second quarter. Somerset Trust Co now owns 1,105 shares of the software maker’s stock worth $254,000 after acquiring an additional 69 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in AppFolio by 23.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 384 shares of the software maker’s stock worth $84,000 after acquiring an additional 73 shares during the period. Hedge funds and other institutional investors own 85.19% of the company’s stock.

Insider Activity at AppFolio

In related news, CEO William Shane Trigg sold 3,947 shares of AppFolio stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $240.45, for a total value of $949,056.15. Following the sale, the chief executive officer directly owned 51,530 shares in the company, valued at approximately $12,390,388.50. The trade was a 7.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Evan Pickering sold 334 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $243.67, for a total value of $81,385.78. Following the sale, the general counsel owned 2,969 shares of the company’s stock, valued at approximately $723,456.23. This trade represents a 10.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 8,745 shares of company stock valued at $2,097,550. 4.68% of the stock is owned by corporate insiders.

AppFolio Stock Performance

Shares of NASDAQ APPF opened at $233.69 on Friday. The firm has a fifty day moving average of $237.10 and a 200 day moving average of $250.57. The firm has a market cap of $8.39 billion, a PE ratio of 41.96 and a beta of 0.80. AppFolio, Inc. has a one year low of $190.24 and a one year high of $326.04.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings data on Thursday, October 30th. The software maker reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by ($0.14). AppFolio had a net margin of 22.48% and a return on equity of 25.97%. The company had revenue of $249.35 million for the quarter, compared to analysts’ expectations of $245.39 million. During the same period in the previous year, the business earned $1.29 earnings per share. The business’s revenue for the quarter was up 21.2% on a year-over-year basis. On average, equities analysts predict that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

Analyst Ratings Changes

APPF has been the topic of several recent research reports. Weiss Ratings restated a “buy (b-)” rating on shares of AppFolio in a research report on Monday. UBS Group began coverage on shares of AppFolio in a research note on Friday, December 12th. They issued a “buy” rating and a $285.00 target price for the company. Keefe, Bruyette & Woods raised shares of AppFolio from a “market perform” rating to an “outperform” rating and set a $311.00 price target on the stock in a report on Friday, October 24th. KeyCorp reaffirmed an “overweight” rating on shares of AppFolio in a report on Tuesday. Finally, DA Davidson reiterated a “buy” rating and issued a $325.00 price objective on shares of AppFolio in a research report on Wednesday, November 19th. Eight analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $306.00.

About AppFolio

AppFolio, Inc is a Santa Barbara–based provider of cloud-based software solutions for the property management and legal industries. Founded in 2006 by former software executives, the company went public on the NASDAQ under the symbol APPF in 2015. Its original offering, AppFolio Property Manager, automates accounting, marketing, leasing, and maintenance functions for residential, commercial, student housing, and community association managers.

In 2019, AppFolio expanded its portfolio with the acquisition of MyCase, a web-based legal practice management platform for small to mid-size law firms.