Louisiana State Employees Retirement System Grows Stock Holdings in AppFolio, Inc. (NASDAQ:APPF)

Louisiana State Employees Retirement System increased its holdings in shares of AppFolio, Inc. (NASDAQ:APPF) by 8.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,400 shares of the software maker’s stock after purchasing an additional 500 shares during the period. Louisiana State Employees Retirement System’s holdings in AppFolio were worth $1,507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in APPF. Blue Trust Inc. grew its position in AppFolio by 85.7% during the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock worth $29,000 after purchasing an additional 54 shares during the period. GAMMA Investing LLC grew its holdings in AppFolio by 589.5% during the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after acquiring an additional 112 shares during the period. CWM LLC raised its position in AppFolio by 238.6% during the second quarter. CWM LLC now owns 149 shares of the software maker’s stock valued at $36,000 after acquiring an additional 105 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in AppFolio by 291.3% in the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock valued at $44,000 after acquiring an additional 134 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its position in AppFolio by 688.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock worth $52,000 after purchasing an additional 186 shares in the last quarter. 62.34% of the stock is currently owned by institutional investors and hedge funds.

AppFolio Price Performance

NASDAQ APPF opened at $207.87 on Friday. The stock’s 50 day simple moving average is $223.04 and its 200-day simple moving average is $230.78. The company has a market cap of $7.53 billion, a PE ratio of 100.42 and a beta of 0.81. AppFolio, Inc. has a 1-year low of $164.29 and a 1-year high of $274.56.

AppFolio (NASDAQ:APPF) last announced its earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.26. The company had revenue of $206.00 million for the quarter, compared to analysts’ expectations of $199.11 million. AppFolio had a net margin of 17.32% and a return on equity of 27.39%. The firm’s quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.26 EPS. On average, equities research analysts anticipate that AppFolio, Inc. will post 3.04 EPS for the current fiscal year.

Insider Activity at AppFolio

In other AppFolio news, major shareholder Maurice J. Duca sold 200 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $232.18, for a total value of $46,436.00. Following the transaction, the insider now directly owns 18,922 shares of the company’s stock, valued at $4,393,309.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, major shareholder Maurice J. Duca sold 200 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $232.18, for a total value of $46,436.00. Following the completion of the sale, the insider now directly owns 18,922 shares in the company, valued at $4,393,309.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Matthew S. Mazza sold 2,371 shares of AppFolio stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $221.22, for a total value of $524,512.62. Following the transaction, the insider now owns 39,980 shares in the company, valued at approximately $8,844,375.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,652 shares of company stock valued at $4,053,818. Corporate insiders own 9.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on APPF. DA Davidson boosted their target price on shares of AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Piper Sandler lowered their target price on shares of AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. StockNews.com cut AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $300.00 price target on shares of AppFolio in a report on Friday, July 26th. Finally, KeyCorp dropped their price objective on AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, AppFolio currently has a consensus rating of “Moderate Buy” and a consensus price target of $261.75.

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.