Retirement Systems of Alabama Increases Stock Position in AppFolio, Inc. (NASDAQ:APPF)

Retirement Systems of Alabama raised its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 0.4% in the 4th quarter, Holdings Channel reports. The firm owned 28,064 shares of the software maker’s stock after acquiring an additional 114 shares during the period. Retirement Systems of Alabama’s holdings in AppFolio were worth $6,924,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in APPF. Deepwater Asset Management LLC purchased a new position in AppFolio during the 4th quarter valued at approximately $15,483,000. SYM FINANCIAL Corp purchased a new position in shares of AppFolio in the fourth quarter valued at $292,000. Chicago Partners Investment Group LLC bought a new stake in AppFolio in the fourth quarter worth $257,000. KBC Group NV lifted its position in AppFolio by 65.5% during the fourth quarter. KBC Group NV now owns 1,023 shares of the software maker’s stock valued at $252,000 after purchasing an additional 405 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of AppFolio by 126.5% in the 4th quarter. Blue Trust Inc. now owns 265 shares of the software maker’s stock worth $62,000 after buying an additional 148 shares in the last quarter. 85.19% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Matthew S. Mazza sold 700 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $255.50, for a total value of $178,850.00. Following the sale, the insider now directly owns 27,566 shares in the company, valued at approximately $7,043,113. This trade represents a 2.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William Shane Trigg sold 3,500 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $229.85, for a total transaction of $804,475.00. Following the sale, the chief executive officer now directly owns 74,327 shares of the company’s stock, valued at $17,084,060.95. The trade was a 4.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,680 shares of company stock valued at $5,746,741 over the last 90 days. Corporate insiders own 5.24% of the company’s stock.

AppFolio Trading Down 1.6 %

Shares of APPF stock opened at $222.98 on Monday. The stock has a market capitalization of $8.10 billion, a price-to-earnings ratio of 40.18 and a beta of 0.88. AppFolio, Inc. has a twelve month low of $189.01 and a twelve month high of $274.56. The stock has a fifty day simple moving average of $251.43 and a two-hundred day simple moving average of $234.18.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, January 30th. The software maker reported $0.58 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%. Research analysts predict that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on APPF shares. Stephens restated an “overweight” rating and set a $295.00 price objective on shares of AppFolio in a research report on Friday, January 31st. Keefe, Bruyette & Woods lowered shares of AppFolio from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from $255.00 to $193.00 in a report on Tuesday, October 15th. Piper Sandler reissued a “neutral” rating and issued a $265.00 price objective on shares of AppFolio in a research report on Friday, January 31st. KeyCorp lowered AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 target price for the company. in a research report on Friday, January 10th. Finally, William Blair reissued an “outperform” rating on shares of AppFolio in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $276.29.

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.