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

New York State Common Retirement Fund lessened its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 12.5% in the 4th quarter, Holdings Channel reports. The firm owned 275,494 shares of the software maker’s stock after selling 39,535 shares during the period. New York State Common Retirement Fund’s holdings in AppFolio were worth $47,727,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Lord Abbett & CO. LLC bought a new stake in AppFolio in the third quarter worth $33,062,000. Fuller & Thaler Asset Management Inc. bought a new stake in shares of AppFolio in the 3rd quarter worth about $13,698,000. WCM Investment Management LLC purchased a new stake in shares of AppFolio during the 4th quarter valued at about $12,941,000. Fred Alger Management LLC lifted its holdings in shares of AppFolio by 12.2% in the 3rd quarter. Fred Alger Management LLC now owns 572,007 shares of the software maker’s stock valued at $104,466,000 after acquiring an additional 62,347 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in shares of AppFolio by 490.8% in the 3rd quarter. Federated Hermes Inc. now owns 74,191 shares of the software maker’s stock valued at $13,550,000 after acquiring an additional 61,633 shares during the last quarter. Hedge funds and other institutional investors own 62.34% of the company’s stock.

Insider Activity at AppFolio

In other AppFolio news, Director Olivia Nottebohm sold 989 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $241.75, for a total value of $239,090.75. Following the completion of the sale, the director now directly owns 1,909 shares of the company’s stock, valued at approximately $461,500.75. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, 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 transaction, the director now owns 51,070 shares in the company, valued at $11,605,146.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Olivia Nottebohm sold 989 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $241.75, for a total transaction of $239,090.75. Following the transaction, the director now owns 1,909 shares in the company, valued at $461,500.75. The disclosure for this sale can be found here. Insiders sold 15,489 shares of company stock worth $3,531,011 in the last 90 days. 9.15% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. KeyCorp upped their price objective on AppFolio from $254.00 to $264.00 and gave the company an “overweight” rating in a research report on Monday, March 18th. Stephens restated an “overweight” rating and issued a $241.00 price target on shares of AppFolio in a research report on Friday, January 26th. BTIG Research initiated coverage on shares of AppFolio in a research report on Friday, January 19th. They set a “buy” rating and a $215.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their target price 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 research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, AppFolio has a consensus rating of “Moderate Buy” and a consensus price target of $239.40.

AppFolio Stock Down 1.6 %

Shares of AppFolio stock opened at $215.90 on Thursday. The stock’s fifty day moving average is $230.24 and its two-hundred 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 company has a market capitalization of $7.74 billion, a PE ratio of 7,199.07 and a beta of 0.80.

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

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.