Teacher Retirement System of Texas Buys 924 Shares of AppFolio, Inc. (NASDAQ:APPF)

Teacher Retirement System of Texas increased its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 12.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,261 shares of the software maker’s stock after buying an additional 924 shares during the quarter. Teacher Retirement System of Texas’ holdings in AppFolio were worth $1,431,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Jennison Associates LLC acquired a new position in AppFolio in the third quarter valued at about $372,000. Lisanti Capital Growth LLC acquired a new position in shares of AppFolio in the 3rd quarter worth approximately $4,287,000. NBC Securities Inc. bought a new stake in AppFolio during the 3rd quarter worth approximately $625,000. Victory Capital Management Inc. increased its holdings in AppFolio by 175.1% during the 3rd quarter. Victory Capital Management Inc. now owns 5,541 shares of the software maker’s stock valued at $1,012,000 after purchasing an additional 3,527 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its position in AppFolio by 25.1% in the 3rd quarter. Los Angeles Capital Management LLC now owns 10,767 shares of the software maker’s stock valued at $1,966,000 after purchasing an additional 2,163 shares during the last quarter. Institutional investors and hedge funds own 62.34% of the company’s stock.

Insider Buying and Selling at AppFolio

In other news, Director Alexander Wolf sold 10,000 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $250.26, for a total transaction of $2,502,600.00. Following the completion of the transaction, the director now directly owns 182,584 shares in the company, valued at approximately $45,693,471.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other AppFolio news, Director Blottnitz Andreas Von sold 4,500 shares of AppFolio stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $226.56, for a total transaction of $1,019,520.00. Following the transaction, the director now directly owns 5,449 shares in the company, valued at $1,234,525.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Alexander Wolf sold 10,000 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $250.26, for a total value of $2,502,600.00. Following the completion of the sale, the director now owns 182,584 shares of the company’s stock, valued at $45,693,471.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,620 shares of company stock valued at $6,565,210. 9.15% of the stock is currently owned by company insiders.

AppFolio Price Performance

APPF opened at $240.59 on Monday. The firm has a 50 day simple moving average of $232.05 and a 200 day simple moving average of $211.58. AppFolio, Inc. has a fifty-two week low of $138.49 and a fifty-two week high of $256.73. The company has a market cap of $8.71 billion, a price-to-earnings ratio of 116.23 and a beta of 0.79.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, April 25th. The software maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.59 by $0.09. AppFolio had a net margin of 11.38% and a return on equity of 13.51%. The company had revenue of $187.43 million during the quarter, compared to analysts’ expectations of $173.66 million. As a group, analysts expect that AppFolio, Inc. will post 2.87 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on APPF. Stephens restated an “overweight” rating and issued a $241.00 target price on shares of AppFolio in a research note on Friday, April 26th. JPMorgan Chase & Co. boosted their target price on shares of AppFolio from $228.00 to $237.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. KeyCorp increased their price target on shares of AppFolio from $264.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of AppFolio from $215.00 to $238.00 and gave the stock a “market perform” rating in a research report on Friday, April 26th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $241.00.

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.