AppFolio, Inc. (NASDAQ:APPF) Shares Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board raised its holdings in AppFolio, Inc. (NASDAQ:APPF) by 5.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 14,800 shares of the software maker’s stock after acquiring an additional 800 shares during the period. Canada Pension Plan Investment Board’s holdings in AppFolio were worth $3,620,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC raised its holdings in AppFolio by 0.9% in the 2nd quarter. Brighton Jones LLC now owns 5,805 shares of the software maker’s stock valued at $1,420,000 after acquiring an additional 49 shares during the last quarter. XTX Topco Ltd acquired a new position in AppFolio in the 2nd quarter valued at $808,000. Hsbc Holdings PLC raised its holdings in AppFolio by 124.7% in the 2nd quarter. Hsbc Holdings PLC now owns 2,359 shares of the software maker’s stock valued at $574,000 after acquiring an additional 1,309 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in AppFolio by 48.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 1,759 shares of the software maker’s stock valued at $430,000 after acquiring an additional 574 shares during the last quarter. Finally, Amalgamated Bank raised its holdings in AppFolio by 1.3% in the 2nd quarter. Amalgamated Bank now owns 10,945 shares of the software maker’s stock valued at $2,677,000 after acquiring an additional 144 shares during the last quarter. 62.34% of the stock is currently owned by institutional investors and hedge funds.

AppFolio Trading Down 1.8 %

Shares of AppFolio stock opened at $234.14 on Thursday. The company has a fifty day moving average price of $229.05 and a 200 day moving average price of $233.35. AppFolio, Inc. has a twelve month low of $164.29 and a twelve month high of $274.56. The stock has a market cap of $8.49 billion, a price-to-earnings ratio of 113.11 and a beta of 0.81.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, July 25th. The software maker reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.16. AppFolio had a net margin of 17.32% and a return on equity of 27.39%. The firm had revenue of $197.38 million during the quarter, compared to analysts’ expectations of $190.57 million. During the same period in the prior year, the company earned ($0.53) EPS. The firm’s revenue was up 34.2% on a year-over-year basis. Analysts forecast that AppFolio, Inc. will post 3.04 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. StockNews.com cut shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Piper Sandler Companies reissued an “overweight” rating and set a $300.00 price objective on shares of AppFolio in a research note on Friday, July 26th. JPMorgan Chase & Co. boosted their price objective on shares of AppFolio from $260.00 to $328.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. KeyCorp boosted their price objective on shares of AppFolio from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, Piper Sandler boosted their price objective on shares of AppFolio from $295.00 to $300.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $277.75.

Insider Buying and Selling

In related news, major shareholder Klaus Schauser sold 1,000 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $260.00, for a total transaction of $260,000.00. Following the completion of the sale, the insider now directly owns 504,000 shares of the company’s stock, valued at approximately $131,040,000. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other AppFolio news, major shareholder Klaus Schauser sold 1,000 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $260.00, for a total value of $260,000.00. Following the completion of the transaction, the insider now directly owns 504,000 shares of the company’s stock, valued at approximately $131,040,000. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Maurice J. Duca sold 3,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $243.15, for a total transaction of $729,450.00. Following the completion of the transaction, the insider now directly owns 17,491 shares of the company’s stock, valued at $4,252,936.65. The disclosure for this sale can be found here. In the last three months, insiders sold 50,032 shares of company stock valued at $12,065,684. Company insiders own 9.15% of the company’s stock.

AppFolio Company Profile

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.