State of Alaska Department of Revenue Acquires 85 Shares of AppFolio, Inc. (NASDAQ:APPF)

State of Alaska Department of Revenue raised its holdings in shares of AppFolio, Inc. (NASDAQ:APPF) by 3.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,720 shares of the software maker’s stock after purchasing an additional 85 shares during the quarter. State of Alaska Department of Revenue’s holdings in AppFolio were worth $598,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of APPF. FMR LLC lifted its position in AppFolio by 881.2% during the fourth quarter. FMR LLC now owns 597,485 shares of the software maker’s stock valued at $147,411,000 after purchasing an additional 536,591 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC bought a new position in AppFolio during the fourth quarter valued at $103,503,000. Norges Bank bought a new position in AppFolio during the fourth quarter valued at $68,037,000. AQR Capital Management LLC lifted its position in AppFolio by 43.2% during the fourth quarter. AQR Capital Management LLC now owns 655,625 shares of the software maker’s stock valued at $161,756,000 after purchasing an additional 197,700 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in AppFolio by 227.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 233,892 shares of the software maker’s stock valued at $57,706,000 after purchasing an additional 162,540 shares during the last quarter. Institutional investors own 85.19% of the company’s stock.

AppFolio Trading Down 0.9%

AppFolio stock opened at $227.33 on Friday. The firm has a 50-day moving average price of $216.81 and a 200-day moving average price of $226.80. The firm has a market capitalization of $8.19 billion, a PE ratio of 42.41 and a beta of 0.87. AppFolio, Inc. has a 12-month low of $189.01 and a 12-month high of $274.56.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Thursday, April 24th. The software maker reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). AppFolio had a net margin of 23.87% and a return on equity of 25.83%. The company had revenue of $217.70 million for the quarter, compared to the consensus estimate of $220.95 million. During the same quarter in the previous year, the business earned $1.05 EPS. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. As a group, sell-side analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

APPF has been the subject of several research reports. DA Davidson upgraded shares of AppFolio to a “strong-buy” rating in a research report on Tuesday, May 13th. Keefe, Bruyette & Woods lowered their target price on shares of AppFolio from $210.00 to $205.00 and set an “underweight” rating for the company in a report on Friday, April 25th. Finally, Piper Sandler restated a “neutral” rating and issued a $265.00 target price on shares of AppFolio in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, AppFolio has an average rating of “Moderate Buy” and a consensus price target of $274.43.

Insider Activity at AppFolio

In related news, CFO Timothy Mathias Eaton sold 1,057 shares of AppFolio stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $221.13, for a total transaction of $233,734.41. Following the completion of the sale, the chief financial officer now owns 7,176 shares in the company, valued at $1,586,828.88. This trade represents a 12.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Elizabeth Erin Barat sold 4,682 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $227.79, for a total transaction of $1,066,512.78. Following the transaction, the insider now directly owns 17,926 shares in the company, valued at $4,083,363.54. This trade represents a 20.71% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 18,500 shares of company stock worth $4,024,220 and sold 11,639 shares worth $2,547,802. 4.68% of the stock is currently owned by company insiders.

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.