Arizona State Retirement System Sells 60 Shares of AppFolio, Inc. (NASDAQ:APPF)

Arizona State Retirement System lowered its holdings in shares of AppFolio, Inc. (NASDAQ:APPF) by 0.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,274 shares of the software maker’s stock after selling 60 shares during the quarter. Arizona State Retirement System’s holdings in AppFolio were worth $1,380,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Colonial Trust Co SC bought a new stake in AppFolio during the 4th quarter valued at $28,000. Fifth Third Bancorp grew its stake in AppFolio by 53.0% during the 1st quarter. Fifth Third Bancorp now owns 179 shares of the software maker’s stock valued at $39,000 after purchasing an additional 62 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of AppFolio by 4,975.0% in the first quarter. Versant Capital Management Inc now owns 203 shares of the software maker’s stock worth $45,000 after buying an additional 199 shares during the last quarter. Aster Capital Management DIFC Ltd boosted its stake in shares of AppFolio by 10,300.0% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 208 shares of the software maker’s stock worth $51,000 after buying an additional 206 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in AppFolio by 330.2% in the 1st quarter. Blue Trust Inc. now owns 271 shares of the software maker’s stock worth $60,000 after purchasing an additional 208 shares during the period. Hedge funds and other institutional investors own 85.19% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. DA Davidson upgraded AppFolio to a “strong-buy” rating in a research report on Tuesday, May 13th. Keefe, Bruyette & Woods cut their price target on AppFolio from $210.00 to $205.00 and set an “underweight” rating on the stock in a research note on Friday, April 25th. Finally, Piper Sandler lifted their target price on AppFolio from $208.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $261.33.

Insider Transactions at AppFolio

In other AppFolio news, CFO Timothy Mathias Eaton sold 1,057 shares of AppFolio stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $221.13, for a total transaction of $233,734.41. Following the transaction, the chief financial officer directly owned 7,176 shares in the company, valued at approximately $1,586,828.88. The trade was a 12.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William Shane Trigg sold 5,900 shares of the business’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $211.45, for a total transaction of $1,247,555.00. Following the transaction, the chief executive officer owned 70,647 shares in the company, valued at approximately $14,938,308.15. This represents a 7.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 18,500 shares of company stock valued at $4,024,220 and have sold 11,639 shares valued at $2,547,802. 4.68% of the stock is owned by corporate insiders.

AppFolio Stock Performance

NASDAQ:APPF opened at $250.95 on Friday. The company has a market capitalization of $9.04 billion, a price-to-earnings ratio of 46.82 and a beta of 0.88. AppFolio, Inc. has a one year low of $189.01 and a one year high of $274.56. The stock has a 50-day simple moving average of $225.31 and a 200 day simple moving average of $225.48.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results 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 business had revenue of $217.70 million for the quarter, compared to the consensus estimate of $220.95 million. During the same period last year, the firm posted $1.05 EPS. The business’s quarterly revenue was up 15.9% on a year-over-year basis. On average, equities research analysts forecast that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

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.