Retirement Systems of Alabama Purchases 225 Shares of AppFolio, Inc. (NASDAQ:APPF)

Retirement Systems of Alabama grew its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 0.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,289 shares of the software maker’s stock after acquiring an additional 225 shares during the quarter. Retirement Systems of Alabama’s holdings in AppFolio were worth $6,221,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. increased its holdings in shares of AppFolio by 330.2% during the first quarter. Blue Trust Inc. now owns 271 shares of the software maker’s stock valued at $60,000 after acquiring an additional 208 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of AppFolio during the first quarter valued at approximately $420,000. Johnson Investment Counsel Inc. bought a new stake in shares of AppFolio during the first quarter valued at approximately $2,379,000. State of Alaska Department of Revenue boosted its position in shares of AppFolio by 3.2% during the first quarter. State of Alaska Department of Revenue now owns 2,720 shares of the software maker’s stock valued at $598,000 after buying an additional 85 shares during the last quarter. Finally, Precision Wealth Strategies LLC purchased a new position in shares of AppFolio during the first quarter valued at approximately $510,000. Institutional investors own 85.19% of the company’s stock.

Insider Activity

In other news, CFO Timothy Mathias Eaton sold 1,057 shares of the company’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $221.13, for a total transaction of $233,734.41. Following the transaction, the chief financial officer now owns 7,176 shares of the company’s stock, valued at $1,586,828.88. This represents a 12.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Elizabeth Erin Barat sold 4,682 shares of the company’s stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $227.79, for a total value 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 represents a 20.71% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 18,500 shares of company stock valued at $4,024,220 and have sold 11,639 shares valued at $2,547,802. Insiders own 4.68% of the company’s stock.

AppFolio Trading Up 1.8%

APPF stock opened at $232.58 on Wednesday. The stock’s fifty day simple moving average is $216.17 and its two-hundred day simple moving average is $227.39. AppFolio, Inc. has a 1-year low of $189.01 and a 1-year high of $274.56. The stock has a market cap of $8.38 billion, a P/E ratio of 43.39 and a beta of 0.87.

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

Analyst Ratings Changes

Several brokerages recently issued reports on APPF. Keefe, Bruyette & Woods cut their target price on AppFolio from $210.00 to $205.00 and set an “underweight” rating on the stock in a research report on Friday, April 25th. DA Davidson raised AppFolio to a “strong-buy” rating in a research report on Tuesday, May 13th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $265.00 target price on shares of AppFolio in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $274.43.

AppFolio 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.