New York State Common Retirement Fund Has $44.47 Million Stock Position in AppFolio, Inc. (NASDAQ:APPF)

New York State Common Retirement Fund reduced its position in AppFolio, Inc. (NASDAQ:APPF) by 28.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 188,922 shares of the software maker’s stock after selling 76,254 shares during the period. New York State Common Retirement Fund’s holdings in AppFolio were worth $44,472,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of APPF. Blue Trust Inc. increased its stake in AppFolio by 85.7% in the third quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock valued at $29,000 after acquiring an additional 54 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of AppFolio by 589.5% during the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after purchasing an additional 112 shares during the period. CWM LLC lifted its holdings in shares of AppFolio by 238.6% during the second quarter. CWM LLC now owns 149 shares of the software maker’s stock worth $36,000 after purchasing an additional 105 shares during the period. Advisors Asset Management Inc. lifted its holdings in shares of AppFolio by 291.3% during the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock worth $44,000 after purchasing an additional 134 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in AppFolio by 688.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock valued at $52,000 after buying an additional 186 shares during the period. 62.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods lowered shares of AppFolio from a “market perform” rating to an “underperform” rating and dropped their target price for the company from $255.00 to $193.00 in a report on Tuesday, October 15th. JPMorgan Chase & Co. boosted their target price on shares of AppFolio from $260.00 to $328.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $300.00 price target on shares of AppFolio in a research note on Friday, July 26th. KeyCorp decreased their price target on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Finally, StockNews.com downgraded shares of AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $261.75.

AppFolio Trading Up 0.3 %

AppFolio stock opened at $208.52 on Friday. The firm’s 50 day simple moving average is $222.26 and its 200 day simple moving average is $230.57. The firm has a market capitalization of $7.56 billion, a PE ratio of 58.08 and a beta of 0.81. AppFolio, Inc. has a 1-year low of $164.29 and a 1-year high of $274.56.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.26. The firm had revenue of $206.00 million for the quarter, compared to analyst estimates of $199.11 million. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The business’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.26 EPS. Research analysts forecast that AppFolio, Inc. will post 3.2 earnings per share for the current year.

Insider Activity at AppFolio

In other AppFolio news, major shareholder Maurice J. Duca sold 1,296 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $236.77, for a total transaction of $306,853.92. Following the completion of the sale, the insider now owns 9,383 shares of the company’s stock, valued at $2,221,612.91. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Matthew S. Mazza sold 2,371 shares of AppFolio stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $221.22, for a total transaction of $524,512.62. Following the completion of the transaction, the insider now directly owns 39,980 shares of the company’s stock, valued at $8,844,375.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Maurice J. Duca sold 1,296 shares of AppFolio stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $236.77, for a total transaction of $306,853.92. Following the transaction, the insider now directly owns 9,383 shares of the company’s stock, valued at approximately $2,221,612.91. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,652 shares of company stock valued at $4,053,818. Insiders own 5.24% of the company’s stock.

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.