New York State Teachers Retirement System Grows Stock Holdings in AppFolio, Inc. $APPF

New York State Teachers Retirement System lifted its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 1.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,940 shares of the software maker’s stock after purchasing an additional 167 shares during the period. New York State Teachers Retirement System’s holdings in AppFolio were worth $2,059,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Delap Wealth Advisory LLC acquired a new position in AppFolio during the second quarter worth $202,000. Verdence Capital Advisors LLC raised its holdings in shares of AppFolio by 45.0% during the 2nd quarter. Verdence Capital Advisors LLC now owns 4,195 shares of the software maker’s stock worth $966,000 after acquiring an additional 1,302 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position in shares of AppFolio by 195.3% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,634 shares of the software maker’s stock valued at $1,297,000 after acquiring an additional 3,726 shares during the last quarter. Index Fund Advisors Inc. purchased a new stake in shares of AppFolio in the second quarter valued at about $777,000. Finally, Johnson Investment Counsel Inc. grew its holdings in shares of AppFolio by 22.4% in the second quarter. Johnson Investment Counsel Inc. now owns 13,242 shares of the software maker’s stock valued at $3,049,000 after purchasing an additional 2,422 shares during the period. Institutional investors and hedge funds own 85.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. DA Davidson reaffirmed a “buy” rating and set a $350.00 target price on shares of AppFolio in a research note on Friday, August 1st. Keefe, Bruyette & Woods lifted their price target on shares of AppFolio from $295.00 to $311.00 and gave the company a “market perform” rating in a research report on Wednesday, September 3rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of AppFolio in a research report on Wednesday, October 8th. KeyCorp raised AppFolio from a “sector weight” rating to an “overweight” rating and set a $285.00 target price for the company in a research note on Friday, October 17th. Finally, Piper Sandler raised AppFolio from a “neutral” rating to an “overweight” rating and upped their price target for the company from $240.00 to $350.00 in a research note on Friday, August 1st. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $318.20.

AppFolio Stock Performance

AppFolio stock opened at $240.31 on Wednesday. The firm has a 50 day moving average price of $264.54 and a 200 day moving average price of $243.51. AppFolio, Inc. has a fifty-two week low of $189.01 and a fifty-two week high of $326.04. The company has a market capitalization of $8.62 billion, a PE ratio of 43.38 and a beta of 0.83.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, July 31st. The software maker reported $1.38 EPS for the quarter, topping the consensus estimate of $1.27 by $0.11. AppFolio had a return on equity of 26.32% and a net margin of 23.54%.The business had revenue of $235.58 million during the quarter, compared to analyst estimates of $230.10 million. During the same period last year, the business posted $1.12 earnings per share. The company’s quarterly revenue was up 19.4% on a year-over-year basis. AppFolio has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Insider Activity at AppFolio

In other AppFolio news, major shareholder Klaus Schauser sold 3,000 shares of AppFolio stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $295.14, for a total value of $885,420.00. Following the completion of the transaction, the insider directly owned 300,000 shares of the company’s stock, valued at $88,542,000. The trade was a 0.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William Shane Trigg sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $276.95, for a total transaction of $1,107,800.00. Following the completion of the transaction, the chief executive officer directly owned 59,556 shares of the company’s stock, valued at approximately $16,494,034.20. The trade was a 6.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,803 shares of company stock worth $16,938,949 in the last three months. 4.68% of the stock is owned by company insiders.

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.