New Mexico Educational Retirement Board Takes Position in AppFolio, Inc. (NASDAQ:APPF)

New Mexico Educational Retirement Board acquired a new position in AppFolio, Inc. (NASDAQ:APPF) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,200 shares of the software maker’s stock, valued at approximately $1,027,000.

A number of other hedge funds also recently bought and sold shares of APPF. Victory Capital Management Inc. increased its holdings in shares of AppFolio by 1,164.1% in the 4th quarter. Victory Capital Management Inc. now owns 70,042 shares of the software maker’s stock valued at $12,134,000 after acquiring an additional 64,501 shares during the period. Natixis Advisors L.P. boosted its position in AppFolio by 15.6% during the fourth quarter. Natixis Advisors L.P. now owns 20,313 shares of the software maker’s stock valued at $3,519,000 after purchasing an additional 2,747 shares in the last quarter. Private Advisor Group LLC grew its stake in AppFolio by 19.9% in the fourth quarter. Private Advisor Group LLC now owns 2,100 shares of the software maker’s stock valued at $364,000 after purchasing an additional 348 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in AppFolio by 13.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 170,239 shares of the software maker’s stock worth $29,492,000 after purchasing an additional 20,166 shares in the last quarter. Finally, Versor Investments LP purchased a new stake in shares of AppFolio during the fourth quarter valued at about $277,000. Hedge funds and other institutional investors own 62.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. StockNews.com downgraded shares of AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. DA Davidson upped their price target on AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Piper Sandler Companies reiterated an “overweight” rating and set a $300.00 price objective on shares of AppFolio in a report on Friday, July 26th. Piper Sandler boosted their target price on AppFolio from $295.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Finally, KeyCorp increased their price target on AppFolio from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $277.75.

Insider Buying and Selling

In other AppFolio news, Director Timothy K. Bliss sold 15,000 shares of AppFolio stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $231.20, for a total transaction of $3,468,000.00. Following the completion of the sale, the director now directly owns 38,270 shares in the company, valued at approximately $8,848,024. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other AppFolio news, Director Timothy K. Bliss sold 15,000 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $231.20, for a total transaction of $3,468,000.00. Following the sale, the director now directly owns 38,270 shares of the company’s stock, valued at approximately $8,848,024. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William Shane Trigg sold 3,501 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $218.98, for a total value of $766,648.98. Following the completion of the transaction, the chief executive officer now directly owns 81,699 shares of the company’s stock, valued at approximately $17,890,447.02. The disclosure for this sale can be found here. In the last quarter, insiders have sold 93,624 shares of company stock worth $22,310,152. 9.15% of the stock is owned by company insiders.

AppFolio Price Performance

NASDAQ APPF opened at $222.92 on Friday. The company has a market cap of $8.07 billion, a price-to-earnings ratio of 107.69 and a beta of 0.81. The stock’s fifty day moving average price is $235.47 and its 200 day moving average price is $233.84. AppFolio, Inc. has a 1 year low of $164.29 and a 1 year high of $274.56.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Thursday, July 25th. The software maker reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.16. AppFolio had a return on equity of 27.39% and a net margin of 17.32%. The business had revenue of $197.38 million for the quarter, compared to analyst estimates of $190.57 million. During the same period in the prior year, the company earned ($0.53) earnings per share. The company’s revenue was up 34.2% on a year-over-year basis. Research analysts expect that AppFolio, Inc. will post 3.04 earnings per share for the current year.

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.