Teachers Retirement System of The State of Kentucky Reduces Stock Position in AppFolio, Inc. (NASDAQ:APPF)

Teachers Retirement System of The State of Kentucky cut its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 5.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,200 shares of the software maker’s stock after selling 350 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in AppFolio were worth $1,530,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TFJ Management LLC bought a new position in shares of AppFolio in the 4th quarter worth approximately $5,495,000. Transce3nd LLC bought a new position in AppFolio in the fourth quarter worth approximately $83,000. Kayne Anderson Rudnick Investment Management LLC purchased a new position in shares of AppFolio during the 4th quarter worth $103,503,000. MetLife Investment Management LLC boosted its stake in shares of AppFolio by 8.4% during the 4th quarter. MetLife Investment Management LLC now owns 14,001 shares of the software maker’s stock worth $3,454,000 after acquiring an additional 1,084 shares during the last quarter. Finally, Natixis bought a new stake in shares of AppFolio during the 4th quarter valued at $572,000. 85.19% of the stock is owned by institutional investors.

Insider Buying and Selling at AppFolio

In other news, CEO William Shane Trigg sold 3,501 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $217.27, for a total transaction of $760,662.27. Following the sale, the chief executive officer now directly owns 83,824 shares in the company, valued at approximately $18,212,440.48. This represents a 4.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alexander Wolf purchased 9,678 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was bought at an average price of $214.81 per share, with a total value of $2,078,931.18. Following the transaction, the director now owns 3,226 shares of the company’s stock, valued at $692,977.06. This represents a -150.00 % increase in their position. The disclosure for this purchase can be found here. 5.24% of the stock is currently owned by company insiders.

Analyst Ratings Changes

APPF has been the topic of several analyst reports. Keefe, Bruyette & Woods lowered 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. DA Davidson cut their price objective on AppFolio from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Stephens reissued an “overweight” rating and issued a $295.00 target price on shares of AppFolio in a report on Friday, January 31st. KeyCorp downgraded shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price target on the stock. in a report on Friday, January 10th. Finally, Piper Sandler reissued a “neutral” rating and issued a $265.00 price objective on shares of AppFolio in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, AppFolio currently has a consensus rating of “Hold” and an average target price of $274.43.

AppFolio Stock Performance

APPF stock opened at $192.02 on Friday. The company’s fifty day moving average price is $218.06 and its 200-day moving average price is $230.91. AppFolio, Inc. has a one year low of $189.01 and a one year high of $274.56. The company has a market capitalization of $6.99 billion, a PE ratio of 34.60 and a beta of 0.86.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, January 30th. The software maker reported $0.58 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.34). AppFolio had a return on equity of 26.21% and a net margin of 25.69%. On average, research analysts predict that AppFolio, Inc. will post 3.96 EPS for the current fiscal 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.