AppFolio, Inc. (NASDAQ:APPF) Shares Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board grew its stake in AppFolio, Inc. (NASDAQ:APPF) by 5.7% during the second quarter, HoldingsChannel.com reports. The firm owned 14,800 shares of the software maker’s stock after purchasing an additional 800 shares during the period. Canada Pension Plan Investment Board’s holdings in AppFolio were worth $3,620,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of APPF. Principal Financial Group Inc. raised its stake in shares of AppFolio by 12.3% in the 4th quarter. Principal Financial Group Inc. now owns 6,165 shares of the software maker’s stock valued at $1,068,000 after purchasing an additional 673 shares in the last quarter. Norges Bank acquired a new stake in shares of AppFolio in the 4th quarter valued at about $38,458,000. Franklin Resources Inc. raised its stake in shares of AppFolio by 13.1% in the 4th quarter. Franklin Resources Inc. now owns 10,441 shares of the software maker’s stock valued at $1,809,000 after purchasing an additional 1,211 shares in the last quarter. Capstone Investment Advisors LLC raised its stake in shares of AppFolio by 5.2% in the 4th quarter. Capstone Investment Advisors LLC now owns 5,158 shares of the software maker’s stock valued at $894,000 after purchasing an additional 257 shares in the last quarter. Finally, Oberndorf William E acquired a new stake in shares of AppFolio in the 4th quarter valued at about $3,020,000. Institutional investors and hedge funds own 62.34% of the company’s stock.

AppFolio Trading Down 1.8 %

NASDAQ APPF opened at $234.14 on Thursday. AppFolio, Inc. has a 52 week low of $164.29 and a 52 week high of $274.56. The stock has a market cap of $8.49 billion, a price-to-earnings ratio of 113.11 and a beta of 0.81. The company has a 50-day moving average price of $229.05 and a two-hundred day moving average price of $233.35.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, July 25th. The software maker reported $1.12 EPS for the quarter, topping the consensus estimate of $0.96 by $0.16. AppFolio had a net margin of 17.32% and a return on equity of 27.39%. The firm had revenue of $197.38 million during the quarter, compared to analysts’ expectations of $190.57 million. During the same quarter in the prior year, the firm earned ($0.53) EPS. AppFolio’s quarterly revenue was up 34.2% on a year-over-year basis. As a group, equities research analysts expect that AppFolio, Inc. will post 3.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other AppFolio news, major shareholder Klaus Schauser sold 1,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $270.00, for a total value of $270,000.00. Following the completion of the transaction, the insider now owns 403,000 shares in the company, valued at approximately $108,810,000. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO William Shane Trigg sold 3,501 shares of the stock in a transaction that occurred on 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 in the company, valued at $17,890,447.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Klaus Schauser sold 1,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $270.00, for a total transaction of $270,000.00. Following the completion of the transaction, the insider now owns 403,000 shares of the company’s stock, valued at $108,810,000. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,032 shares of company stock worth $12,065,684. Insiders own 9.15% of the company’s stock.

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.