Nisa Investment Advisors LLC Buys 3,621 Shares of AppFolio, Inc. $APPF

Nisa Investment Advisors LLC boosted its stake in AppFolio, Inc. (NASDAQ:APPF) by 63.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,370 shares of the software maker’s stock after purchasing an additional 3,621 shares during the period. Nisa Investment Advisors LLC’s holdings in AppFolio were worth $2,158,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. New York State Teachers Retirement System increased its holdings in AppFolio by 80.8% in the first quarter. New York State Teachers Retirement System now owns 8,773 shares of the software maker’s stock valued at $1,929,000 after purchasing an additional 3,922 shares during the period. Janney Montgomery Scott LLC acquired a new stake in AppFolio in the first quarter valued at $305,000. Northern Trust Corp increased its holdings in AppFolio by 0.8% in the first quarter. Northern Trust Corp now owns 193,780 shares of the software maker’s stock valued at $42,612,000 after purchasing an additional 1,493 shares during the period. HighTower Advisors LLC increased its holdings in AppFolio by 94.1% in the first quarter. HighTower Advisors LLC now owns 2,882 shares of the software maker’s stock valued at $634,000 after purchasing an additional 1,397 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in AppFolio by 121.2% in the first quarter. Principal Financial Group Inc. now owns 401,888 shares of the software maker’s stock valued at $88,375,000 after purchasing an additional 220,239 shares during the period. Institutional investors own 85.19% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on APPF shares. Piper Sandler upgraded AppFolio from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $240.00 to $350.00 in a report on Friday, August 1st. Keefe, Bruyette & Woods upgraded AppFolio from a “market perform” rating to an “outperform” rating and set a $311.00 price objective for the company in a report on Friday, October 24th. Weiss Ratings reiterated a “buy (b-)” rating on shares of AppFolio in a research report on Wednesday, October 8th. KeyCorp upgraded shares of AppFolio from a “sector weight” rating to an “overweight” rating and set a $285.00 price objective for the company in a research report on Friday, October 17th. Finally, DA Davidson reiterated a “buy” rating and set a $350.00 price objective on shares of AppFolio in a research report on Friday, August 1st. Seven research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $318.20.

Insider Transactions at AppFolio

In other news, CEO William Shane Trigg sold 4,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer owned 59,556 shares of the company’s stock, valued at $16,494,034.20. This represents a 6.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Maurice J. Duca sold 3,100 shares of the stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $321.38, for a total transaction of $996,278.00. Following the transaction, the insider directly owned 42,400 shares in the company, valued at $13,626,512. This trade represents a 6.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 50,203 shares of company stock worth $14,382,536 in the last three months. Insiders own 4.68% of the company’s stock.

AppFolio Price Performance

APPF stock opened at $235.71 on Friday. The stock has a market capitalization of $8.45 billion, a PE ratio of 42.55 and a beta of 0.83. The company’s 50-day moving average is $260.71 and its 200-day moving average is $244.54. AppFolio, Inc. has a 1 year low of $190.24 and a 1 year high of $326.04.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Thursday, October 30th. The software maker reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.14). The company had revenue of $249.35 million for the quarter, compared to the consensus estimate of $245.39 million. AppFolio had a return on equity of 26.32% and a net margin of 23.54%.AppFolio’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period last year, the company earned $1.29 EPS. AppFolio has set its FY 2025 guidance at EPS. On average, analysts anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

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.