Canada Pension Plan Investment Board Purchases 10,400 Shares of AppFolio, Inc. (NASDAQ:APPF)

Canada Pension Plan Investment Board increased its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 24.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 53,000 shares of the software maker’s stock after acquiring an additional 10,400 shares during the period. Canada Pension Plan Investment Board’s holdings in AppFolio were worth $13,076,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC grew its holdings in shares of AppFolio by 881.2% during the fourth quarter. FMR LLC now owns 597,485 shares of the software maker’s stock worth $147,411,000 after purchasing an additional 536,591 shares during the last quarter. Norges Bank acquired a new position in AppFolio in the 4th quarter valued at approximately $68,037,000. Lord Abbett & CO. LLC raised its stake in shares of AppFolio by 82.2% during the third quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker’s stock valued at $108,116,000 after acquiring an additional 207,204 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of AppFolio by 227.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 233,892 shares of the software maker’s stock valued at $57,706,000 after acquiring an additional 162,540 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of AppFolio during the fourth quarter worth $30,195,000. Institutional investors and hedge funds own 85.19% of the company’s stock.

Insider Activity

In other AppFolio news, insider Matthew S. Mazza sold 838 shares of the firm’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $255.30, for a total value of $213,941.40. Following the transaction, the insider now directly owns 22,701 shares of the company’s stock, valued at approximately $5,795,565.30. This trade represents a 3.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alexander Wolf bought 9,678 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were acquired at an average cost of $214.81 per share, with a total value of $2,078,931.18. Following the completion of 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 ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 5.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on APPF. Piper Sandler reissued a “neutral” rating and issued a $265.00 price target on shares of AppFolio in a research note on Friday, January 31st. William Blair restated an “outperform” rating on shares of AppFolio in a report on Friday, January 31st. KeyCorp lowered shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price objective on the stock. in a research note on Friday, January 10th. DA Davidson lowered their target price on shares of AppFolio from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, Stephens reaffirmed an “overweight” rating and set a $295.00 price target on shares of AppFolio in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $272.71.

AppFolio Stock Up 0.4 %

Shares of NASDAQ APPF opened at $218.78 on Monday. AppFolio, Inc. has a 12-month low of $189.01 and a 12-month high of $274.56. The firm has a market cap of $7.96 billion, a PE ratio of 39.42 and a beta of 0.86. The company’s fifty day simple moving average is $217.92 and its 200 day simple moving average is $231.26.

AppFolio (NASDAQ:APPF) last issued its 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 net margin of 25.69% and a return on equity of 26.21%. On average, equities analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current year.

About AppFolio

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.