South Dakota Investment Council Has $864,000 Holdings in AppFolio, Inc. (NASDAQ:APPF)

South Dakota Investment Council increased its holdings in AppFolio, Inc. (NASDAQ:APPF) by 94.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,500 shares of the software maker’s stock after buying an additional 1,700 shares during the period. South Dakota Investment Council’s holdings in AppFolio were worth $864,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Blue Trust Inc. raised its holdings in AppFolio by 85.7% in the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock valued at $29,000 after acquiring an additional 54 shares in the last quarter. UMB Bank n.a. raised its stake in AppFolio by 193.0% in the fourth quarter. UMB Bank n.a. now owns 167 shares of the software maker’s stock valued at $41,000 after purchasing an additional 110 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new position in AppFolio in the fourth quarter valued at about $50,000. True Wealth Design LLC bought a new stake in AppFolio during the third quarter worth about $79,000. Finally, Advisors Asset Management Inc. grew its stake in AppFolio by 56.6% during the third quarter. Advisors Asset Management Inc. now owns 390 shares of the software maker’s stock worth $92,000 after buying an additional 141 shares in the last quarter. 85.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on APPF shares. KeyCorp downgraded shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price target for the company. in a report on Friday, January 10th. Piper Sandler restated a “neutral” rating and set a $265.00 target price on shares of AppFolio in a research note on Friday, January 31st. William Blair reiterated an “outperform” rating on shares of AppFolio in a research note on Friday, January 31st. Finally, Stephens reissued an “overweight” rating and set a $295.00 price target on shares of AppFolio in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $276.29.

AppFolio Stock Performance

Shares of APPF opened at $211.66 on Monday. AppFolio, Inc. has a 52 week low of $189.01 and a 52 week high of $274.56. The stock has a market capitalization of $7.71 billion, a price-to-earnings ratio of 38.14 and a beta of 0.88. The stock has a fifty day moving average of $242.36 and a 200-day moving average of $233.83.

AppFolio (NASDAQ:APPF) last posted 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%. As a group, equities analysts forecast that AppFolio, Inc. will post 3.96 EPS for the current year.

Insider Buying and Selling

In related news, Director Alexander Wolf acquired 9,678 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was acquired at an average cost of $214.81 per share, for a total transaction of $2,078,931.18. Following the completion of the acquisition, the director now directly owns 3,226 shares of the company’s stock, valued at approximately $692,977.06. This trade represents a -150.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William Shane Trigg sold 3,501 shares of AppFolio stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $217.27, for a total value of $760,662.27. Following the transaction, the chief executive officer now directly owns 83,824 shares in the company, valued at $18,212,440.48. The trade was a 4.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,744 shares of company stock worth $2,387,894 in the last ninety days. Company insiders own 5.24% of the company’s stock.

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.