Principal Financial Group Inc. Purchases 3,818 Shares of AppFolio, Inc. (NASDAQ:APPF)

Principal Financial Group Inc. raised its position in AppFolio, Inc. (NASDAQ:APPF) by 2.1% during the 4th quarter, HoldingsChannel reports. The fund owned 181,649 shares of the software maker’s stock after buying an additional 3,818 shares during the quarter. Principal Financial Group Inc.’s holdings in AppFolio were worth $44,816,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. State of New Jersey Common Pension Fund D lifted its stake in AppFolio by 8.4% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 9,185 shares of the software maker’s stock valued at $2,266,000 after acquiring an additional 710 shares in the last quarter. Capital Performance Advisors LLP lifted its stake in AppFolio by 56.6% in the 4th quarter. Capital Performance Advisors LLP now owns 1,037 shares of the software maker’s stock valued at $256,000 after acquiring an additional 375 shares in the last quarter. Entropy Technologies LP lifted its stake in AppFolio by 257.7% in the 4th quarter. Entropy Technologies LP now owns 5,830 shares of the software maker’s stock valued at $1,438,000 after acquiring an additional 4,200 shares in the last quarter. Retirement Systems of Alabama lifted its stake in AppFolio by 0.4% in the 4th quarter. Retirement Systems of Alabama now owns 28,064 shares of the software maker’s stock valued at $6,924,000 after acquiring an additional 114 shares in the last quarter. Finally, Deepwater Asset Management LLC bought a new stake in AppFolio in the 4th quarter valued at approximately $15,483,000. Institutional investors own 85.19% of the company’s stock.

Insider Transactions at AppFolio

In related news, Director Scanlan Agnes Bundy sold 500 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $255.42, for a total transaction of $127,710.00. Following the completion of the sale, the director now owns 5,416 shares of the company’s stock, valued at $1,383,354.72. This trade represents a 8.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William Shane Trigg sold 4,145 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $263.32, for a total value of $1,091,461.40. Following the sale, the chief executive officer now directly owns 73,682 shares of the company’s stock, valued at $19,401,944.24. This represents a 5.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,321 shares of company stock worth $3,034,077 over the last ninety days. 5.24% of the stock is owned by insiders.

Wall Street Analyst Weigh In

APPF has been the topic of several research reports. KeyCorp cut AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 target price on the stock. in a research note on Friday, January 10th. Piper Sandler reiterated a “neutral” rating and set a $265.00 price objective 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 reiterated an “overweight” rating and set a $295.00 price objective on shares of AppFolio in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $276.29.

AppFolio Trading Up 0.6 %

AppFolio stock opened at $216.23 on Friday. AppFolio, Inc. has a 12 month low of $189.01 and a 12 month high of $274.56. The company has a market capitalization of $7.87 billion, a PE ratio of 38.96 and a beta of 0.88. The stock has a 50-day moving average price of $243.31 and a two-hundred day moving average price of $233.45.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Thursday, January 30th. The software maker reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.34). AppFolio had a return on equity of 26.21% and a net margin of 25.69%. As a group, analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal 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.