Healthcare of Ontario Pension Plan Trust Fund Acquires 6,000 Shares of AppFolio, Inc. (NASDAQ:APPF)

Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in AppFolio, Inc. (NASDAQ:APPF) by 42.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,000 shares of the software maker’s stock after purchasing an additional 6,000 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.06% of AppFolio worth $4,935,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of APPF. Vanguard Group Inc. lifted its position in shares of AppFolio by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 2,001,727 shares of the software maker’s stock valued at $365,575,000 after acquiring an additional 46,827 shares during the period. Assenagon Asset Management S.A. lifted its position in AppFolio by 103.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 34,881 shares of the software maker’s stock worth $6,043,000 after purchasing an additional 17,706 shares during the period. AMI Asset Management Corp bought a new position in AppFolio in the 4th quarter valued at about $966,000. Meeder Asset Management Inc. acquired a new position in shares of AppFolio in the 4th quarter valued at approximately $85,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of AppFolio by 497.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 43,552 shares of the software maker’s stock valued at $7,545,000 after buying an additional 36,265 shares in the last quarter. Institutional investors own 62.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on APPF shares. Piper Sandler Companies reiterated an “overweight” rating and set a $300.00 price target on shares of AppFolio in a research report on Friday. Keefe, Bruyette & Woods lifted their price target on AppFolio from $215.00 to $238.00 and gave the company a “market perform” rating in a research note on Friday, April 26th. KeyCorp boosted their price target on AppFolio from $264.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. JPMorgan Chase & Co. raised their price objective on AppFolio from $260.00 to $328.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Finally, Piper Sandler reissued an “overweight” rating and set a $295.00 target price on shares of AppFolio in a research note on Friday, July 12th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, AppFolio currently has a consensus rating of “Moderate Buy” and an average price target of $266.50.

Insider Transactions at AppFolio

In related news, Director Alexander Wolf sold 10,000 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $250.26, for a total value of $2,502,600.00. Following the completion of the sale, the director now directly owns 182,584 shares in the company, valued at $45,693,471.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other AppFolio news, Director Alexander Wolf sold 10,000 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $250.26, for a total value of $2,502,600.00. Following the sale, the director now owns 182,584 shares in the company, valued at approximately $45,693,471.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Maurice J. Duca sold 4,462 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $261.19, for a total value of $1,165,429.78. Following the completion of the sale, the insider now directly owns 49,784 shares of the company’s stock, valued at approximately $13,003,082.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 130,444 shares of company stock worth $31,124,559. Company insiders own 9.15% of the company’s stock.

AppFolio Price Performance

AppFolio stock opened at $259.07 on Friday. The business has a 50 day moving average of $242.72 and a 200-day moving average of $230.34. The company has a market capitalization of $9.38 billion, a P/E ratio of 125.16 and a beta of 0.80. AppFolio, Inc. has a 1 year low of $164.29 and a 1 year high of $274.56.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, April 25th. The software maker reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.09. The firm had revenue of $187.43 million for the quarter, compared to analyst estimates of $173.66 million. AppFolio had a net margin of 11.38% and a return on equity of 13.51%. Equities analysts anticipate that AppFolio, Inc. will post 2.85 EPS for the current year.

AppFolio 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.