Sun Sep 15 10:56:59 UTC 2024: ## Texas School Fund Cuts AppFolio Stake, Other Investors Adjust Holdings

**San Francisco, CA – September 15, 2024** – The Texas Permanent School Fund Corp reduced its stake in cloud-based property management software provider AppFolio, Inc. (NASDAQ: APPF) by 14.5% during the second quarter, according to the fund’s recent SEC filing. The fund now owns 15,302 shares of AppFolio, valued at $3,742,000.

Meanwhile, other institutional investors made significant moves in AppFolio during the recent quarters. Notably, Vanguard Group Inc. increased its holdings by 3.6% in the first quarter, while Gilder Gagnon Howe & Co. LLC and Bank of New York Mellon Corp boosted their stakes by 3.8% and 13.5% respectively in the fourth and second quarters. Newcomers to the AppFolio investment scene include Norges Bank and Zeno Equity Partners LLP, who acquired new positions in the fourth quarter.

In a separate development, major AppFolio shareholder Klaus Schauser sold 1,000 shares on July 22nd at an average price of $270.00. CEO William Shane Trigg also sold 3,501 shares on August 16th at an average price of $218.98.

AppFolio recently reported strong second-quarter earnings, exceeding analysts’ expectations. The company achieved $1.12 in earnings per share and $197.38 million in revenue. AppFolio’s stock opened at $225.84 on Friday, with a market capitalization of $8.19 billion.

Analysts anticipate that AppFolio will post 3.04 earnings per share for the current year.

Institutional investors and hedge funds hold 62.34% of AppFolio’s stock.

Read More