IFP Advisors Inc Sells 172 Shares of AppFolio, Inc. $APPF

IFP Advisors Inc cut its stake in AppFolio, Inc. (NASDAQ:APPF) by 26.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 470 shares of the software maker’s stock after selling 172 shares during the quarter. IFP Advisors Inc’s holdings in AppFolio were worth $108,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. New York State Teachers Retirement System increased its holdings in shares of AppFolio by 80.8% in the 1st quarter. New York State Teachers Retirement System now owns 8,773 shares of the software maker’s stock valued at $1,929,000 after acquiring an additional 3,922 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new position in shares of AppFolio in the 1st quarter valued at $420,000. Janney Montgomery Scott LLC purchased a new position in shares of AppFolio in the 1st quarter valued at $305,000. Oppenheimer Asset Management Inc. increased its holdings in shares of AppFolio by 34.8% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 5,049 shares of the software maker’s stock valued at $1,110,000 after acquiring an additional 1,304 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of AppFolio by 0.8% in the 1st quarter. Northern Trust Corp now owns 193,780 shares of the software maker’s stock valued at $42,612,000 after acquiring an additional 1,493 shares during the period. 85.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

APPF has been the topic of several research analyst reports. Piper Sandler upgraded AppFolio from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $240.00 to $350.00 in a research note on Friday, August 1st. Keefe, Bruyette & Woods boosted their target price on AppFolio from $295.00 to $311.00 and gave the stock a “market perform” rating in a research note on Wednesday, September 3rd. KeyCorp upgraded AppFolio from a “sector weight” rating to an “overweight” rating and set a $285.00 target price on the stock in a research note on Friday. DA Davidson restated a “buy” rating and set a $350.00 target price on shares of AppFolio in a research note on Friday, August 1st. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of AppFolio in a research note on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $318.20.

Insider Activity

In other news, major shareholder Klaus Schauser sold 3,000 shares of the business’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $295.14, for a total value of $885,420.00. Following the completion of the transaction, the insider owned 300,000 shares of the company’s stock, valued at $88,542,000. The trade was a 0.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Maurice J. Duca sold 3,100 shares of the business’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $321.38, for a total value of $996,278.00. Following the completion of the transaction, the insider directly owned 42,400 shares of the company’s stock, valued at approximately $13,626,512. This trade represents a 6.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,803 shares of company stock valued at $16,938,949 in the last quarter. 4.68% of the stock is currently owned by company insiders.

AppFolio Stock Performance

Shares of APPF opened at $235.51 on Monday. The stock has a 50-day moving average of $266.00 and a two-hundred day moving average of $243.36. AppFolio, Inc. has a one year low of $189.01 and a one year high of $326.04. The stock has a market cap of $8.44 billion, a P/E ratio of 42.51 and a beta of 0.83.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Thursday, July 31st. The software maker reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.11. The company had revenue of $235.58 million during the quarter, compared to analysts’ expectations of $230.10 million. AppFolio had a return on equity of 26.32% and a net margin of 23.54%.The firm’s revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.12 EPS. AppFolio has set its FY 2025 guidance at EPS. Analysts predict that AppFolio, Inc. will post 3.96 EPS 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.