Mission Wealth Management LP Lowers Stock Holdings in AppFolio, Inc. $APPF

Mission Wealth Management LP lowered its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 21.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,159 shares of the software maker’s stock after selling 11,280 shares during the quarter. Mission Wealth Management LP’s holdings in AppFolio were worth $9,708,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. State of New Jersey Common Pension Fund D grew its holdings in shares of AppFolio by 0.5% during the second quarter. State of New Jersey Common Pension Fund D now owns 9,041 shares of the software maker’s stock worth $2,082,000 after buying an additional 44 shares during the last quarter. Woodline Partners LP grew its holdings in shares of AppFolio by 2.9% during the first quarter. Woodline Partners LP now owns 1,754 shares of the software maker’s stock worth $386,000 after buying an additional 50 shares during the last quarter. Somerset Trust Co grew its holdings in shares of AppFolio by 6.7% during the second quarter. Somerset Trust Co now owns 1,105 shares of the software maker’s stock worth $254,000 after buying an additional 69 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of AppFolio by 23.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 384 shares of the software maker’s stock worth $84,000 after buying an additional 73 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of AppFolio by 3.3% during the first quarter. Deutsche Bank AG now owns 2,362 shares of the software maker’s stock worth $519,000 after buying an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 85.19% of the company’s stock.

AppFolio Trading Up 7.9%

APPF stock opened at $254.43 on Friday. The firm has a 50 day moving average of $260.29 and a 200-day moving average of $244.89. AppFolio, Inc. has a 12-month low of $190.24 and a 12-month high of $326.04. The company has a market cap of $9.12 billion, a price-to-earnings ratio of 45.68 and a beta of 0.83.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, October 30th. The software maker reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.14). AppFolio had a net margin of 22.48% and a return on equity of 26.24%. The company had revenue of $249.35 million for the quarter, compared to analyst estimates of $245.39 million. During the same quarter in the previous year, the business posted $1.29 earnings per share. AppFolio’s revenue was up 21.2% on a year-over-year basis. AppFolio has set its FY 2025 guidance at EPS. Sell-side analysts forecast that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Insider Activity at AppFolio

In other news, CFO Timothy Mathias Eaton sold 667 shares of AppFolio stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $276.58, for a total transaction of $184,478.86. Following the completion of the sale, the chief financial officer directly owned 11,142 shares in the company, valued at approximately $3,081,654.36. This trade represents a 5.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Maurice J. Duca sold 2,500 shares of AppFolio stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $275.57, for a total transaction of $688,925.00. Following the sale, the insider owned 55,795 shares of the company’s stock, valued at approximately $15,375,428.15. The trade was a 4.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 50,203 shares of company stock worth $14,382,536. 4.68% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on APPF. DA Davidson reduced their price objective on shares of AppFolio from $375.00 to $325.00 and set a “buy” rating for the company in a research report on Friday. Piper Sandler upgraded shares of AppFolio from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $240.00 to $350.00 in a research report on Friday, August 1st. Keefe, Bruyette & Woods upgraded shares of AppFolio from a “market perform” rating to an “outperform” rating and set a $311.00 price objective for the company in a research report on Friday, October 24th. KeyCorp reduced their price objective on shares of AppFolio from $285.00 to $270.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of AppFolio in a research report on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, AppFolio presently has a consensus rating of “Buy” and an average price target of $310.20.

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.