Blair William & Co. IL Lowers Stock Position in AppFolio, Inc. $APPF

Blair William & Co. IL lessened its holdings in AppFolio, Inc. (NASDAQ:APPF) by 0.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 56,337 shares of the software maker’s stock after selling 156 shares during the period. Blair William & Co. IL owned about 0.16% of AppFolio worth $12,973,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of APPF. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of AppFolio by 84.4% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 773,579 shares of the software maker’s stock worth $170,110,000 after purchasing an additional 354,061 shares during the period. Principal Financial Group Inc. lifted its position in shares of AppFolio by 121.2% in the 1st quarter. Principal Financial Group Inc. now owns 401,888 shares of the software maker’s stock worth $88,375,000 after purchasing an additional 220,239 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in shares of AppFolio by 4,272.4% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 172,972 shares of the software maker’s stock worth $38,037,000 after acquiring an additional 169,016 shares in the last quarter. Fiera Capital Corp bought a new position in shares of AppFolio during the 1st quarter worth approximately $35,896,000. Finally, Brown Advisory Inc. bought a new position in shares of AppFolio during the 1st quarter worth approximately $27,800,000. Hedge funds and other institutional investors own 85.19% of the company’s stock.

AppFolio Trading Down 2.5%

Shares of AppFolio stock opened at $224.87 on Friday. AppFolio, Inc. has a 12-month low of $189.01 and a 12-month high of $326.04. The firm has a market capitalization of $8.06 billion, a price-to-earnings ratio of 40.59 and a beta of 0.83. The firm’s 50 day simple moving average is $273.81 and its two-hundred day simple moving average is $242.94.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Thursday, July 31st. The software maker reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.11. AppFolio had a net margin of 23.54% and a return on equity of 26.32%. The business had revenue of $235.58 million for the quarter, compared to analyst estimates of $230.10 million. During the same quarter in the prior year, the business posted $1.12 EPS. AppFolio’s revenue for the quarter was up 19.4% compared to the same quarter last year. AppFolio has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on APPF. DA Davidson reiterated a “buy” rating and set a $350.00 price objective on shares of AppFolio in a research note on Friday, August 1st. Piper Sandler upgraded shares of AppFolio from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $240.00 to $350.00 in a research note on Friday, August 1st. Weiss Ratings reiterated a “buy (b-)” rating on shares of AppFolio in a research note on Wednesday. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of AppFolio from $295.00 to $311.00 and gave the stock a “market perform” rating in a research note on Wednesday, September 3rd. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, AppFolio currently has an average rating of “Moderate Buy” and an average target price of $311.80.

Insider Activity

In other AppFolio news, major shareholder Maurice J. Duca sold 2,500 shares of the stock in a transaction 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 transaction, the insider directly owned 55,795 shares of the company’s stock, valued at $15,375,428.15. This trade represents a 4.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Janet Kerr sold 2,500 shares of the stock in a transaction on Monday, September 8th. The shares were sold at an average price of $285.04, for a total transaction of $712,600.00. Following the transaction, the director directly owned 11,995 shares in the company, valued at approximately $3,419,054.80. The trade was a 17.25% decrease in their ownership of the stock. 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 three months. Corporate insiders own 4.68% of the company’s stock.

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.