Stanley Laman Group Ltd. Makes New Investment in AppFolio, Inc. $APPF

Stanley Laman Group Ltd. acquired a new position in shares of AppFolio, Inc. (NASDAQ:APPF) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 25,615 shares of the software maker’s stock, valued at approximately $5,899,000. AppFolio comprises approximately 0.9% of Stanley Laman Group Ltd.’s investment portfolio, making the stock its 26th biggest holding.

Several other hedge funds have also recently bought and sold shares of APPF. Rhumbline Advisers raised its stake in AppFolio by 0.7% during the first quarter. Rhumbline Advisers now owns 64,229 shares of the software maker’s stock worth $14,124,000 after acquiring an additional 437 shares in the last quarter. GAMMA Investing LLC raised its stake in AppFolio by 110.1% during the first quarter. GAMMA Investing LLC now owns 353 shares of the software maker’s stock worth $78,000 after acquiring an additional 185 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of AppFolio by 53.0% during the first quarter. Fifth Third Bancorp now owns 179 shares of the software maker’s stock worth $39,000 after purchasing an additional 62 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of AppFolio during the first quarter worth $305,000. Finally, State of Alaska Department of Revenue grew its holdings in shares of AppFolio by 3.2% during the first quarter. State of Alaska Department of Revenue now owns 2,720 shares of the software maker’s stock worth $598,000 after purchasing an additional 85 shares during the last quarter. 85.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 4,000 shares of the stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $276.95, for a total value of $1,107,800.00. Following the transaction, the chief executive officer owned 59,556 shares of the company’s stock, valued at approximately $16,494,034.20. This represents a 6.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Klaus Schauser sold 3,000 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $295.14, for a total value of $885,420.00. Following the completion of the transaction, the insider directly owned 300,000 shares in the company, valued at $88,542,000. The trade was a 0.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 58,803 shares of company stock worth $16,938,949 over the last 90 days. Insiders own 4.68% of the company’s stock.

AppFolio Stock Up 5.5%

AppFolio stock opened at $235.51 on Friday. The business’s 50-day simple moving average is $266.00 and its 200 day simple moving average is $243.12. The stock has a market cap of $8.44 billion, a price-to-earnings ratio of 42.51 and a beta of 0.83. AppFolio, Inc. has a 12-month low of $189.01 and a 12-month high of $326.04.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, July 31st. The software maker reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.11. The business had revenue of $235.58 million for 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 quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.12 earnings per share. AppFolio has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that AppFolio, Inc. will post 3.96 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. KeyCorp upgraded AppFolio from a “sector weight” rating to an “overweight” rating and set a $285.00 target price on the stock in a report on Friday. Weiss Ratings restated a “buy (b-)” rating on shares of AppFolio in a report on Wednesday, October 8th. Keefe, Bruyette & Woods increased their target price on AppFolio from $295.00 to $311.00 and gave the stock a “market perform” rating in a report on Wednesday, September 3rd. DA Davidson restated a “buy” rating and set a $350.00 target price on shares of AppFolio in a report on Friday, August 1st. Finally, Piper Sandler upgraded AppFolio from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $240.00 to $350.00 in a report on Friday, August 1st. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, AppFolio presently has an average rating of “Moderate Buy” and a consensus price target of $318.20.

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.