DekaBank Deutsche Girozentrale Boosts Stake in AppFolio, Inc. $APPF

DekaBank Deutsche Girozentrale raised its position in AppFolio, Inc. (NASDAQ:APPF) by 58.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,523 shares of the software maker’s stock after purchasing an additional 559 shares during the period. DekaBank Deutsche Girozentrale’s holdings in AppFolio were worth $346,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in APPF. Caitong International Asset Management Co. Ltd purchased a new stake in AppFolio in the 1st quarter valued at about $55,000. GAMMA Investing LLC grew its position in shares of AppFolio by 110.1% during the 1st quarter. GAMMA Investing LLC now owns 353 shares of the software maker’s stock valued at $78,000 after acquiring an additional 185 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of AppFolio by 23.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 384 shares of the software maker’s stock valued at $84,000 after acquiring an additional 73 shares during the period. Oliver Lagore Vanvalin Investment Group bought a new position in shares of AppFolio during the 2nd quarter valued at approximately $90,000. Finally, Reyes Financial Architecture Inc. bought a new position in shares of AppFolio during the 2nd quarter valued at approximately $96,000. Hedge funds and other institutional investors own 85.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on APPF. Weiss Ratings reissued a “buy (b-)” rating on shares of AppFolio in a research report on Friday. KeyCorp raised shares of AppFolio from a “sector weight” rating to an “overweight” rating and set a $285.00 target price for the company in a research report on Friday, October 17th. Piper Sandler raised shares of AppFolio from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $240.00 to $350.00 in a report on Friday, August 1st. Keefe, Bruyette & Woods raised shares of AppFolio from a “market perform” rating to an “outperform” rating and set a $311.00 price objective for the company in a report on Friday. Finally, DA Davidson reaffirmed a “buy” rating and issued a $350.00 price objective on shares of AppFolio in a report on Friday, August 1st. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $318.20.

AppFolio Stock Performance

AppFolio stock opened at $242.68 on Monday. The firm’s fifty day moving average price is $262.96 and its 200-day moving average price is $244.24. The stock has a market cap of $8.70 billion, a P/E ratio of 43.81 and a beta of 0.83. AppFolio, Inc. has a fifty-two week low of $190.24 and a fifty-two week high of $326.04.

AppFolio (NASDAQ:APPF) last issued its 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 for the quarter, compared to analysts’ expectations of $230.10 million. AppFolio had a net margin of 23.54% and a return on equity of 26.32%. The firm’s revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.12 EPS. AppFolio has set its FY 2025 guidance at EPS. On average, analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Insider Buying and Selling

In other AppFolio news, CEO William Shane Trigg sold 4,000 shares of the firm’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $276.95, for a total value of $1,107,800.00. Following the sale, the chief executive officer owned 59,556 shares of the company’s stock, valued at $16,494,034.20. This trade represents a 6.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Klaus Schauser sold 3,000 shares of the firm’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $295.14, for a total transaction of $885,420.00. Following the completion of the sale, the insider directly owned 300,000 shares in the company, valued at approximately $88,542,000. This trade represents 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 in the last 90 days. 4.68% of the stock is owned by company insiders.

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.