EP Wealth Advisors LLC Takes $320,000 Position in AppFolio, Inc. $APPF

EP Wealth Advisors LLC bought a new stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,454 shares of the software maker's stock, valued at approximately $320,000.

A number of other hedge funds have also recently made changes to their positions in the stock. New York State Teachers Retirement System raised its position in AppFolio by 80.8% in the first quarter. New York State Teachers Retirement System now owns 8,773 shares of the software maker's stock valued at $1,929,000 after purchasing an additional 3,922 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of AppFolio in the first quarter valued at $420,000. Janney Montgomery Scott LLC purchased a new stake in shares of AppFolio in the 1st quarter valued at $305,000. Oppenheimer Asset Management Inc. lifted its stake in AppFolio by 34.8% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 5,049 shares of the software maker's stock worth $1,110,000 after acquiring an additional 1,304 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in AppFolio by 0.8% during 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. Hedge funds and other institutional investors own 85.19% of the company's stock.

Insider Buying and Selling at AppFolio

In other news, CFO Timothy Mathias Eaton sold 667 shares of the stock in a transaction dated 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 owned 11,142 shares in the company, valued at approximately $3,081,654.36. This represents a 5.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William Shane Trigg sold 3,012 shares of the business's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $264.98, for a total value of $798,119.76. Following the completion of the transaction, the chief executive officer owned 63,556 shares in the company, valued at $16,841,068.88. This trade represents a 4.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 51,803 shares of company stock valued at $14,995,040 over the last ninety days. 4.68% of the stock is currently owned by corporate insiders.

AppFolio Stock Performance

NASDAQ APPF traded down $5.39 on Friday, reaching $276.09. The stock had a trading volume of 259,741 shares, compared to its average volume of 237,240. The stock has a market cap of $9.90 billion, a P/E ratio of 49.84 and a beta of 0.89. AppFolio, Inc. has a 12-month low of $189.01 and a 12-month high of $326.04. The business's 50-day moving average price is $270.29 and its 200 day moving average price is $236.51.

AppFolio (NASDAQ:APPF - Get Free Report) last announced its earnings results on Thursday, July 31st. The software maker reported $1.38 EPS for the quarter, beating analysts' consensus estimates 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 net margin of 23.54% and a return on equity of 26.32%. The company's quarterly revenue was up 19.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.12 EPS. AppFolio has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on APPF shares. Piper Sandler upgraded shares of AppFolio from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $240.00 to $350.00 in a research note on Friday, August 1st. DA Davidson restated a "buy" rating and issued a $350.00 price objective on shares of AppFolio in a report on Friday, August 1st. Finally, Keefe, Bruyette & Woods increased their target price on shares of AppFolio from $295.00 to $311.00 and gave the stock a "market perform" rating in a report on Wednesday, September 3rd. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $311.80.

AppFolio Company 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.