Advisors Capital Management LLC Boosts Stock Holdings in AppFolio, Inc. $APPF

Key Points

• Advisors Capital Management LLC increased its holdings in AppFolio, Inc. by 42.6% during Q1, owning 17,221 shares valued at approximately $3.79 million.
• Insiders, including CEO William Shane Trigg and major shareholder Klaus Schauser, have sold a combined total of 51,803 shares worth nearly $15 million in the past ninety days.
• Analysts have a consensus rating of "Moderate Buy" for AppFolio, with an average price target of $311.80, reflecting optimism in the company's future performance.

Advisors Capital Management LLC increased its position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 42.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,221 shares of the software maker's stock after purchasing an additional 5,147 shares during the period. Advisors Capital Management LLC's holdings in AppFolio were worth $3,787,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC purchased a new position in shares of AppFolio during the 4th quarter worth about $103,503,000. Principal Financial Group Inc. increased its stake in shares of AppFolio by 121.2% in the first quarter. Principal Financial Group Inc. now owns 401,888 shares of the software maker's stock worth $88,375,000 after acquiring an additional 220,239 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in shares of AppFolio by 4,272.4% in the first 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 during the period. Fiera Capital Corp purchased a new stake in AppFolio during the first quarter worth $35,896,000. Finally, Brown Advisory Inc. purchased a new position in AppFolio during the first quarter valued at $27,800,000. 85.19% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 3,012 shares of the company'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 transaction, the chief executive officer directly owned 63,556 shares in the company, valued at approximately $16,841,068.88. This represents a 4.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Klaus Schauser sold 3,000 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $295.14, for a total transaction of $885,420.00. Following the transaction, the insider owned 300,000 shares in the company, valued at approximately $88,542,000. The trade was a 0.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,803 shares of company stock worth $14,995,040. Corporate insiders own 4.68% of the company's stock.

AppFolio Stock Performance

Shares of APPF opened at $281.48 on Friday. The stock has a market capitalization of $10.09 billion, a P/E ratio of 50.81 and a beta of 0.89. The company's fifty day moving average is $269.48 and its two-hundred day moving average is $235.90. AppFolio, Inc. has a 1 year low of $189.01 and a 1 year high of $326.04.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The software maker reported $1.38 earnings per share for the quarter, topping 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 analysts' expectations of $230.10 million. During the same period in the prior year, the company posted $1.12 EPS. The business's revenue for the quarter was up 19.4% on a year-over-year basis. AppFolio has set its FY 2025 guidance at EPS. Sell-side analysts predict that AppFolio, Inc. will post 3.96 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on APPF. Keefe, Bruyette & Woods lifted their target price 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. DA Davidson reiterated a "buy" rating and set a $350.00 price target on shares of AppFolio in a research report on Friday, August 1st. Finally, Piper Sandler upgraded shares of AppFolio from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $240.00 to $350.00 in a report on Friday, August 1st. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target 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.

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