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

Other large investors have also recently modified their holdings of the company. Woodline Partners LP increased its stake in shares of AppFolio by 2.9% in the first quarter. Woodline Partners LP now owns 1,754 shares of the software maker's stock worth $386,000 after acquiring an additional 50 shares during the period. Fifth Third Bancorp lifted its holdings in shares of AppFolio by 53.0% in the 1st quarter. Fifth Third Bancorp now owns 179 shares of the software maker's stock worth $39,000 after acquiring an additional 62 shares during the last quarter. Tidal Investments LLC lifted its stake in AppFolio by 4.7% during the 4th quarter. Tidal Investments LLC now owns 1,492 shares of the software maker's stock worth $368,000 after acquiring an additional 67 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in AppFolio by 23.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 384 shares of the software maker's stock worth $84,000 after buying an additional 73 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of AppFolio by 3.3% in the 1st quarter. Deutsche Bank AG now owns 2,362 shares of the software maker's stock valued at $519,000 after purchasing an additional 75 shares in the last quarter. Institutional investors own 85.19% of the company's stock.

AppFolio Trading Down 0.2%

Shares of APPF traded down $0.53 on Wednesday, reaching $275.73. 45,645 shares of the company's stock traded hands, compared to its average volume of 308,680. The stock has a market cap of $9.88 billion, a PE ratio of 49.75 and a beta of 0.89. AppFolio, Inc. has a 52-week low of $189.01 and a 52-week high of $326.04. The stock's 50 day simple moving average is $271.74 and its two-hundred day simple moving average is $237.41.

AppFolio (NASDAQ:APPF - Get Free Report) last issued its earnings results on Thursday, July 31st. The software maker reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.11. The company had revenue of $235.58 million during 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%.AppFolio's quarterly revenue was up 19.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.12 EPS. AppFolio has set its FY 2025 guidance at EPS. Analysts forecast that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on APPF. 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. Keefe, Bruyette & Woods lifted their price objective on shares of AppFolio from $295.00 to $311.00 and gave the stock a "market perform" rating in a research report on Wednesday, September 3rd. Finally, DA Davidson reissued a "buy" rating and issued a $350.00 target price on shares of AppFolio in a report on Friday, August 1st. 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 stock presently has a consensus rating of "Moderate Buy" and an average target price of $311.80.

Insider Activity at AppFolio

In other news, insider Matthew S. Mazza sold 1,636 shares of the business's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $276.98, for a total value of $453,139.28. Following the completion of the transaction, the insider directly owned 25,015 shares of the company's stock, valued at approximately $6,928,654.70. The trade was a 6.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Timothy Mathias Eaton sold 667 shares of the firm's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $276.58, for a total value of $184,478.86. Following the sale, the chief financial officer directly owned 11,142 shares in the company, valued at approximately $3,081,654.36. This trade represents a 5.65% decrease in their ownership of the stock. 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 ninety days. 4.68% of the stock is currently owned by company insiders.

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.