Alamar Capital Management LLC Has $4.21 Million Holdings in AppFolio, Inc. $APPF

Key Points

• Alamar Capital Management LLC increased its holdings in AppFolio, Inc. by 60.9% in the second quarter, now owning 18,300 shares valued at approximately $4.21 million.
• Several institutional investors, including First Citizens Bank & Trust Co. and William Blair Investment Management LLC, raised their stakes significantly, with 85.19% of AppFolio's stock now owned by such investors.
• Analysts are generally positive on AppFolio, with multiple upgrades and a consensus rating of "Moderate Buy", and an average price target of $318.20.

Alamar Capital Management LLC lifted its holdings in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 60.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,300 shares of the software maker's stock after purchasing an additional 6,925 shares during the period. AppFolio accounts for about 2.3% of Alamar Capital Management LLC's investment portfolio, making the stock its 11th biggest holding. Alamar Capital Management LLC owned approximately 0.05% of AppFolio worth $4,214,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. First Citizens Bank & Trust Co. lifted its stake in shares of AppFolio by 263.0% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 4,556 shares of the software maker's stock valued at $1,049,000 after purchasing an additional 3,301 shares during the last quarter. Wallace Advisory Group LLC acquired a new stake in shares of AppFolio in the 2nd quarter valued at $249,000. DekaBank Deutsche Girozentrale lifted its stake in shares of AppFolio by 58.0% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,523 shares of the software maker's stock valued at $346,000 after purchasing an additional 559 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of AppFolio in the 2nd quarter valued at $2,216,000. Finally, William Blair Investment Management LLC lifted its stake in shares of AppFolio by 73.6% in the 2nd quarter. William Blair Investment Management LLC now owns 733,428 shares of the software maker's stock valued at $168,894,000 after purchasing an additional 310,834 shares during the last quarter. Institutional investors and hedge funds own 85.19% of the company's stock.

Wall Street Analysts Forecast Growth

APPF has been the subject of several analyst reports. KeyCorp raised shares of AppFolio from a "sector weight" rating to an "overweight" rating and set a $285.00 price objective for the company in a research note on Friday, October 17th. Piper Sandler upgraded shares of AppFolio from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $240.00 to $350.00 in a report on Friday, August 1st. 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 report on Wednesday, September 3rd. Weiss Ratings reiterated a "buy (b-)" rating on shares of AppFolio in a report on Wednesday, October 8th. Finally, DA Davidson reiterated a "buy" rating and issued a $350.00 target price on shares of AppFolio in a report on Friday, August 1st. Six 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, AppFolio has a consensus rating of "Moderate Buy" and an average price target of $318.20.

Insiders Place Their Bets

In related news, major shareholder Maurice J. Duca sold 2,500 shares of the company's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $275.57, for a total value of $688,925.00. Following the sale, the insider owned 55,795 shares of the company's stock, valued at $15,375,428.15. The trade was a 4.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Timothy Mathias Eaton sold 667 shares of the company's 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 directly owned 11,142 shares in the company, valued at approximately $3,081,654.36. The trade was a 5.65% 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 valued at $16,938,949 over the last 90 days. Company insiders own 4.68% of the company's stock.

AppFolio Stock Performance

Shares of APPF opened at $239.55 on Friday. The company has a 50-day simple moving average of $263.41 and a 200-day simple moving average of $243.64. The firm has a market capitalization of $8.59 billion, a P/E ratio of 43.24 and a beta of 0.83. AppFolio, Inc. has a 52 week low of $189.01 and a 52 week high of $326.04.

AppFolio (NASDAQ:APPF - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $230.10 million. AppFolio had a net margin of 23.54% and a return on equity of 26.32%. The firm's revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.12 earnings per share. AppFolio has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that AppFolio, Inc. will post 3.96 earnings per share for the current year.

AppFolio 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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