Alamar Capital Management LLC Makes New Investment in AppFolio, Inc. $APPF

Key Points

• Alamar Capital Management LLC has made a significant investment in AppFolio, acquiring 11,375 shares valued at approximately $2.5 million in the first quarter.
• AppFolio reported a 19.4% year-over-year revenue increase, posting earnings of $1.38 per share for the last quarter, surpassing analyst estimates.
• Multiple research analysts have upgraded AppFolio's stock rating to "buy", with price targets reaching as high as $350.00.

Alamar Capital Management LLC bought a new stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 11,375 shares of the software maker's stock, valued at approximately $2,501,000.

Several other institutional investors also recently modified their holdings of the business. Royal Bank of Canada lifted its stake in AppFolio by 22.6% in the first quarter. Royal Bank of Canada now owns 45,452 shares of the software maker's stock valued at $9,993,000 after purchasing an additional 8,367 shares during the last quarter. Graham Capital Management L.P. lifted its stake in AppFolio by 3.6% in the first quarter. Graham Capital Management L.P. now owns 11,869 shares of the software maker's stock valued at $2,610,000 after purchasing an additional 417 shares during the last quarter. Parnassus Investments LLC purchased a new position in AppFolio in the first quarter valued at approximately $1,289,000. Caisse DE Depot ET Placement DU Quebec lifted its stake in AppFolio by 364.4% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 130,737 shares of the software maker's stock valued at $28,749,000 after purchasing an additional 102,586 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its stake in AppFolio by 84.4% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 773,579 shares of the software maker's stock valued at $170,110,000 after purchasing an additional 354,061 shares during the last quarter. 85.19% of the stock is owned by institutional investors.

AppFolio Stock Up 2.0%

NASDAQ:APPF traded up $5.57 during trading hours on Friday, hitting $284.81. 177,568 shares of the company's stock traded hands, compared to its average volume of 282,473. The firm has a market cap of $10.21 billion, a P/E ratio of 51.41 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 business's fifty day simple moving average is $265.56 and its two-hundred day simple moving average is $234.06.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The software maker reported $1.38 earnings per share (EPS) 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 analyst estimates of $230.10 million. AppFolio had a return on equity of 26.32% and a net margin of 23.54%.The firm's quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter last year, the company earned $1.12 earnings per share. AppFolio has set its FY 2025 guidance at EPS. On average, analysts expect that AppFolio, Inc. will post 3.96 EPS for the current year.

Insider Activity at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 3,012 shares of AppFolio stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $264.98, for a total transaction of $798,119.76. Following the completion of the sale, the chief executive officer owned 63,556 shares of the company's stock, valued at $16,841,068.88. The trade was a 4.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Maurice J. Duca sold 2,500 shares of AppFolio stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $275.57, for a total value of $688,925.00. Following the sale, the insider directly owned 55,795 shares of the company's stock, valued at approximately $15,375,428.15. This trade represents a 4.29% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 53,985 shares of company stock valued at $15,348,953. Company insiders own 4.68% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on APPF shares. Keefe, Bruyette & Woods upped their price objective on AppFolio from $295.00 to $311.00 and gave the company a "market perform" rating in a research note on Wednesday. Piper Sandler raised AppFolio from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $240.00 to $350.00 in a report on Friday, August 1st. Finally, DA Davidson reaffirmed a "buy" rating and issued a $350.00 price target on shares of AppFolio in a report on Friday, August 1st. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, AppFolio presently has a consensus rating of "Moderate Buy" and an average price target of $311.80.

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.