AppFolio, Inc. $APPF Stake Trimmed by Algert Global LLC

Key Points

• Algert Global LLC reduced its stake in AppFolio, Inc. by 41.5%, selling 22,502 shares and retaining ownership of 31,707 shares valued at $6.97 million.
• AppFolio reported $1.38 EPS for the last quarter, surpassing analysts' expectations of $1.27, with a year-over-year revenue increase of 19.4%.
• Multiple research firms have recently raised their ratings and price targets for AppFolio, with DA Davidson setting a target price of $350.00 and Piper Sandler upgrading it to "overweight."

Algert Global LLC lowered its stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 41.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,707 shares of the software maker's stock after selling 22,502 shares during the quarter. Algert Global LLC owned about 0.09% of AppFolio worth $6,972,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. New York State Teachers Retirement System boosted its holdings in shares of 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. bought a new position in shares of AppFolio during the 1st quarter worth approximately $420,000. Janney Montgomery Scott LLC purchased a new stake in shares of AppFolio during the 1st quarter valued at $305,000. Oppenheimer Asset Management Inc. raised its stake in AppFolio by 34.8% in the first quarter. Oppenheimer Asset Management Inc. now owns 5,049 shares of the software maker's stock valued at $1,110,000 after buying an additional 1,304 shares during the last quarter. Finally, Portside Wealth Group LLC purchased a new position in shares of AppFolio in the 1st quarter valued at approximately $774,000. Institutional investors own 85.19% of the company's stock.

AppFolio Trading Up 0.9%

NASDAQ:APPF traded up $2.51 during midday trading on Thursday, hitting $269.97. 188,624 shares of the company were exchanged, compared to its average volume of 317,409. The company has a fifty day simple moving average of $253.66 and a 200 day simple moving average of $229.60. AppFolio, Inc. has a fifty-two week low of $189.01 and a fifty-two week high of $326.04. The company has a market capitalization of $9.68 billion, a PE ratio of 48.73 and a beta of 0.95.

AppFolio (NASDAQ:APPF - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The software maker reported $1.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.27 by $0.11. AppFolio had a return on equity of 26.32% and a net margin of 23.54%.The firm had revenue of $235.58 million for the quarter, compared to analyst estimates of $230.10 million. During the same quarter last year, the company posted $1.12 earnings per share. The business's revenue was up 19.4% on a year-over-year basis. AppFolio has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that AppFolio, Inc. will post 3.96 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on APPF shares. Piper Sandler upgraded AppFolio from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $240.00 to $350.00 in a research note on Friday, August 1st. Keefe, Bruyette & Woods upgraded AppFolio from an "underperform" rating to a "market perform" rating and boosted their price target for the stock from $205.00 to $267.00 in a research report on Thursday, July 31st. Finally, DA Davidson reiterated a "buy" rating and issued a $350.00 price objective 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $303.00.

Insider Buying and Selling at AppFolio

In related news, insider Elizabeth Erin Barat sold 4,682 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $227.79, for a total transaction of $1,066,512.78. Following the transaction, the insider directly owned 17,926 shares in the company, valued at approximately $4,083,363.54. This represents a 20.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Maurice J. Duca sold 3,100 shares of AppFolio stock in a transaction on Monday, August 4th. The shares were sold at an average price of $321.38, for a total transaction of $996,278.00. Following the transaction, the insider owned 42,400 shares in the company, valued at $13,626,512. The trade was a 6.81% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 18,500 shares of company stock valued at $4,024,220 and have sold 41,018 shares valued at $11,774,602. 4.68% of the stock is currently owned by corporate insiders.

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.