Algert Global LLC Sells 22,502 Shares of AppFolio, Inc. $APPF

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 its most recent disclosure with the Securities & Exchange Commission. The firm 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 filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. AQR Capital Management LLC raised its stake in shares of AppFolio by 43.2% in the fourth quarter. AQR Capital Management LLC now owns 655,625 shares of the software maker's stock worth $161,756,000 after buying an additional 197,700 shares during the period. Gilder Gagnon Howe & Co. LLC raised its stake in shares of AppFolio by 4.7% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 572,917 shares of the software maker's stock worth $141,350,000 after buying an additional 25,566 shares during the period. Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of AppFolio in the fourth quarter worth about $103,503,000. Principal Financial Group Inc. raised 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 buying an additional 220,239 shares during the period. Finally, Nellore Capital Management LLC raised its stake in shares of AppFolio by 18.6% in the fourth quarter. Nellore Capital Management LLC now owns 371,934 shares of the software maker's stock worth $91,764,000 after buying an additional 58,315 shares during the period. Institutional investors own 85.19% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on APPF shares. Keefe, Bruyette & Woods raised AppFolio from an "underperform" rating to a "market perform" rating and lifted their target price for the company from $205.00 to $267.00 in a research note on Thursday, July 31st. Piper Sandler raised AppFolio from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $240.00 to $350.00 in a research note on Friday, August 1st. Finally, DA Davidson reissued a "buy" rating and set a $350.00 target price on shares of AppFolio in a research note on Friday, August 1st. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, AppFolio has a consensus rating of "Moderate Buy" and a consensus target price of $303.00.

AppFolio Price Performance

Shares of AppFolio stock traded up $5.35 on Friday, reaching $275.32. The company had a trading volume of 328,243 shares, compared to its average volume of 428,240. The firm has a market cap of $9.87 billion, a price-to-earnings ratio of 49.70 and a beta of 0.95. The firm's 50-day moving average price is $255.51 and its two-hundred day moving average price is $230.11. 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 announced its earnings results on Thursday, July 31st. The software maker reported $1.38 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $0.11. The firm 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%.The company's quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.12 EPS. AppFolio has set its FY 2025 guidance at EPS. As a group, analysts anticipate that AppFolio, Inc. will post 3.96 EPS for the current year.

Insider Transactions at AppFolio

In other news, CEO William Shane Trigg sold 3,012 shares of AppFolio stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $264.98, for a total value of $798,119.76. Following the completion of the transaction, the chief executive officer owned 63,556 shares in the company, valued at approximately $16,841,068.88. The trade was a 4.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Maurice J. Duca sold 3,100 shares of AppFolio stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $321.38, for a total value of $996,278.00. Following the completion of the transaction, the insider owned 42,400 shares of the company's stock, valued at approximately $13,626,512. This trade represents a 6.81% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have bought 18,500 shares of company stock worth $4,024,220 and have sold 41,018 shares worth $11,774,602. Company insiders own 4.68% of the company's stock.

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.