Amundi Has $3.08 Million Position in AppFolio, Inc. $APPF

Key Points

• Amundi reduced its holdings in AppFolio, Inc. by 20.1% in the first quarter, selling 3,447 shares and bringing its total ownership to 13,734 shares valued at approximately $3.08 million.
• AppFolio, Inc. reported earnings of $1.38 per share, exceeding analyst expectations, with a year-over-year revenue increase of 19.4%.
• Recent analyst reports have upgraded AppFolio, with Piper Sandler raising its target price to $350.00, and the stock currently holds a consensus rating of "Moderate Buy."

Amundi lessened its holdings in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 20.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,734 shares of the software maker's stock after selling 3,447 shares during the period. Amundi's holdings in AppFolio were worth $3,082,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in APPF. Kayne Anderson Rudnick Investment Management LLC bought a new position in AppFolio in the 4th quarter worth about $103,503,000. Principal Financial Group Inc. grew its holdings in AppFolio by 121.2% in the 1st 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 in the last quarter. Fiera Capital Corp bought a new position in shares of AppFolio in the first quarter worth $35,896,000. Brown Advisory Inc. bought a new position in shares of AppFolio in the first quarter worth $27,800,000. Finally, Nuveen LLC bought a new position in AppFolio in the 1st quarter valued at about $27,464,000. 85.19% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO William Shane Trigg sold 4,000 shares of the firm's stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $276.95, for a total value of $1,107,800.00. Following the completion of the sale, the chief executive officer owned 59,556 shares of the company's stock, valued at $16,494,034.20. This trade represents a 6.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Klaus Schauser sold 3,000 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $295.14, for a total value of $885,420.00. Following the sale, the insider owned 300,000 shares of the company's stock, valued at $88,542,000. The trade was a 0.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 58,803 shares of company stock valued at $16,938,949. Company insiders own 4.68% of the company's stock.

Wall Street Analysts Forecast Growth

APPF has been the subject of several recent analyst reports. DA Davidson reiterated a "buy" rating and issued a $350.00 price objective on shares of AppFolio in a report on Friday, August 1st. Keefe, Bruyette & Woods increased their price target on AppFolio from $295.00 to $311.00 and gave the company a "market perform" rating in a research note on Wednesday, September 3rd. Finally, Piper Sandler raised AppFolio from a "neutral" rating to an "overweight" rating and raised their target price for the company from $240.00 to $350.00 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 company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $311.80.

AppFolio Stock Performance

Shares of NASDAQ:APPF traded up $0.49 during midday trading on Wednesday, reaching $276.75. The company had a trading volume of 198,421 shares, compared to its average volume of 227,514. AppFolio, Inc. has a 1-year low of $189.01 and a 1-year high of $326.04. The firm has a market cap of $9.92 billion, a price-to-earnings ratio of 49.95 and a beta of 0.89. The company has a fifty day simple moving average of $272.35 and a two-hundred day simple moving average of $237.68.

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 the consensus estimate of $1.27 by $0.11. AppFolio had a net margin of 23.54% and a return on equity of 26.32%. The company had revenue of $235.58 million during the quarter, compared to analysts' expectations of $230.10 million. During the same period last year, the company posted $1.12 earnings per share. The business's revenue for the quarter was up 19.4% on a year-over-year basis. AppFolio has set its FY 2025 guidance at EPS. Analysts expect that AppFolio, Inc. will post 3.96 EPS 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.