Jacobs Levy Equity Management Inc. Purchases 169,016 Shares of AppFolio, Inc. $APPF

Key Points

• Jacobs Levy Equity Management Inc. significantly increased its stake in AppFolio, owning 172,972 shares after buying 169,016 additional shares, representing a 4,272.4% increase.
• AppFolio's stock has received multiple upgrades from analysts, with price targets as high as $350.00 and a consensus rating of "Moderate Buy" following recent performance and revenue growth.
• The company reported earnings of $1.38 EPS for the last quarter, surpassing estimates, and indicated a revenue increase of 19.4% year-over-year, further strengthening its investor appeal.

Jacobs Levy Equity Management Inc. boosted its holdings in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 4,272.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 172,972 shares of the software maker's stock after purchasing an additional 169,016 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.48% of AppFolio worth $38,037,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in APPF. EFG Asset Management North America Corp. boosted its position in shares of AppFolio by 25.9% during the 1st quarter. EFG Asset Management North America Corp. now owns 13,612 shares of the software maker's stock valued at $2,994,000 after acquiring an additional 2,796 shares during the last quarter. EP Wealth Advisors LLC bought a new position in shares of AppFolio during the 1st quarter valued at approximately $320,000. PDT Partners LLC boosted its position in shares of AppFolio by 23.9% during the 1st quarter. PDT Partners LLC now owns 5,704 shares of the software maker's stock valued at $1,254,000 after acquiring an additional 1,100 shares during the last quarter. Alamar Capital Management LLC bought a new position in shares of AppFolio in the 1st quarter valued at about $2,501,000. Finally, Royal Bank of Canada lifted its holdings in shares of AppFolio by 22.6% in the 1st quarter. Royal Bank of Canada now owns 45,452 shares of the software maker's stock valued at $9,993,000 after acquiring an additional 8,367 shares during the last quarter. 85.19% of the stock is currently owned by institutional investors.

AppFolio Price Performance

Shares of NASDAQ:APPF traded up $3.73 on Thursday, hitting $280.45. 64,568 shares of the company's stock were exchanged, compared to its average volume of 310,731. AppFolio, Inc. has a 12 month low of $189.01 and a 12 month high of $326.04. The stock has a market capitalization of $10.05 billion, a price-to-earnings ratio of 50.69 and a beta of 0.89. The business's 50 day simple moving average is $268.56 and its two-hundred day simple moving average is $235.44.

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

Analyst Ratings Changes

A number of research analysts recently commented on APPF shares. DA Davidson reaffirmed a "buy" rating and issued a $350.00 price target on shares of AppFolio in a report on Friday, August 1st. Piper Sandler raised shares of AppFolio from a "neutral" rating to an "overweight" rating and increased their price target for the company from $240.00 to $350.00 in a report on Friday, August 1st. Finally, Keefe, Bruyette & Woods raised their price target on AppFolio from $295.00 to $311.00 and gave the stock a "market perform" rating in a research report on Wednesday, September 3rd. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, AppFolio presently has an average rating of "Moderate Buy" and an average price target of $311.80.

Insider Transactions at AppFolio

In related news, 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 completion of the sale, the insider directly owned 55,795 shares in the company, 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 the SEC website. Also, CFO Timothy Mathias Eaton sold 667 shares of AppFolio stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $276.58, for a total value of $184,478.86. Following the completion of the sale, the chief financial officer owned 11,142 shares of the company's stock, valued at $3,081,654.36. The trade was a 5.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,803 shares of company stock valued at $14,995,040. Insiders own 4.68% of the company's stock.

AppFolio Company 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.