Greenstone Partners & Co. LLC Has $24.57 Million Stock Position in AppFolio, Inc. $APPF

Key Points

• Greenstone Partners & Co. LLC has reduced its stake in AppFolio, Inc. by 1.2%, making it the firm's 7th largest position at approximately 6.5% of their total holdings.
• AppFolio reported earnings of $1.38 per share for the last quarter, surpassing analysts' expectations of $1.27 per share, and revenue reached $235.58 million, reflecting a year-over-year growth of 19.4%.
• Analysts have a consensus rating of "Moderate Buy" for AppFolio, with price targets ranging from $267 to $350, indicating positive sentiment about the stock's future performance.

Greenstone Partners & Co. LLC decreased its position in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 1.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 111,740 shares of the software maker's stock after selling 1,327 shares during the period. AppFolio accounts for approximately 6.5% of Greenstone Partners & Co. LLC's investment portfolio, making the stock its 7th largest position. Greenstone Partners & Co. LLC owned 0.31% of AppFolio worth $24,572,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in APPF. AQR Capital Management LLC boosted 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 valued at $161,756,000 after purchasing an additional 197,700 shares during the period. Gilder Gagnon Howe & Co. LLC raised its stake in shares of AppFolio by 4.7% during the 4th 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 in the last quarter. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of AppFolio during the 4th quarter worth approximately $103,503,000. Principal Financial Group Inc. raised its position in shares of AppFolio by 121.2% during the 1st quarter. Principal Financial Group Inc. now owns 401,888 shares of the software maker's stock worth $88,375,000 after purchasing an additional 220,239 shares during the last quarter. Finally, Nellore Capital Management LLC grew its holdings in AppFolio by 18.6% in the fourth quarter. Nellore Capital Management LLC now owns 371,934 shares of the software maker's stock valued at $91,764,000 after purchasing an additional 58,315 shares during the period. Hedge funds and other institutional investors own 85.19% of the company's stock.

Insider Activity

In other news, Director Timothy K. Bliss purchased 7,500 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were purchased at an average cost of $217.02 per share, for a total transaction of $1,627,650.00. Following the completion of the purchase, the director directly owned 7,500 shares of the company's stock, valued at approximately $1,627,650. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Elizabeth Erin Barat sold 4,682 shares of the firm's 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 owned 17,926 shares of the company's stock, valued at approximately $4,083,363.54. This represents a 20.71% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 18,500 shares of company stock valued at $4,024,220 and sold 41,018 shares valued at $11,774,602. 4.68% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. DA Davidson restated a "buy" rating and set a $350.00 price objective on shares of AppFolio in a report on Friday, August 1st. Keefe, Bruyette & Woods raised AppFolio from an "underperform" rating to a "market perform" rating and increased their target price for the stock from $205.00 to $267.00 in a report on Thursday, July 31st. Finally, Piper Sandler raised AppFolio from a "neutral" rating to an "overweight" rating and upped their target price for the company from $240.00 to $350.00 in a report 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's stock. According to MarketBeat, AppFolio currently has a consensus rating of "Moderate Buy" and a consensus price target of $303.00.

AppFolio Stock Performance

Shares of NASDAQ APPF traded down $0.53 during mid-day trading on Monday, reaching $274.79. 242,051 shares of the company traded hands, compared to its average volume of 317,008. The stock has a market cap of $9.85 billion, a PE ratio of 49.60 and a beta of 0.95. The company's fifty day moving average is $255.51 and its two-hundred day moving average is $230.14. AppFolio, Inc. has a fifty-two week low of $189.01 and a fifty-two week high of $326.04.

AppFolio (NASDAQ:APPF - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The software maker reported $1.38 EPS for the quarter, beating analysts' consensus estimates of $1.27 by $0.11. The business had revenue of $235.58 million for 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 revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.12 EPS. AppFolio has set its FY 2025 guidance at EPS. Research analysts forecast that AppFolio, Inc. will post 3.96 earnings per share for the current year.

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.