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

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Barclays PLC lifted its stake in AppFolio by 82.9% in the fourth quarter. Barclays PLC now owns 18,084 shares of the software maker's stock valued at $4,463,000 after acquiring an additional 8,196 shares during the last quarter. Mariner LLC raised its stake in AppFolio by 9.0% in the 4th quarter. Mariner LLC now owns 2,107 shares of the software maker's stock valued at $520,000 after acquiring an additional 174 shares during the period. Dimensional Fund Advisors LP increased its position in shares of AppFolio by 45.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 189,405 shares of the software maker's stock worth $46,731,000 after purchasing an additional 59,279 shares during the period. Natixis acquired a new stake in shares of AppFolio during the fourth quarter valued at about $572,000. Finally, MetLife Investment Management LLC increased its holdings in AppFolio by 8.4% in the fourth quarter. MetLife Investment Management LLC now owns 14,001 shares of the software maker's stock worth $3,454,000 after purchasing an additional 1,084 shares in the last quarter. 85.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on APPF. DA Davidson reiterated a "buy" rating and set a $350.00 price objective on shares of AppFolio in a research report on Friday, August 1st. 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 report on Friday, August 1st. Finally, Keefe, Bruyette & Woods raised shares of AppFolio from an "underperform" rating to a "market perform" rating and raised their price target for the company from $205.00 to $267.00 in a research note on Thursday, July 31st. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $303.00.

AppFolio Trading Up 0.9%

NASDAQ APPF traded up $2.60 on Wednesday, reaching $276.33. The company's stock had a trading volume of 110,099 shares, compared to its average volume of 316,245. The business has a 50-day moving average price of $257.52 and a 200 day moving average price of $230.80. AppFolio, Inc. has a 52 week low of $189.01 and a 52 week high of $326.04. The firm has a market cap of $9.91 billion, a PE ratio of 49.78 and a beta of 0.95.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its 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 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 quarter last year, the company posted $1.12 EPS. AppFolio's quarterly revenue was up 19.4% compared to the same quarter last year. AppFolio has set its FY 2025 guidance at EPS. Analysts anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Maurice J. Duca sold 3,100 shares of the business's 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 sale, the insider directly owned 42,400 shares in the company, valued at $13,626,512. The trade was a 6.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William Shane Trigg sold 3,012 shares of the company's stock in a transaction on Friday, August 15th. The shares were 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 directly owned 63,556 shares in the company, valued at approximately $16,841,068.88. This trade represents a 4.52% 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 49,618 shares worth $14,144,697. Corporate 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.