AppFolio, Inc. $APPF Shares Bought by Johnson Investment Counsel Inc.

Key Points

• Johnson Investment Counsel Inc. increased its stake in AppFolio, Inc. by 22.4%, owning a total of 13,242 shares valued at approximately $3,049,000 as of the latest SEC filing.
• Analysts have shown strong confidence in AppFolio, with Piper Sandler upgrading its rating and setting a new target price of $350.00, while the average consensus target price stands at $311.80.
• The recent trading activity shows AppFolio's shares were trading down 2.5% at around $224.87, with a market cap of $8.06 billion and a PE ratio of 40.59.

Johnson Investment Counsel Inc. increased its stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 22.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,242 shares of the software maker's stock after purchasing an additional 2,422 shares during the period. Johnson Investment Counsel Inc.'s holdings in AppFolio were worth $3,049,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of APPF. Kayne Anderson Rudnick Investment Management LLC boosted its stake in AppFolio by 84.4% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 773,579 shares of the software maker's stock worth $170,110,000 after purchasing an additional 354,061 shares in the last quarter. Principal Financial Group Inc. boosted its stake 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 purchasing an additional 220,239 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in AppFolio by 4,272.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 172,972 shares of the software maker's stock worth $38,037,000 after purchasing an additional 169,016 shares in the last quarter. Fiera Capital Corp acquired a new stake in AppFolio in the 1st quarter worth approximately $35,896,000. Finally, Brown Advisory Inc. acquired a new stake in AppFolio in the 1st quarter worth approximately $27,800,000. 85.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

APPF has been the subject of a number of recent analyst reports. Piper Sandler upgraded shares of AppFolio from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $240.00 to $350.00 in a research note on Friday, August 1st. Keefe, Bruyette & Woods raised their price target on shares of AppFolio from $295.00 to $311.00 and gave the stock a "market perform" rating in a research report on Wednesday, September 3rd. DA Davidson reissued a "buy" rating and set a $350.00 price target on shares of AppFolio in a research report on Friday, August 1st. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of AppFolio in a research report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $311.80.

AppFolio Trading Down 2.5%

APPF opened at $224.87 on Monday. AppFolio, Inc. has a 12-month low of $189.01 and a 12-month high of $326.04. The firm has a market capitalization of $8.06 billion, a PE ratio of 40.59 and a beta of 0.83. The firm has a 50 day moving average of $273.81 and a two-hundred day moving average of $243.19.

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

Insider Activity

In other news, major shareholder Klaus Schauser sold 3,000 shares of AppFolio stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $295.14, for a total transaction of $885,420.00. Following the completion of the transaction, the insider directly owned 300,000 shares of the company's stock, valued at $88,542,000. The trade was a 0.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $321.38, for a total transaction of $996,278.00. Following the transaction, the insider directly owned 42,400 shares of the company's stock, valued at approximately $13,626,512. This trade represents a 6.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 58,803 shares of company stock valued at $16,938,949 in the last three months. 4.68% of the stock is currently owned by corporate insiders.

About AppFolio

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.

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