Sellaronda Global Management LP Grows Holdings in AppFolio, Inc. $APPF

Key Points

• Sellaronda Global Management LP increased its holdings in AppFolio, Inc. by 433.3% during the first quarter, making it the biggest position in their portfolio with 80,000 shares valued at approximately $17.6 million.
• AppFolio reported $1.38 earnings per share for the latest quarter, exceeding analysts' expectations, while also seeing a 19.4% year-over-year revenue growth of $235.58 million.
• Wall Street analysts are optimistic about AppFolio's stock, with a consensus price target of $303.00 and several upgrades from "underperform" to "buy" ratings in recent reports.

Sellaronda Global Management LP boosted its stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 433.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,000 shares of the software maker's stock after purchasing an additional 65,000 shares during the quarter. AppFolio comprises approximately 17.5% of Sellaronda Global Management LP's portfolio, making the stock its biggest holding. Sellaronda Global Management LP owned approximately 0.22% of AppFolio worth $17,592,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Oberndorf William E raised its stake in AppFolio by 514.0% in the first quarter. Oberndorf William E now owns 24,184 shares of the software maker's stock valued at $5,318,000 after purchasing an additional 20,245 shares in the last quarter. Northern Trust Corp grew its holdings in shares of AppFolio by 0.8% in the first quarter. Northern Trust Corp now owns 193,780 shares of the software maker's stock worth $42,612,000 after purchasing an additional 1,493 shares during the last quarter. Versor Investments LP bought a new position in shares of AppFolio in the first quarter worth approximately $339,000. Alliance Wealth Advisors LLC UT purchased a new stake in AppFolio in the first quarter worth $387,000. Finally, Ground Swell Capital LLC purchased a new stake in AppFolio in the first quarter worth $204,000. 85.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. DA Davidson reaffirmed a "buy" rating and issued a $350.00 price target on shares of AppFolio in a research note on Friday, August 1st. Keefe, Bruyette & Woods raised AppFolio from an "underperform" rating to a "market perform" rating and lifted their price target for the stock from $205.00 to $267.00 in a research report on Thursday, July 31st. Finally, Piper Sandler upgraded AppFolio from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $240.00 to $350.00 in a report on Friday, August 1st. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, AppFolio has a consensus rating of "Moderate Buy" and an average price target of $303.00.

AppFolio Stock Up 0.3%

NASDAQ APPF traded up $0.7420 during trading hours on Monday, reaching $276.0620. The company's stock had a trading volume of 88,762 shares, compared to its average volume of 316,036. The firm's 50-day moving average price is $255.51 and its 200-day moving average price is $230.14. AppFolio, Inc. has a 1 year low of $189.01 and a 1 year high of $326.04. The company has a market capitalization of $9.90 billion, a price-to-earnings ratio of 49.98 and a beta of 0.95.

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

Insider Activity at AppFolio

In other news, CEO William Shane Trigg sold 3,012 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $264.98, for a total transaction of $798,119.76. Following the sale, the chief executive officer directly owned 63,556 shares of the company's stock, valued at $16,841,068.88. This represents a 4.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Maurice J. Duca sold 2,324 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $276.80, for a total value of $643,283.20. Following the sale, the insider directly owned 35,376 shares in the company, valued at $9,792,076.80. This trade represents a 6.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 18,500 shares of company stock worth $4,024,220 and have sold 41,018 shares worth $11,774,602. 4.68% of the stock is owned by corporate insiders.

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.