AppFolio, Inc. $APPF Shares Purchased by Vanguard Group Inc.

Key Points

• Vanguard increased its stake in AppFolio by 4.1% in Q4 to 2,560,460 shares, representing a 7.13% ownership stake valued at about $595.7 million.
• Quarterly results beat expectations: AppFolio reported $1.61 EPS vs. $1.47 consensus and revenue of $262.21 million, up 20.7% year‑over‑year.
• Analyst sentiment and valuation: The stock has a "Moderate Buy" consensus (nine Buys, one Hold) with an average target of $252.29, while shares trade around $173 with a market cap of $6.12 billion and a P/E of 41.21.

Vanguard Group Inc. increased its holdings in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 4.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,560,460 shares of the software maker's stock after purchasing an additional 101,466 shares during the period. Vanguard Group Inc. owned 7.13% of AppFolio worth $595,691,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of APPF. M&T Bank Corp lifted its stake in shares of AppFolio by 1,643.8% in the 4th quarter. M&T Bank Corp now owns 96,153 shares of the software maker's stock worth $22,370,000 after acquiring an additional 90,639 shares during the period. Nordea Investment Management AB acquired a new stake in shares of AppFolio in the 4th quarter worth $8,795,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of AppFolio in the 3rd quarter worth $8,275,000. Citigroup Inc. lifted its stake in shares of AppFolio by 140.3% in the 3rd quarter. Citigroup Inc. now owns 15,641 shares of the software maker's stock worth $4,312,000 after acquiring an additional 9,132 shares during the period. Finally, Mission Wealth Management LP lifted its stake in shares of AppFolio by 16.7% in the 3rd quarter. Mission Wealth Management LP now owns 49,201 shares of the software maker's stock worth $13,563,000 after acquiring an additional 7,042 shares during the period. Institutional investors and hedge funds own 85.19% of the company's stock.

AppFolio Price Performance

Shares of NASDAQ APPF opened at $173.10 on Monday. AppFolio, Inc. has a 52 week low of $142.73 and a 52 week high of $326.04. The firm has a 50-day moving average price of $165.61 and a 200 day moving average price of $203.79. The stock has a market capitalization of $6.12 billion, a price-to-earnings ratio of 41.21 and a beta of 0.82.

AppFolio (NASDAQ:APPF - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The software maker reported $1.61 EPS for the quarter, beating the consensus estimate of $1.47 by $0.14. AppFolio had a net margin of 15.27% and a return on equity of 32.35%. The firm had revenue of $262.21 million during the quarter, compared to analysts' expectations of $258.13 million. During the same quarter last year, the business earned $1.21 earnings per share. The business's revenue for the quarter was up 20.7% compared to the same quarter last year. Equities research analysts expect that AppFolio, Inc. will post 5.04 EPS for the current fiscal year.

Insider Activity at AppFolio

In related news, CEO William Shane Trigg sold 6,963 shares of the firm's stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $169.73, for a total value of $1,181,829.99. Following the completion of the sale, the chief executive officer owned 52,920 shares in the company, valued at $8,982,111.60. This trade represents a 11.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.68% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on APPF shares. JPMorgan Chase & Co. reduced their target price on shares of AppFolio from $330.00 to $300.00 and set an "overweight" rating for the company in a research note on Friday, January 30th. KeyCorp restated an "overweight" rating on shares of AppFolio in a research note on Monday, February 2nd. William Blair restated an "outperform" rating on shares of AppFolio in a research note on Friday, January 30th. UBS Group set a $210.00 target price on shares of AppFolio in a research note on Friday, April 24th. Finally, DA Davidson reduced their target price on shares of AppFolio from $325.00 to $275.00 and set a "buy" rating for the company in a research note on Friday, January 30th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, AppFolio currently has an average rating of "Moderate Buy" and an average target price of $252.29.

AppFolio Profile

AppFolio, Inc is a Santa Barbara–based provider of cloud-based software solutions for the property management and legal industries. Founded in 2006 by former software executives, the company went public on the NASDAQ under the symbol APPF in 2015. Its original offering, AppFolio Property Manager, automates accounting, marketing, leasing, and maintenance functions for residential, commercial, student housing, and community association managers.

In 2019, AppFolio expanded its portfolio with the acquisition of MyCase, a web-based legal practice management platform for small to mid-size law firms.

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