AppFolio, Inc. $APPF Shares Sold by AMI Asset Management Corp

Key Points

• AMI Asset Management Corp reduced its stake in AppFolio, Inc. by 46.0%, now owning 2,718 shares valued at $626,000, following the sale of 2,314 shares in the second quarter.
• Analysts have generally favorable views on AppFolio, with Piper Sandler upgrading the stock to "overweight" and setting a price target of $350.00, while the consensus rating remains "Moderate Buy" at an average price target of $311.80.
• AppFolio's stock currently has a market capitalization of $9.20 billion, with a one-year price range between $189.01 and $326.04, and has reported a net margin of 23.54% for the last quarter.

AMI Asset Management Corp trimmed its stake in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 46.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,718 shares of the software maker's stock after selling 2,314 shares during the period. AMI Asset Management Corp's holdings in AppFolio were worth $626,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of APPF. Wealth Enhancement Advisory Services LLC lifted its position in shares of AppFolio by 69.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 10,955 shares of the software maker's stock valued at $2,703,000 after acquiring an additional 4,492 shares during the period. Versant Capital Management Inc lifted its position in shares of AppFolio by 4,975.0% during the 1st quarter. Versant Capital Management Inc now owns 203 shares of the software maker's stock valued at $45,000 after acquiring an additional 199 shares during the period. Parallel Advisors LLC increased its stake in shares of AppFolio by 79.8% during the 1st quarter. Parallel Advisors LLC now owns 1,043 shares of the software maker's stock worth $229,000 after purchasing an additional 463 shares in the last quarter. Rhumbline Advisers increased its stake in shares of AppFolio by 0.7% during the 1st quarter. Rhumbline Advisers now owns 64,229 shares of the software maker's stock worth $14,124,000 after purchasing an additional 437 shares in the last quarter. Finally, Alpha Wealth Funds LLC purchased a new position in shares of AppFolio during the 1st quarter worth approximately $880,000. 85.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

APPF has been the subject of a number of recent research reports. Piper Sandler raised shares of AppFolio from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $240.00 to $350.00 in a research note on Friday, August 1st. Keefe, Bruyette & Woods raised their price objective on shares of AppFolio from $295.00 to $311.00 and gave the stock a "market perform" rating in a research note on Wednesday, September 3rd. Finally, DA Davidson reissued a "buy" rating and set a $350.00 price objective on shares of AppFolio in a research note on Friday, August 1st. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $311.80.

Insider Transactions at AppFolio

In other AppFolio news, CFO Timothy Mathias Eaton sold 667 shares of AppFolio stock in a transaction on Monday, August 25th. The shares were sold at an average price of $276.58, for a total value of $184,478.86. Following the transaction, the chief financial officer owned 11,142 shares in the company, valued at $3,081,654.36. This trade represents a 5.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Maurice J. Duca sold 2,500 shares of AppFolio stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $275.57, for a total transaction of $688,925.00. Following the completion of the transaction, the insider owned 55,795 shares in the company, valued at approximately $15,375,428.15. This trade represents a 4.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,803 shares of company stock worth $16,938,949 in the last three months. 4.68% of the stock is currently owned by company insiders.

AppFolio Stock Performance

APPF stock opened at $256.54 on Thursday. The stock has a market capitalization of $9.20 billion, a P/E ratio of 46.31 and a beta of 0.83. AppFolio, Inc. has a one year low of $189.01 and a one year high of $326.04. The company has a 50 day moving average price of $278.15 and a two-hundred day moving average price of $241.92.

AppFolio (NASDAQ:APPF - Get Free Report) last released its earnings results on Thursday, July 31st. The software maker reported $1.38 EPS for the quarter, topping the consensus estimate of $1.27 by $0.11. The firm had revenue of $235.58 million during the quarter, compared to analysts' expectations of $230.10 million. AppFolio had a net margin of 23.54% and a return on equity of 26.32%. AppFolio's revenue for the quarter was up 19.4% on a year-over-year basis. During the same period in the previous year, the company earned $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 fiscal year.

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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