Vident Advisory LLC Sells 4,042 Shares of AppFolio, Inc. $APPF

Key Points

• Vident Advisory LLC reduced its stake in AppFolio by 59.0%, now holding 2,804 shares valued at $617,000, while other hedge funds significantly increased their positions in the company during the first quarter.
• AppFolio reported an EPS of $1.38 for its last quarter, exceeding expectations, with revenue hitting $235.58 million, up 19.4% year-over-year.
• Analyst ratings have improved, with Piper Sandler raising its rating from "neutral" to "overweight" and setting a target price of $350.00 for AppFolio shares.

Vident Advisory LLC decreased its position in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 59.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,804 shares of the software maker's stock after selling 4,042 shares during the quarter. Vident Advisory LLC's holdings in AppFolio were worth $617,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. New York State Teachers Retirement System grew its holdings in shares of AppFolio by 80.8% in the 1st quarter. New York State Teachers Retirement System now owns 8,773 shares of the software maker's stock worth $1,929,000 after purchasing an additional 3,922 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of AppFolio in the 1st quarter worth about $420,000. Janney Montgomery Scott LLC bought a new stake in shares of AppFolio in the 1st quarter worth about $305,000. Oppenheimer Asset Management Inc. grew its holdings in shares of AppFolio by 34.8% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 5,049 shares of the software maker's stock worth $1,110,000 after purchasing an additional 1,304 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of AppFolio by 0.8% in the 1st 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. Institutional investors own 85.19% of the company's stock.

AppFolio Trading Up 0.6%

AppFolio stock traded up $1.65 during mid-day trading on Monday, hitting $286.46. The stock had a trading volume of 258,222 shares, compared to its average volume of 259,577. The stock has a 50-day simple moving average of $266.68 and a two-hundred day simple moving average of $234.84. The stock has a market capitalization of $10.27 billion, a PE ratio of 51.71 and a beta of 0.89. AppFolio, Inc. has a 12 month low of $189.01 and a 12 month high of $326.04.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The software maker reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.11. The business 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 quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.12 earnings per share. AppFolio has set its FY 2025 guidance at EPS. Sell-side analysts expect that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on APPF shares. DA Davidson reaffirmed a "buy" rating and issued a $350.00 price target on shares of AppFolio in a report on Friday, August 1st. Keefe, Bruyette & Woods lifted their price target on AppFolio from $295.00 to $311.00 and gave the company a "market perform" rating in a report on Wednesday, September 3rd. Finally, Piper Sandler raised AppFolio from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $240.00 to $350.00 in a report on Friday, August 1st. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $311.80.

Insider Transactions at AppFolio

In related news, CEO William Shane Trigg sold 3,012 shares of the firm's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $264.98, for a total value of $798,119.76. Following the transaction, the chief executive officer owned 63,556 shares in the company, valued at $16,841,068.88. This trade represents a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Klaus Schauser sold 3,000 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $295.14, for a total value of $885,420.00. Following the completion of the transaction, the insider owned 300,000 shares in the company, valued at approximately $88,542,000. This represents a 0.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 53,985 shares of company stock worth $15,348,953 in the last ninety days. 4.68% of the stock is currently owned by 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.