Vident Advisory LLC Decreases Stock Holdings in 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 first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in APPF. Colonial Trust Co SC bought a new stake in AppFolio in the 4th quarter worth approximately $28,000. Fifth Third Bancorp increased its position in shares of AppFolio by 53.0% during the 1st quarter. Fifth Third Bancorp now owns 179 shares of the software maker's stock valued at $39,000 after purchasing an additional 62 shares during the last quarter. Versant Capital Management Inc increased 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 purchasing an additional 199 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of AppFolio during the 1st quarter valued at approximately $55,000. Finally, Blue Trust Inc. increased its position in shares of AppFolio by 330.2% during the 1st quarter. Blue Trust Inc. now owns 271 shares of the software maker's stock valued at $60,000 after purchasing an additional 208 shares during the last quarter. Institutional investors own 85.19% of the company's stock.

Insider Transactions at AppFolio

In other AppFolio news, Director Janet Kerr sold 2,500 shares of the company's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $285.04, for a total value of $712,600.00. Following the completion of the sale, the director directly owned 11,995 shares in the company, valued at approximately $3,419,054.80. This represents a 17.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Timothy Mathias Eaton sold 667 shares of the company's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $276.58, for a total value of $184,478.86. Following the completion of the sale, the chief financial officer owned 11,142 shares of the company's stock, valued at $3,081,654.36. This represents a 5.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 51,803 shares of company stock valued at $14,995,040 over the last 90 days. 4.68% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on APPF. Keefe, Bruyette & Woods boosted their target price on AppFolio from $295.00 to $311.00 and gave the company a "market perform" rating in a research report on Wednesday, September 3rd. Piper Sandler raised AppFolio from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $240.00 to $350.00 in a research report on Friday, August 1st. Finally, DA Davidson reissued a "buy" rating and set a $350.00 target price on shares of AppFolio in a research report on Friday, August 1st. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, AppFolio presently has an average rating of "Moderate Buy" and a consensus target price of $311.80.

AppFolio Stock Up 1.7%

APPF traded up $4.76 during trading hours on Thursday, reaching $281.48. 233,890 shares of the company's stock traded hands, compared to its average volume of 237,557. The firm has a 50-day moving average price of $269.48 and a 200 day moving average price of $235.90. AppFolio, Inc. has a 52-week low of $189.01 and a 52-week high of $326.04. The firm has a market capitalization of $10.09 billion, a PE ratio of 50.81 and a beta of 0.89.

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

AppFolio Company 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.