Allianz Asset Management GmbH Sells 10,918 Shares of AppFolio, Inc. (NASDAQ:APPF)

Key Points

• Allianz Asset Management GmbH significantly reduced its stake in AppFolio, Inc. by 66.3%, selling 10,918 shares and ending the quarter with 5,553 shares valued at approximately $1.2 million.
• AppFolio reported a 19.4% increase in revenue year-over-year for the latest quarter, with earnings per share surpassing consensus estimates at $1.38.
• Analysts have a mixed outlook for AppFolio, with a consensus rating of "Moderate Buy" and target prices ranging from $267 to $350 following recent upgrades from multiple firms.

Allianz Asset Management GmbH lessened its position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 66.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,553 shares of the software maker's stock after selling 10,918 shares during the period. Allianz Asset Management GmbH's holdings in AppFolio were worth $1,221,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Colonial Trust Co SC bought a new position in AppFolio in the 4th quarter valued at $28,000. Fifth Third Bancorp boosted its stake in AppFolio by 53.0% during the first quarter. Fifth Third Bancorp now owns 179 shares of the software maker's stock valued at $39,000 after buying an additional 62 shares during the period. Versant Capital Management Inc grew its position in AppFolio by 4,975.0% during the first quarter. Versant Capital Management Inc now owns 203 shares of the software maker's stock worth $45,000 after buying an additional 199 shares in the last quarter. Aster Capital Management DIFC Ltd increased its stake in AppFolio by 10,300.0% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 208 shares of the software maker's stock worth $51,000 after acquiring an additional 206 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of AppFolio by 330.2% in the 1st quarter. Blue Trust Inc. now owns 271 shares of the software maker's stock valued at $60,000 after acquiring an additional 208 shares in the last quarter. 85.19% of the stock is currently owned by hedge funds and other institutional investors.

AppFolio Stock Performance

NASDAQ:APPF traded up $51.77 during mid-day trading on Friday, reaching $319.15. The stock had a trading volume of 1,105,219 shares, compared to its average volume of 245,217. AppFolio, Inc. has a one year low of $189.01 and a one year high of $320.36. The firm has a 50 day moving average price of $235.88 and a two-hundred day moving average price of $226.83. The stock has a market capitalization of $11.50 billion, a P/E ratio of 57.61 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 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.11. AppFolio had a net margin of 23.54% and a return on equity of 26.19%. The business had revenue of $235.58 million during the quarter, compared to the consensus estimate of $230.10 million. During the same period in the previous year, the firm posted $1.12 earnings per share. The firm's revenue for the quarter was up 19.4% on a year-over-year basis. Research analysts forecast that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Insider Transactions at AppFolio

In other AppFolio news, insider Elizabeth Erin Barat sold 4,682 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $227.79, for a total transaction of $1,066,512.78. Following the completion of the sale, the insider owned 17,926 shares of the company's stock, valued at $4,083,363.54. This represents a 20.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Timothy Mathias Eaton sold 1,057 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $221.13, for a total transaction of $233,734.41. Following the completion of the transaction, the chief financial officer owned 7,176 shares in the company, valued at $1,586,828.88. The trade was a 12.84% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 18,500 shares of company stock valued at $4,024,220 and have sold 14,639 shares valued at $3,433,222. Company insiders own 4.68% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on APPF shares. DA Davidson reiterated a "buy" rating and set a $350.00 price target on shares of AppFolio in a research report on Friday. Keefe, Bruyette & Woods upgraded AppFolio from an "underperform" rating to a "market perform" rating and lifted their price target for the company from $205.00 to $267.00 in a research report on Thursday. Finally, Piper Sandler upgraded 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 research report on Friday. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $303.00.

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.