AQR Capital Management LLC Has $39.75 Million Holdings in AppFolio, Inc. $APPF

AQR Capital Management LLC lessened its holdings in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 71.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 184,067 shares of the software maker's stock after selling 471,558 shares during the period. AQR Capital Management LLC owned about 0.51% of AppFolio worth $39,746,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of APPF. Mercer Global Advisors Inc. ADV grew its position in AppFolio by 151.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 2,238 shares of the software maker's stock valued at $552,000 after acquiring an additional 1,349 shares during the last quarter. Captrust Financial Advisors grew its position in AppFolio by 27.5% in the fourth quarter. Captrust Financial Advisors now owns 5,577 shares of the software maker's stock valued at $1,376,000 after acquiring an additional 1,203 shares during the last quarter. Crestline Management LP bought a new position in AppFolio in the fourth quarter valued at about $296,000. Colonial Trust Co SC bought a new position in AppFolio in the fourth quarter valued at about $28,000. Finally, Deutsche Bank AG grew its position in AppFolio by 90.6% in the fourth quarter. Deutsche Bank AG now owns 2,287 shares of the software maker's stock valued at $564,000 after acquiring an additional 1,087 shares during the last quarter. Institutional investors own 85.19% of the company's stock.

Insider Buying and Selling

In related news, CEO William Shane Trigg sold 3,012 shares of AppFolio stock in a transaction that occurred on 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 directly owned 63,556 shares of the company's stock, valued at $16,841,068.88. The trade was 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 through the SEC website. Also, major shareholder Klaus Schauser sold 3,000 shares of the business's stock in a transaction that occurred on 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 directly owned 300,000 shares in the company, valued at approximately $88,542,000. This trade represents a 0.99% 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 ninety days. 4.68% of the stock is owned by company insiders.

AppFolio Price Performance

Shares of AppFolio stock traded down $1.39 during midday trading on Friday, reaching $280.09. The company had a trading volume of 64,327 shares, compared to its average volume of 310,280. The stock has a fifty day moving average price of $269.48 and a 200 day moving average price of $235.90. The firm has a market cap of $10.04 billion, a PE ratio of 50.51 and a beta of 0.89. AppFolio, Inc. has a fifty-two week low of $189.01 and a fifty-two week high of $326.04.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The software maker reported $1.38 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $0.11. The company had revenue of $235.58 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the firm earned $1.12 earnings per share. AppFolio has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that AppFolio, Inc. will post 3.96 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.