Caisse DE Depot ET Placement DU Quebec Purchases 102,586 Shares of AppFolio, Inc. $APPF

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its holdings in AppFolio, Inc. by 364.4% during Q1, acquiring 102,586 additional shares, bringing its total ownership to 130,737 shares valued at approximately $28.7 million.
• Directors Timothy K. Bliss and Robert Donald Casey III made significant stock purchases, with Bliss acquiring 7,500 shares worth $1.6 million and Casey purchasing 4,000 shares valued at $870,920.
• AppFolio's share price opened at $273.73 and the company recently reported earnings of $1.38 per share, beating analysts’ expectations and indicating a 19.4% year-over-year revenue growth.

Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 364.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 130,737 shares of the software maker's stock after acquiring an additional 102,586 shares during the period. Caisse DE Depot ET Placement DU Quebec owned about 0.36% of AppFolio worth $28,749,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of APPF. Fifth Third Bancorp boosted its holdings in AppFolio by 53.0% in the 1st quarter. Fifth Third Bancorp now owns 179 shares of the software maker's stock worth $39,000 after buying an additional 62 shares during the period. Tidal Investments LLC boosted its holdings in AppFolio by 4.7% in the 4th quarter. Tidal Investments LLC now owns 1,492 shares of the software maker's stock worth $368,000 after buying an additional 67 shares during the period. Deutsche Bank AG boosted its holdings in AppFolio by 3.3% in the 1st quarter. Deutsche Bank AG now owns 2,362 shares of the software maker's stock worth $519,000 after buying an additional 75 shares during the period. ProShare Advisors LLC boosted its holdings in AppFolio by 7.8% in the 4th quarter. ProShare Advisors LLC now owns 1,126 shares of the software maker's stock worth $278,000 after buying an additional 81 shares during the period. Finally, State of Alaska Department of Revenue boosted its holdings in AppFolio by 3.2% in the 1st quarter. State of Alaska Department of Revenue now owns 2,720 shares of the software maker's stock worth $598,000 after buying an additional 85 shares during the period. Institutional investors own 85.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on APPF shares. Piper Sandler raised shares of AppFolio from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $240.00 to $350.00 in a report on Friday, August 1st. Keefe, Bruyette & Woods raised shares of AppFolio from an "underperform" rating to a "market perform" rating and upped their target price for the stock from $205.00 to $267.00 in a report on Thursday, July 31st. Finally, DA Davidson reaffirmed a "buy" rating and issued a $350.00 target price on shares of AppFolio in a report on Friday, August 1st. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, AppFolio has a consensus rating of "Moderate Buy" and a consensus target price of $303.00.

Insider Activity

In other news, CFO Timothy Mathias Eaton sold 667 shares of the company's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $276.58, for a total transaction of $184,478.86. Following the sale, the chief financial officer directly owned 11,142 shares in the company, valued at approximately $3,081,654.36. This represents a 5.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William Shane Trigg sold 3,012 shares of the company's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $264.98, for a total transaction of $798,119.76. Following the sale, the chief executive officer owned 63,556 shares in the company, valued at $16,841,068.88. This represents a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have acquired 18,500 shares of company stock worth $4,024,220 and have sold 53,985 shares worth $15,348,953. Corporate insiders own 4.68% of the company's stock.

AppFolio Price Performance

Shares of NASDAQ APPF traded up $1.16 during mid-day trading on Friday, hitting $277.38. 221,099 shares of the company's stock traded hands, compared to its average volume of 421,578. The company's 50-day moving average is $260.70 and its two-hundred day moving average is $232.01. The company has a market capitalization of $9.94 billion, a P/E ratio of 50.07 and a beta of 0.95. AppFolio, Inc. has a 1 year low of $189.01 and a 1 year high of $326.04.

AppFolio (NASDAQ:APPF - Get Free Report) last announced its 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 firm had revenue of $235.58 million for 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%. The business's revenue was up 19.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.12 EPS. AppFolio has set its FY 2025 guidance at EPS. Equities analysts anticipate 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.