Cetera Investment Advisers Invests $404,000 in AppFolio, Inc. $APPF

Key Points

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Cetera Investment Advisers purchased a new position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,835 shares of the software maker's stock, valued at approximately $404,000.

A number of other institutional investors have also added to or reduced their stakes in APPF. Colonial Trust Co SC purchased a new stake in shares of AppFolio in the fourth quarter worth approximately $28,000. Fifth Third Bancorp raised its stake in shares of AppFolio by 53.0% in the first quarter. Fifth Third Bancorp now owns 179 shares of the software maker's stock worth $39,000 after purchasing an additional 62 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of AppFolio by 4,975.0% in the first quarter. Versant Capital Management Inc now owns 203 shares of the software maker's stock worth $45,000 after purchasing an additional 199 shares during the last quarter. Blue Trust Inc. raised its stake in shares of AppFolio by 330.2% in the first quarter. Blue Trust Inc. now owns 271 shares of the software maker's stock worth $60,000 after purchasing an additional 208 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in shares of AppFolio by 73.1% in the first quarter. UMB Bank n.a. now owns 289 shares of the software maker's stock worth $64,000 after purchasing an additional 122 shares during the last quarter. 85.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AppFolio

In other news, Director Robert Donald Casey III acquired 4,000 shares of AppFolio stock in a transaction on Friday, June 6th. The stock was acquired at an average cost of $217.73 per share, with a total value of $870,920.00. Following the completion of the acquisition, the director owned 27,856 shares in the company, valued at approximately $6,065,086.88. This trade represents a 16.77% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Maurice J. Duca sold 3,100 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $321.38, for a total value of $996,278.00. Following the transaction, the insider directly owned 42,400 shares of the company's stock, valued at approximately $13,626,512. This trade represents a 6.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders purchased 18,500 shares of company stock valued at $4,024,220 and sold 41,018 shares valued at $11,774,602. 4.68% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Piper Sandler raised AppFolio from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $240.00 to $350.00 in a research note on Friday, August 1st. DA Davidson reaffirmed a "buy" rating and set a $350.00 price target on shares of AppFolio in a research report on Friday, August 1st. Finally, Keefe, Bruyette & Woods raised AppFolio from an "underperform" rating to a "market perform" rating and increased their price target for the company from $205.00 to $267.00 in a research report on Thursday, July 31st. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $303.00.

AppFolio Stock Performance

NASDAQ APPF traded up $5.35 on Friday, hitting $275.32. 328,243 shares of the stock traded hands, compared to its average volume of 428,240. The business's fifty day moving average is $255.51 and its two-hundred day moving average is $230.11. AppFolio, Inc. has a 12 month low of $189.01 and a 12 month high of $326.04. The firm has a market capitalization of $9.87 billion, a price-to-earnings ratio of 49.70 and a beta of 0.95.

AppFolio (NASDAQ:APPF - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The software maker reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.11. AppFolio had a return on equity of 26.32% and a net margin of 23.54%.The business had revenue of $235.58 million during the quarter, compared to analyst estimates of $230.10 million. During the same period in the prior year, the company earned $1.12 earnings per share. AppFolio's revenue was up 19.4% compared to the same quarter last year. AppFolio has set its FY 2025 guidance at EPS. Analysts expect 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.