Cetera Investment Advisers Makes New Investment in AppFolio, Inc. $APPF

Key Points

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Cetera Investment Advisers bought a new stake in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,835 shares of the software maker's stock, valued at approximately $404,000.

Several other hedge funds and other institutional investors also recently modified their holdings of APPF. Barclays PLC lifted its position in AppFolio by 82.9% during the 4th quarter. Barclays PLC now owns 18,084 shares of the software maker's stock valued at $4,463,000 after acquiring an additional 8,196 shares during the period. Mariner LLC increased its stake in shares of AppFolio by 9.0% during the fourth quarter. Mariner LLC now owns 2,107 shares of the software maker's stock valued at $520,000 after purchasing an additional 174 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of AppFolio by 24.4% during the fourth quarter. Canada Pension Plan Investment Board now owns 53,000 shares of the software maker's stock valued at $13,076,000 after purchasing an additional 10,400 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of AppFolio by 45.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 189,405 shares of the software maker's stock valued at $46,731,000 after purchasing an additional 59,279 shares during the last quarter. Finally, Natixis purchased a new stake in shares of AppFolio in the 4th quarter worth approximately $572,000. Hedge funds and other institutional investors own 85.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on APPF. Piper Sandler upgraded AppFolio from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $240.00 to $350.00 in a research note on Friday, August 1st. Keefe, Bruyette & Woods raised AppFolio from an "underperform" rating to a "market perform" rating and lifted their price target for the stock from $205.00 to $267.00 in a research report on Thursday, July 31st. Finally, DA Davidson reissued a "buy" rating and set a $350.00 price objective 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's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $303.00.

Insider Transactions at AppFolio

In other AppFolio news, Director Robert Donald Casey III acquired 4,000 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were bought at an average price 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 $6,065,086.88. This represents a 16.77% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy K. Bliss bought 7,500 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was bought at an average cost of $217.02 per share, for a total transaction of $1,627,650.00. Following the completion of the acquisition, the director owned 7,500 shares in the company, valued at $1,627,650. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 18,500 shares of company stock worth $4,024,220 and have sold 41,018 shares worth $11,774,602. Company insiders own 4.68% of the company's stock.

AppFolio Stock Up 0.9%

APPF traded up $2.51 during midday trading on Thursday, hitting $269.97. 188,549 shares of the company traded hands, compared to its average volume of 317,409. The company's 50-day moving average is $253.66 and its 200 day moving average is $229.60. The firm has a market capitalization of $9.68 billion, a PE ratio of 48.73 and a beta of 0.95. AppFolio, Inc. has a 52 week low of $189.01 and a 52 week high of $326.04.

AppFolio (NASDAQ:APPF - Get Free Report) last released 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 net margin of 23.54% and a return on equity of 26.32%. The firm had revenue of $235.58 million during the quarter, compared to analysts' expectations of $230.10 million. During the same period in the previous year, the company earned $1.12 earnings per share. The firm's quarterly revenue was up 19.4% on a year-over-year basis. AppFolio has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

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.