AppFolio, Inc. $APPF Shares Sold by Channel Wealth LLC

Key Points

• Channel Wealth LLC reduced its stake in AppFolio, Inc. by 7.3%, selling 1,311 shares and now holding 16,526 shares valued at approximately $3.8 million.
• Major shareholder Klaus Schauser sold 3,000 shares of AppFolio stock for about $885,420, while CEO William Shane Trigg sold 4,000 shares for roughly $1.1 million, indicating notable insider trading activity.
• Analysts are optimistic about AppFolio's performance, with a consensus rating of "Moderate Buy" and a target price averaging $311.80, boosted by recent positive earnings results.

Channel Wealth LLC lowered its position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 7.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,526 shares of the software maker's stock after selling 1,311 shares during the quarter. Channel Wealth LLC's holdings in AppFolio were worth $3,806,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of APPF. Fifth Third Bancorp boosted its holdings in AppFolio by 53.0% during the first quarter. Fifth Third Bancorp now owns 179 shares of the software maker's stock worth $39,000 after buying an additional 62 shares in the last quarter. Versant Capital Management Inc increased its holdings in AppFolio by 4,975.0% in the first quarter. Versant Capital Management Inc now owns 203 shares of the software maker's stock valued at $45,000 after buying an additional 199 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of AppFolio in the first quarter valued at approximately $55,000. Blue Trust Inc. grew its position in AppFolio by 330.2% during the first quarter. Blue Trust Inc. now owns 271 shares of the software maker's stock valued at $60,000 after purchasing an additional 208 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in shares of AppFolio by 73.1% during the 1st 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. Hedge funds and other institutional investors own 85.19% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of AppFolio from $295.00 to $311.00 and gave the company a "market perform" rating in a research report on Wednesday, September 3rd. DA Davidson reaffirmed a "buy" rating and issued a $350.00 price target on shares of AppFolio in a research note on Friday, August 1st. Finally, Piper Sandler raised shares of 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. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $311.80.

Insiders Place Their Bets

In other news, Director Janet Kerr sold 2,500 shares of the company's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $285.04, for a total transaction of $712,600.00. Following the completion of the transaction, the director directly owned 11,995 shares in the company, valued at approximately $3,419,054.80. This represents a 17.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Maurice J. Duca sold 2,500 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $275.57, for a total value of $688,925.00. Following the transaction, the insider owned 55,795 shares in the company, valued at $15,375,428.15. The trade was a 4.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 58,803 shares of company stock worth $16,938,949 over the last ninety days. Company insiders own 4.68% of the company's stock.

AppFolio Stock Performance

Shares of NASDAQ APPF traded up $1.68 during trading on Friday, hitting $281.57. The company had a trading volume of 346,057 shares, compared to its average volume of 223,413. The business's 50-day moving average is $273.92 and its 200 day moving average is $238.67. The company has a market cap of $10.09 billion, a P/E ratio of 50.83 and a beta of 0.89. 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 posted its quarterly earnings results on Thursday, July 31st. The software maker reported $1.38 earnings per share for the quarter, topping analysts' consensus estimates of $1.27 by $0.11. The company had revenue of $235.58 million during the quarter, compared to the consensus estimate of $230.10 million. AppFolio had a return on equity of 26.32% and a net margin of 23.54%.The business's quarterly revenue was up 19.4% on a year-over-year basis. During the same period last year, the business earned $1.12 EPS. AppFolio has set its FY 2025 guidance at EPS. On average, research analysts expect that AppFolio, Inc. will post 3.96 EPS for the current 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.