Charles Schwab Investment Management Inc. Sells 7,299 Shares of AppFolio, Inc. $APPF

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in AppFolio, Inc. by 4.4%, selling 7,299 shares, yet still holds 159,543 shares valued at $35,084,000.
• AppFolio's recent quarterly earnings surpassed expectations, reporting a $1.38 EPS against a forecast of $1.27, with revenues of $235.58 million.
• Several institutional investors, including New York State Teachers Retirement System, made significant adjustments to their positions in AppFolio during the first quarter, with a total institutional ownership of 85.19%.

Charles Schwab Investment Management Inc. cut its position in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 4.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 159,543 shares of the software maker's stock after selling 7,299 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.44% of AppFolio worth $35,084,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Colonial Trust Co SC acquired a new position in AppFolio during the 4th quarter worth approximately $28,000. Fifth Third Bancorp increased its position in AppFolio by 53.0% during the 1st quarter. Fifth Third Bancorp now owns 179 shares of the software maker's stock worth $39,000 after purchasing an additional 62 shares in the last quarter. Versant Capital Management Inc increased its position in AppFolio by 4,975.0% in the 1st quarter. Versant Capital Management Inc now owns 203 shares of the software maker's stock valued at $45,000 after acquiring an additional 199 shares during the period. Blue Trust Inc. increased its position in AppFolio by 330.2% in the 1st quarter. Blue Trust Inc. now owns 271 shares of the software maker's stock valued at $60,000 after acquiring an additional 208 shares during the period. Finally, UMB Bank n.a. increased its position in AppFolio by 73.1% in the 1st quarter. UMB Bank n.a. now owns 289 shares of the software maker's stock valued at $64,000 after acquiring an additional 122 shares during the period. 85.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AppFolio

In related news, Director Timothy K. Bliss bought 7,500 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were acquired at an average cost of $217.02 per share, with a total value of $1,627,650.00. Following the completion of the purchase, the director directly owned 7,500 shares in the company, valued at $1,627,650. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert Donald Casey III bought 4,000 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were bought at an average cost of $217.73 per share, for a total transaction of $870,920.00. Following the completion of the purchase, the director owned 27,856 shares of the company's stock, valued at $6,065,086.88. This represents a 16.77% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 18,500 shares of company stock valued at $4,024,220 and sold 41,018 shares valued at $11,774,602. Insiders own 4.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Keefe, Bruyette & Woods upgraded shares of AppFolio from an "underperform" rating to a "market perform" rating and upped their price target for the company from $205.00 to $267.00 in a research report on Thursday, July 31st. Piper Sandler upgraded shares of AppFolio from a "neutral" rating to an "overweight" rating and upped their price target for the company from $240.00 to $350.00 in a research report on Friday, August 1st. Finally, DA Davidson restated a "buy" rating and issued a $350.00 price target 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 stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $303.00.

AppFolio Price Performance

Shares of APPF traded up $5.35 during trading hours on Friday, hitting $275.32. 328,243 shares of the stock were exchanged, compared to its average volume of 428,240. AppFolio, Inc. has a fifty-two week low of $189.01 and a fifty-two week high of $326.04. The business has a 50-day moving average of $255.51 and a 200-day moving average of $230.11. The firm has a market capitalization of $9.87 billion, a P/E ratio of 49.70 and a beta of 0.95.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The software maker reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.11. The company had revenue of $235.58 million during 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%. AppFolio's revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.12 earnings per share. AppFolio has set its FY 2025 guidance at EPS. As a group, analysts forecast 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.