AppFolio, Inc. $APPF Position Reduced by Comerica Bank

Key Points

• Comerica Bank reduced its stake in AppFolio, Inc. by 41.1% in the first quarter, lowering its holdings to 7,127 shares valued at $1,567,000.
• AppFolio reported earnings of $1.38 per share for the last quarter, exceeding analyst expectations and showing a 19.4% increase in revenue compared to the previous year.
• Analysts have a consensus rating of "Moderate Buy" for AppFolio, with a price target averaging $311.80, reflecting positive growth prospects for the company.

Comerica Bank cut its position in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 41.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,127 shares of the software maker's stock after selling 4,963 shares during the quarter. Comerica Bank's holdings in AppFolio were worth $1,567,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in APPF. Colonial Trust Co SC acquired a new stake in shares of AppFolio in the fourth quarter valued at about $28,000. Fifth Third Bancorp boosted its position in shares of 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 during the period. Versant Capital Management Inc increased its stake in AppFolio by 4,975.0% during the 1st quarter. Versant Capital Management Inc now owns 203 shares of the software maker's stock worth $45,000 after acquiring an additional 199 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of AppFolio during the 1st quarter valued at $55,000. Finally, Blue Trust Inc. raised its stake in AppFolio by 330.2% during the 1st quarter. Blue Trust Inc. now owns 271 shares of the software maker's stock worth $60,000 after buying an additional 208 shares during the period. 85.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Piper Sandler raised AppFolio from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $240.00 to $350.00 in a research note on Friday, August 1st. DA Davidson reiterated a "buy" rating and set a $350.00 price objective on shares of AppFolio in a research note on Friday, August 1st. Finally, Keefe, Bruyette & Woods raised their target price on shares of AppFolio from $295.00 to $311.00 and gave the stock a "market perform" rating in a report on Wednesday, September 3rd. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, AppFolio has an average rating of "Moderate Buy" and an average price target of $311.80.

AppFolio Stock Performance

APPF traded up $1.10 during trading on Monday, reaching $285.91. The company had a trading volume of 112,589 shares, compared to its average volume of 312,187. The company has a market cap of $10.25 billion, a price-to-earnings ratio of 51.56 and a beta of 0.89. The firm's 50-day simple moving average is $265.56 and its 200 day simple moving average is $234.32. AppFolio, Inc. has a 12-month low of $189.01 and a 12-month 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 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $0.11. AppFolio had a net margin of 23.54% and a return on equity of 26.32%. The company had revenue of $235.58 million during the quarter, compared to the consensus estimate of $230.10 million. During the same period last year, the firm earned $1.12 EPS. The firm's revenue for the quarter was up 19.4% compared to the same quarter last year. AppFolio has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that AppFolio, Inc. will post 3.96 EPS for the current year.

Insider Activity at AppFolio

In related news, CEO William Shane Trigg sold 3,012 shares of the company's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $264.98, for a total transaction of $798,119.76. Following the completion of the sale, the chief executive officer directly owned 63,556 shares in the company, valued at $16,841,068.88. This represents a 4.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Klaus Schauser sold 3,000 shares of AppFolio stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $295.14, for a total value of $885,420.00. Following the completion of the sale, the insider directly owned 300,000 shares in the company, valued at $88,542,000. This represents a 0.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 53,985 shares of company stock valued at $15,348,953 over the last quarter. Corporate insiders own 4.68% of the company's stock.

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.