Dimensional Fund Advisors LP Purchases 9,600 Shares of AppFolio, Inc. $APPF

Dimensional Fund Advisors LP grew its holdings in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 3.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 296,627 shares of the software maker's stock after purchasing an additional 9,600 shares during the period. Dimensional Fund Advisors LP owned approximately 0.84% of AppFolio worth $46,812,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of APPF. Woodline Partners LP boosted its holdings in shares of AppFolio by 2.9% in the 1st quarter. Woodline Partners LP now owns 1,754 shares of the software maker's stock valued at $386,000 after acquiring an additional 50 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of AppFolio by 101.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker's stock valued at $26,000 after purchasing an additional 56 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in AppFolio by 4.8% in the third quarter. Mercer Global Advisors Inc. ADV now owns 1,263 shares of the software maker's stock valued at $348,000 after buying an additional 58 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of AppFolio by 48.8% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker's stock valued at $53,000 after purchasing an additional 63 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC increased its position in shares of AppFolio by 1.3% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 5,162 shares of the software maker's stock valued at $1,201,000 after buying an additional 64 shares in the last quarter. 85.19% of the stock is owned by hedge funds and other institutional investors.

More AppFolio News

Here are the key news stories impacting AppFolio this week:

• Positive Sentiment: Zacks upgrade: Zacks Research raised AppFolio from “Hold” to “Strong Buy,” which may attract momentum-oriented investors and strengthen confidence in the stock’s near-term outlook. Zacks upgrade
• Positive Sentiment: Strong momentum profile: Zacks highlighted AppFolio as a strong momentum stock based on its Style Scores. The coverage reinforces the stock’s recent price strength and could support additional buying interest. Why AppFolio is a Strong Momentum Stock
• Neutral Sentiment: Long-term performance spotlight: A retrospective article highlighting the substantial value created by a decade-long investment in AppFolio may reinforce the company’s long-term growth narrative, but it does not represent a new business development or earnings catalyst. AppFolio decade-long investment return
• Negative Sentiment: Major shareholder sales: Maurice J. Duca sold a combined 13,200 shares for roughly $2.40 million across July 28 and July 30. The sales reduce his holdings and could raise concerns about insider confidence, although all transactions were conducted under a pre-arranged Rule 10b5-1 plan, making them less bearish than discretionary selling. AppFolio SEC insider trading filing

AppFolio Stock Performance

Shares of NASDAQ APPF opened at $180.19 on Monday. The stock has a 50 day moving average of $166.40 and a two-hundred day moving average of $171.76. AppFolio, Inc. has a twelve month low of $142.56 and a twelve month high of $326.04. The stock has a market cap of $6.38 billion, a P/E ratio of 41.14 and a beta of 0.78.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The software maker reported $1.71 earnings per share for the quarter, topping analysts' consensus estimates of $1.69 by $0.02. AppFolio had a return on equity of 32.42% and a net margin of 15.13%.The company had revenue of $281.12 million during the quarter, compared to analysts' expectations of $277.35 million. During the same period last year, the firm earned $1.38 EPS. The firm's revenue for the quarter was up 19.3% on a year-over-year basis. As a group, research analysts predict that AppFolio, Inc. will post 5.16 earnings per share for the current year.

Insider Buying and Selling at AppFolio

In related news, major shareholder Maurice J. Duca sold 818 shares of the firm's stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $181.02, for a total value of $148,074.36. Following the completion of the transaction, the insider directly owned 73,662 shares of the company's stock, valued at $13,334,295.24. This trade represents a 1.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 56,557 shares of company stock valued at $10,009,789. Corporate insiders own 1.57% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. KeyCorp restated an "overweight" rating on shares of AppFolio in a research report on Monday, July 6th. Piper Sandler cut their price objective on shares of AppFolio from $245.00 to $210.00 and set an "overweight" rating for the company in a research report on Friday, April 24th. DA Davidson set a $225.00 target price on AppFolio in a research note on Friday, July 24th. Weiss Ratings downgraded shares of AppFolio from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, June 11th. Finally, Guggenheim assumed coverage on AppFolio in a research note on Wednesday, July 22nd. They set a "buy" rating and a $232.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $243.50.

AppFolio Profile

AppFolio, Inc is a Santa Barbara–based provider of cloud-based software solutions for the property management and legal industries. Founded in 2006 by former software executives, the company went public on the NASDAQ under the symbol APPF in 2015. Its original offering, AppFolio Property Manager, automates accounting, marketing, leasing, and maintenance functions for residential, commercial, student housing, and community association managers.

In 2019, AppFolio expanded its portfolio with the acquisition of MyCase, a web-based legal practice management platform for small to mid-size law firms.

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