Edgestream Partners L.P. Purchases 33,331 Shares of AppFolio, Inc. $APPF

Key Points

• Edgestream Partners increased its AppFolio position by 90.6%, purchasing 33,331 shares to hold 70,110 shares valued at approximately $11.1 million. Institutional investors collectively own 85.19% of the company.
• AppFolio exceeded quarterly expectations, reporting $1.71 in EPS and $281.12 million in revenue; revenue rose 19.3% year over year. Analysts maintain a consensus “Buy” rating with an average price target of $243.50.
• APPF traded at $186.99, below its 52-week high of $326.04. Company insiders have sold shares recently under pre-arranged Rule 10b5-1 plans, including 43,357 shares worth $7.6 million over the past 90 days.

Edgestream Partners L.P. boosted its position in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 90.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 70,110 shares of the software maker's stock after purchasing an additional 33,331 shares during the period. AppFolio makes up approximately 0.4% of Edgestream Partners L.P.'s investment portfolio, making the stock its 29th biggest holding. Edgestream Partners L.P. owned approximately 0.20% of AppFolio worth $11,065,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. South Dakota Investment Council grew its stake in shares of AppFolio by 37.0% during the first quarter. South Dakota Investment Council now owns 6,660 shares of the software maker's stock valued at $1,051,000 after buying an additional 1,800 shares during the last quarter. Amundi lifted its stake in shares of AppFolio by 140.0% during the 1st quarter. Amundi now owns 3,859 shares of the software maker's stock worth $609,000 after acquiring an additional 2,251 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of AppFolio by 24.8% during the 1st quarter. California State Teachers Retirement System now owns 25,766 shares of the software maker's stock worth $4,066,000 after acquiring an additional 5,115 shares during the last quarter. Royal Bank of Canada boosted its holdings in AppFolio by 19.6% during the 1st quarter. Royal Bank of Canada now owns 52,466 shares of the software maker's stock valued at $8,280,000 after acquiring an additional 8,582 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in AppFolio by 1.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 16,939 shares of the software maker's stock valued at $2,673,000 after acquiring an additional 252 shares during the period. Hedge funds and other institutional investors own 85.19% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on APPF shares. Weiss Ratings downgraded AppFolio from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, June 11th. Piper Sandler dropped their target price on shares of AppFolio from $245.00 to $210.00 and set an "overweight" rating on the stock in a research note on Friday, April 24th. Guggenheim initiated coverage on shares of AppFolio in a research report on Wednesday, July 22nd. They set a "buy" rating and a $232.00 target price on the stock. Benchmark lifted their price target on shares of AppFolio from $222.00 to $226.00 and gave the company a "buy" rating in a research note on Friday, April 24th. Finally, UBS Group set a $210.00 price target on AppFolio in a report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $243.50.

AppFolio Price Performance

APPF stock opened at $186.99 on Thursday. AppFolio, Inc. has a 1-year low of $142.56 and a 1-year high of $326.04. The business has a 50-day moving average price of $165.82 and a 200 day moving average price of $172.41. The company has a market capitalization of $6.61 billion, a P/E ratio of 42.69 and a beta of 0.79.

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

Insider Buying and Selling at AppFolio

In related news, CFO Timothy Mathias Eaton sold 2,585 shares of the business's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $160.07, for a total value of $413,780.95. Following the completion of the transaction, the chief financial officer owned 18,036 shares of the company's stock, valued at $2,887,022.52. The trade was a 12.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Shane Trigg sold 3,584 shares of the company's stock in a transaction on Friday, May 15th. The stock was sold at an average price of $152.50, for a total value of $546,560.00. Following the sale, the chief executive officer owned 76,547 shares of the company's stock, valued at approximately $11,673,417.50. This represents a 4.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 43,357 shares of company stock valued at $7,614,340 in the last ninety days. Company insiders own 1.57% of the company's stock.

More AppFolio News

Here are the key news stories impacting AppFolio this week:

• Positive Sentiment: Zacks upgraded AppFolio to Rank #1 (Strong Buy), citing growing optimism around the company’s earnings prospects. The upgrade may be supporting renewed buying interest. AppFolio upgraded to Strong Buy
• Positive Sentiment: Zacks also characterized APPF as a solid growth stock, pointing to growth attributes that could support attractive long-term returns. AppFolio’s latest quarterly results showed revenue growth of 19.3% year over year, with earnings and revenue modestly exceeding consensus estimates. AppFolio growth stock analysis
• Positive Sentiment: Wall Street’s average price target implies approximately 25.5% potential upside from recent levels. While price targets are not guarantees, analysts’ positive earnings-estimate revisions provide an additional bullish signal. AppFolio analyst price target
• Positive Sentiment: APPF recently moved above its 20-day moving average, suggesting improving short-term momentum and helping reinforce the bullish trading narrative. AppFolio technical breakout
• Neutral Sentiment: Analyst coverage remains broadly favorable, with a consensus “Buy” rating and several targets above the current market level. However, one research firm recently downgraded the stock to “Hold,” while Piper Sandler lowered its target, highlighting valuation and execution risks.
• Negative Sentiment: Major shareholder Maurice Duca disclosed sales totaling 12,500 shares for roughly $2.27 million across July 17 and July 20. The transactions were made under a pre-arranged Rule 10b5-1 plan, which reduces their significance as a discretionary bearish signal, but insider selling can still weigh modestly on sentiment. AppFolio major shareholder share sales

AppFolio Company 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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