EFG Asset Management North America Corp. Boosts Stake in AppFolio, Inc. $APPF

Key Points

• EFG Asset Management North America Corp. increased its stake in AppFolio, Inc. by 25.9%, owning a total of 13,612 shares worth approximately $2.99 million after acquiring an additional 2,796 shares in Q1.
• Several analysts have upgraded their ratings on AppFolio, with Piper Sandler raising its price target from $240.00 to $350.00 and categorizing it as "overweight."
• AppFolio reported a quarterly EPS of $1.38, surpassing estimates by $0.11, and its revenue increased by 19.4% year-over-year to $235.58 million.

EFG Asset Management North America Corp. grew its position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 25.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,612 shares of the software maker's stock after buying an additional 2,796 shares during the period. EFG Asset Management North America Corp.'s holdings in AppFolio were worth $2,994,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in APPF. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of AppFolio during the 4th quarter valued at $103,503,000. Principal Financial Group Inc. increased its stake in AppFolio by 121.2% in the 1st quarter. Principal Financial Group Inc. now owns 401,888 shares of the software maker's stock worth $88,375,000 after acquiring an additional 220,239 shares during the last quarter. Fiera Capital Corp bought a new position in AppFolio in the 1st quarter worth about $35,896,000. Brown Advisory Inc. bought a new position in AppFolio in the 1st quarter worth about $27,800,000. Finally, Nuveen LLC bought a new position in shares of AppFolio during the 1st quarter valued at about $27,464,000. 85.19% of the stock is currently owned by institutional investors.

AppFolio Stock Performance

Shares of NASDAQ APPF traded up $5.57 during mid-day trading on Friday, hitting $284.81. 177,568 shares of the stock traded hands, compared to its average volume of 282,473. AppFolio, Inc. has a 52 week low of $189.01 and a 52 week high of $326.04. The company has a market cap of $10.21 billion, a price-to-earnings ratio of 51.41 and a beta of 0.89. The stock has a fifty day moving average price of $265.56 and a 200-day moving average price of $234.19.

AppFolio (NASDAQ:APPF - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The software maker reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.11. AppFolio had a return on equity of 26.32% and a net margin of 23.54%.The company had revenue of $235.58 million for the quarter, compared to analyst estimates of $230.10 million. During the same period in the previous year, the company posted $1.12 earnings per share. The firm's revenue was up 19.4% on a year-over-year basis. AppFolio has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

Insider Activity at AppFolio

In other AppFolio news, major shareholder Maurice J. Duca sold 1,200 shares of the business's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $275.71, for a total value of $330,852.00. Following the sale, the insider directly owned 39,000 shares of the company's stock, valued at approximately $10,752,690. The trade was a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Timothy Mathias Eaton sold 667 shares of the business's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $276.58, for a total value of $184,478.86. Following the completion of the sale, the chief financial officer directly owned 11,142 shares in the company, valued at $3,081,654.36. This trade represents a 5.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 53,985 shares of company stock worth $15,348,953 over the last ninety days. 4.68% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

AppFolio 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.