Envestnet Portfolio Solutions Inc. Has $1.30 Million Stake in AppFolio, Inc. $APPF

Key Points

• Envestnet Portfolio Solutions Inc. significantly increased its stake in AppFolio, Inc. by 195.3% during Q2, holding 5,634 shares valued at approximately $1.30 million as of the end of the quarter.
• Research analysts have expressed optimism about AppFolio, with several firms raising their target prices, including a notable increase from $295.00 to $311.00 by Keefe, Bruyette & Woods and a buy rating from DA Davidson with a target of $350.00.
• CEO William Shane Trigg sold 4,000 shares at an average price of $276.95, totaling around $1.11 million, indicating a 6.29% decrease in his ownership of the company.

Envestnet Portfolio Solutions Inc. increased its position in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 195.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,634 shares of the software maker's stock after acquiring an additional 3,726 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in AppFolio were worth $1,297,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Fifth Third Bancorp raised its holdings in AppFolio by 53.0% in the 1st quarter. Fifth Third Bancorp now owns 179 shares of the software maker's stock worth $39,000 after acquiring an additional 62 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in AppFolio in the 1st quarter worth $55,000. Blue Trust Inc. raised its holdings in AppFolio by 330.2% in the 1st quarter. Blue Trust Inc. now owns 271 shares of the software maker's stock worth $60,000 after acquiring an additional 208 shares during the period. GAMMA Investing LLC raised its holdings in AppFolio by 110.1% in the 1st quarter. GAMMA Investing LLC now owns 353 shares of the software maker's stock worth $78,000 after acquiring an additional 185 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in AppFolio by 23.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 384 shares of the software maker's stock worth $84,000 after acquiring an additional 73 shares during the period. Institutional investors own 85.19% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Keefe, Bruyette & Woods lifted 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. DA Davidson restated a "buy" rating and set a $350.00 price objective on shares of AppFolio in a report on Friday, August 1st. Weiss Ratings restated a "buy (b-)" rating on shares of AppFolio in a report on Wednesday, October 8th. KeyCorp upgraded shares of AppFolio from a "sector weight" rating to an "overweight" rating and set a $285.00 price objective on the stock in a report on Friday. Finally, Piper Sandler upgraded shares of AppFolio from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $240.00 to $350.00 in a report on Friday, August 1st. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, AppFolio currently has an average rating of "Moderate Buy" and a consensus price target of $318.20.

Insider Buying and Selling at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 4,000 shares of the business's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $276.95, for a total value of $1,107,800.00. Following the transaction, the chief executive officer directly owned 59,556 shares in the company, valued at $16,494,034.20. The trade was a 6.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Maurice J. Duca sold 3,100 shares of the business's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $321.38, for a total transaction of $996,278.00. Following the completion of the transaction, the insider owned 42,400 shares in the company, valued at approximately $13,626,512. This trade represents a 6.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 58,803 shares of company stock worth $16,938,949 over the last ninety days. Corporate insiders own 4.68% of the company's stock.

AppFolio Stock Up 5.5%

NASDAQ APPF opened at $235.51 on Friday. The stock has a market cap of $8.44 billion, a P/E ratio of 42.51 and a beta of 0.83. The company's 50-day simple moving average is $266.00 and its 200 day simple moving average is $243.23. AppFolio, Inc. has a twelve month low of $189.01 and a twelve month high of $326.04.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its earnings results on Thursday, July 31st. The software maker reported $1.38 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $0.11. The business had revenue of $235.58 million for 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%. The firm's revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.12 earnings per share. AppFolio has set its FY 2025 guidance at EPS. Research analysts anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current year.

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.

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