Federated Hermes Inc. Trims Stock Position in AppFolio, Inc. (NASDAQ:APPF)

Key Points

• Federated Hermes Inc. sold 8,355 shares of AppFolio, Inc., reducing its holdings by 41.6% during the first quarter, leaving it with 11,736 shares valued at approximately $2.58 million.
• AppFolio's stock recently traded at $312.37, marking a 12-month high of $326.04 and a low of $189.01, with analysts projecting 3.96 EPS for the current year.
• Several analysts upgraded their ratings on AppFolio, with target prices ranging from $267.00 to $350.00, signaling a potential positive outlook for the company's stock.

Federated Hermes Inc. cut its holdings in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 41.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,736 shares of the software maker's stock after selling 8,355 shares during the period. Federated Hermes Inc.'s holdings in AppFolio were worth $2,581,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in APPF. Colonial Trust Co SC acquired a new position in AppFolio during the 4th quarter worth approximately $28,000. Fifth Third Bancorp raised its stake in AppFolio by 53.0% in the first quarter. Fifth Third Bancorp now owns 179 shares of the software maker's stock valued at $39,000 after buying an additional 62 shares in the last quarter. Versant Capital Management Inc lifted its holdings 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 buying an additional 199 shares during the last quarter. Aster Capital Management DIFC Ltd boosted its position in shares of AppFolio by 10,300.0% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 208 shares of the software maker's stock worth $51,000 after acquiring an additional 206 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of AppFolio by 330.2% in the 1st quarter. Blue Trust Inc. now owns 271 shares of the software maker's stock valued at $60,000 after acquiring an additional 208 shares during the last quarter. Hedge funds and other institutional investors own 85.19% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Keefe, Bruyette & Woods raised shares of AppFolio from an "underperform" rating to a "market perform" rating and raised their price objective for the stock from $205.00 to $267.00 in a report on Thursday, July 31st. DA Davidson reaffirmed a "buy" rating and issued a $350.00 target price on shares of AppFolio in a research report on Friday, August 1st. Finally, Piper Sandler upgraded shares of AppFolio from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $240.00 to $350.00 in a research note on Friday, August 1st. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $303.00.

AppFolio Stock Performance

APPF traded down $12.00 during trading on Thursday, reaching $300.37. The company's stock had a trading volume of 605,722 shares, compared to its average volume of 361,477. The company's fifty day moving average price is $242.24 and its 200-day moving average price is $228.14. AppFolio, Inc. has a 52-week low of $189.01 and a 52-week high of $326.04. The company has a market capitalization of $10.82 billion, a price-to-earnings ratio of 93.81 and a beta of 0.95.

AppFolio (NASDAQ:APPF - Get Free Report) last released its earnings results on Thursday, July 31st. The software maker reported $1.38 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $230.10 million. During the same quarter last year, the company earned $1.12 earnings per share. AppFolio's quarterly revenue was up 19.4% compared to the same quarter last year. Equities analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Timothy K. Bliss purchased 7,500 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were acquired at an average price of $217.02 per share, for a total transaction of $1,627,650.00. Following the acquisition, the director directly owned 7,500 shares in the company, valued at approximately $1,627,650. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William Shane Trigg sold 5,900 shares of the business's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $211.45, for a total value of $1,247,555.00. Following the sale, the chief executive officer owned 70,647 shares in the company, valued at approximately $14,938,308.15. The trade was a 7.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders bought 18,500 shares of company stock valued at $4,024,220 and sold 25,839 shares valued at $6,903,518. 4.68% of the stock is currently owned by corporate insiders.

About AppFolio

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.