Fifth Third Bancorp grew its holdings in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 4,356.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,600 shares of the software maker's stock after purchasing an additional 8,407 shares during the quarter. Fifth Third Bancorp's holdings in AppFolio were worth $1,357,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of AppFolio by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 2,560,460 shares of the software maker's stock worth $595,691,000 after purchasing an additional 101,466 shares during the period. Principal Financial Group Inc. increased its position in shares of AppFolio by 6.8% during the fourth quarter. Principal Financial Group Inc. now owns 1,245,949 shares of the software maker's stock valued at $289,880,000 after purchasing an additional 79,197 shares during the period. State Street Corp lifted its position in AppFolio by 1.1% in the fourth quarter. State Street Corp now owns 685,656 shares of the software maker's stock worth $159,518,000 after purchasing an additional 7,585 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in AppFolio by 17.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 669,317 shares of the software maker's stock worth $155,717,000 after buying an additional 98,230 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its stake in AppFolio by 15.6% during the fourth quarter. William Blair Investment Management LLC now owns 638,241 shares of the software maker's stock worth $148,487,000 after buying an additional 86,272 shares in the last quarter. 85.19% of the stock is currently owned by institutional investors.
AppFolio News Roundup
Here are the key news stories impacting AppFolio this week:
AppFolio Stock Up 0.7%
Shares of AppFolio stock opened at $165.05 on Friday. AppFolio, Inc. has a 12-month low of $142.56 and a 12-month high of $326.04. The stock has a market cap of $5.84 billion, a P/E ratio of 37.68 and a beta of 0.79. The business's 50 day moving average is $164.76 and its 200-day moving average is $173.91.
AppFolio (NASDAQ:APPF - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The software maker reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.02. AppFolio had a return on equity of 32.77% and a net margin of 15.13%.The firm had revenue of $281.12 million for the quarter, compared to analyst estimates of $277.35 million. During the same quarter in the prior year, the company earned $1.38 earnings per share. The business's revenue for the quarter was up 19.3% compared to the same quarter last year. On average, sell-side analysts expect that AppFolio, Inc. will post 5.04 EPS for the current year.
Insiders Place Their Bets
In other AppFolio news, major shareholder Maurice J. Duca sold 7,200 shares of the firm's stock in a transaction on Monday, July 13th. The stock was sold at an average price of $180.15, for a total value of $1,297,080.00. Following the sale, the insider owned 40,700 shares of the company's stock, valued at approximately $7,332,105. This trade represents a 15.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 business'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 transaction, the chief executive officer directly owned 76,547 shares of the company's stock, valued at $11,673,417.50. This trade 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. Over the last ninety days, insiders have sold 30,657 shares of company stock worth $5,310,740. 1.57% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
APPF has been the subject of a number of recent analyst reports. Benchmark increased their target price on shares of AppFolio from $222.00 to $226.00 and gave the stock a "buy" rating in a research report on Friday, April 24th. Wall Street Zen raised shares of AppFolio from a "hold" rating to a "buy" rating in a report on Saturday, July 18th. KeyCorp reissued an "overweight" rating on shares of AppFolio in a report on Monday, July 6th. UBS Group set a $210.00 price target on AppFolio in a research report on Friday, April 24th. Finally, Piper Sandler cut their price objective on AppFolio from $245.00 to $210.00 and set an "overweight" rating for the company in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $243.50.
View Our Latest Report on APPF
About AppFolio
(
Free Report)
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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