First Citizens Bank & Trust Co. Acquires 3,301 Shares of AppFolio, Inc. $APPF

Key Points

• First Citizens Bank & Trust Co. has significantly increased its stake in AppFolio, Inc. by purchasing 3,301 shares, raising its holdings by 263% and valuing them at over $1 million.
• Recent insider sales include CEO William Shane Trigg, who sold 4,000 shares for $1.1 million, and major shareholder Klaus Schauser, who sold 3,000 shares for $885,420.
• Analysts have upgraded AppFolio's stock, with several firms giving it a "buy" rating and price targets as high as $350, reflecting positive market sentiment.

First Citizens Bank & Trust Co. raised its holdings in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 263.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,556 shares of the software maker's stock after purchasing an additional 3,301 shares during the period. First Citizens Bank & Trust Co.'s holdings in AppFolio were worth $1,049,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Woodline Partners LP grew its holdings in AppFolio by 2.9% during the 1st quarter. Woodline Partners LP now owns 1,754 shares of the software maker's stock valued at $386,000 after buying an additional 50 shares in the last quarter. Somerset Trust Co boosted its position in shares of AppFolio by 6.7% in the second quarter. Somerset Trust Co now owns 1,105 shares of the software maker's stock valued at $254,000 after acquiring an additional 69 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of AppFolio by 23.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 384 shares of the software maker's stock valued at $84,000 after acquiring an additional 73 shares during the period. Deutsche Bank AG grew its stake in AppFolio by 3.3% during the first quarter. Deutsche Bank AG now owns 2,362 shares of the software maker's stock valued at $519,000 after acquiring an additional 75 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in AppFolio by 3.2% during the 1st quarter. State of Alaska Department of Revenue now owns 2,720 shares of the software maker's stock worth $598,000 after acquiring an additional 85 shares during the period. 85.19% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO William Shane Trigg sold 4,000 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 59,556 shares in the company, valued at approximately $16,494,034.20. The trade was a 6.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Klaus Schauser sold 3,000 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $295.14, for a total transaction of $885,420.00. Following the transaction, the insider directly owned 300,000 shares in the company, valued at approximately $88,542,000. This represents a 0.99% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,803 shares of company stock valued at $16,938,949. 4.68% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

APPF has been the subject of several analyst reports. DA Davidson reissued a "buy" rating and issued a $350.00 price target on shares of AppFolio in a report on Friday, August 1st. KeyCorp raised AppFolio from a "sector weight" rating to an "overweight" rating and set a $285.00 price objective for the company in a research note on Friday, October 17th. Piper Sandler upgraded AppFolio from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $240.00 to $350.00 in a research note on Friday, August 1st. Keefe, Bruyette & Woods upgraded AppFolio from a "market perform" rating to an "outperform" rating and set a $311.00 price target for the company in a research report on Friday. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of AppFolio in a report on Friday. Seven analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $318.20.

AppFolio Trading Up 1.3%

APPF opened at $242.68 on Friday. The stock has a market capitalization of $8.70 billion, a P/E ratio of 43.81 and a beta of 0.83. The stock has a 50-day moving average price of $262.96 and a 200-day moving average price of $243.88. AppFolio, Inc. has a 12-month low of $190.24 and a 12-month high of $326.04.

AppFolio (NASDAQ:APPF - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $235.58 million for the quarter, compared to analysts' expectations of $230.10 million. AppFolio had a return on equity of 26.32% and a net margin of 23.54%.AppFolio's revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period last year, the firm posted $1.12 EPS. AppFolio has set its FY 2025 guidance at EPS. On average, equities research analysts predict that AppFolio, Inc. will post 3.96 EPS for the current year.

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.

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