Gallacher Capital Management LLC Reduces Position in AppFolio, Inc. $APPF

Key Points

• Gallacher Capital Management LLC reduced its stake in AppFolio, Inc. by 48.7% during the second quarter, leaving it with 1,109 shares valued at approximately $255,000.
• Several institutional investors, including Fifth Third Bancorp and Blue Trust Inc., increased their holdings in AppFolio significantly, with Fifth Third Bancorp raising its stake by 53.0%.
• AppFolio reported earnings of $1.38 per share for the last quarter, exceeding estimates and marking a 19.4% year-over-year revenue growth of $235.58 million.

Gallacher Capital Management LLC trimmed its position in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 48.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,109 shares of the software maker's stock after selling 1,051 shares during the quarter. Gallacher Capital Management LLC's holdings in AppFolio were worth $255,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in APPF. Fifth Third Bancorp grew 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 last quarter. Versant Capital Management Inc boosted its holdings in shares of AppFolio by 4,975.0% during the first quarter. Versant Capital Management Inc now owns 203 shares of the software maker's stock worth $45,000 after purchasing an additional 199 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of AppFolio in the first quarter worth about $55,000. Blue Trust Inc. grew its stake in shares of AppFolio by 330.2% in the first quarter. Blue Trust Inc. now owns 271 shares of the software maker's stock worth $60,000 after purchasing an additional 208 shares during the last quarter. Finally, UMB Bank n.a. increased its holdings in AppFolio by 73.1% during the 1st quarter. UMB Bank n.a. now owns 289 shares of the software maker's stock valued at $64,000 after purchasing an additional 122 shares during the period. 85.19% of the stock is currently owned by institutional investors.

AppFolio Stock Performance

Shares of NASDAQ:APPF opened at $280.22 on Tuesday. The firm has a market capitalization of $10.05 billion, a P/E ratio of 50.58 and a beta of 0.89. The stock has a 50 day moving average price of $271.08 and a 200-day moving average price of $237.14. AppFolio, Inc. has a 52-week low of $189.01 and a 52-week high of $326.04.

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. The company had revenue of $235.58 million for the quarter, compared to analyst estimates of $230.10 million. AppFolio had a return on equity of 26.32% and a net margin of 23.54%.The firm's revenue was up 19.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.12 earnings per share. AppFolio has set its FY 2025 guidance at EPS. On average, equities analysts forecast that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on APPF. Keefe, Bruyette & Woods increased their price objective on AppFolio from $295.00 to $311.00 and gave the stock a "market perform" rating in a report on Wednesday, September 3rd. Piper Sandler upgraded AppFolio from a "neutral" rating to an "overweight" rating and upped their target price for the company from $240.00 to $350.00 in a report on Friday, August 1st. Finally, DA Davidson reiterated a "buy" rating and issued a $350.00 price target on shares of AppFolio in a report on Friday, August 1st. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, AppFolio presently has an average rating of "Moderate Buy" and a consensus target price of $311.80.

Insider Buying and Selling

In related news, major shareholder Maurice J. Duca sold 3,100 shares of AppFolio 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 directly owned 42,400 shares of the company's stock, valued at $13,626,512. This trade represents a 6.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Klaus Schauser sold 3,000 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $295.14, for a total transaction of $885,420.00. Following the sale, the insider directly owned 300,000 shares in the company, valued at $88,542,000. The trade was a 0.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,803 shares of company stock worth $16,938,949 in the last three months. 4.68% of the stock is 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.

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