Gallacher Capital Management LLC Reduces Holdings 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 reduced its position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 48.7% in the second quarter, according to its most recent filing with the SEC. The fund 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Woodline Partners LP boosted its position in shares of 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 acquiring an additional 50 shares during the last quarter. Fifth Third Bancorp raised its holdings in AppFolio by 53.0% during the 1st quarter. Fifth Third Bancorp now owns 179 shares of the software maker's stock valued at $39,000 after buying an additional 62 shares during the period. Tidal Investments LLC raised its holdings in AppFolio by 4.7% during the 4th quarter. Tidal Investments LLC now owns 1,492 shares of the software maker's stock valued at $368,000 after buying an additional 67 shares during the period. Somerset Trust Co raised its holdings in AppFolio by 6.7% during the 2nd quarter. Somerset Trust Co now owns 1,105 shares of the software maker's stock valued at $254,000 after buying an additional 69 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in AppFolio by 23.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 384 shares of the software maker's stock valued at $84,000 after buying an additional 73 shares during the period. 85.19% of the stock is currently owned by institutional investors.

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 that occurred on Wednesday, September 10th. The stock was sold at an average price of $276.95, for a total value of $1,107,800.00. Following the completion of the transaction, the chief executive officer directly owned 59,556 shares of the company's stock, valued at approximately $16,494,034.20. The trade was a 6.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Klaus Schauser sold 3,000 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $295.14, for a total value of $885,420.00. Following the completion of the transaction, the insider directly owned 300,000 shares of the company's stock, valued at $88,542,000. The trade was a 0.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,803 shares of company stock valued at $16,938,949. 4.68% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

AppFolio Trading Up 0.6%

NASDAQ APPF traded up $1.68 on Friday, hitting $281.57. 346,057 shares of the company's stock traded hands, compared to its average volume of 223,413. The firm's 50-day moving average price is $273.92 and its two-hundred day moving average price is $238.57. The firm has a market capitalization of $10.09 billion, a PE ratio of 50.83 and a beta of 0.89. AppFolio, Inc. has a 1-year low of $189.01 and a 1-year high of $326.04.

AppFolio (NASDAQ:APPF - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The software maker reported $1.38 EPS for the quarter, beating the consensus estimate of $1.27 by $0.11. The business had revenue of $235.58 million for the quarter, compared to the consensus estimate of $230.10 million. AppFolio had a net margin of 23.54% and a return on equity of 26.32%. The business's revenue for the quarter was up 19.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.12 EPS. AppFolio has set its FY 2025 guidance at EPS. On average, research analysts anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

AppFolio 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.