AppFolio, Inc. $APPF Shares Sold by Hancock Whitney Corp

Key Points

• Hancock Whitney Corp reduced its stake in AppFolio, Inc. by 54.5%, selling 2,301 shares and now owning 1,920 shares valued at approximately $422,000.
• Major shareholder Maurice J. Duca and CEO William Shane Trigg sold shares, indicating insider transactions and a decrease in their respective positions.
• The company reported a strong earnings quarter, with $1.38 EPS, surpassing estimates, and revenue growth of 19.4% year-over-year, prompting positive analyst ratings, including a "buy" from DA Davidson.

Hancock Whitney Corp trimmed its position in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 54.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,920 shares of the software maker's stock after selling 2,301 shares during the quarter. Hancock Whitney Corp's holdings in AppFolio were worth $422,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. EFG Asset Management North America Corp. increased its stake in shares of AppFolio by 25.9% in the first quarter. EFG Asset Management North America Corp. now owns 13,612 shares of the software maker's stock worth $2,994,000 after buying an additional 2,796 shares during the period. EP Wealth Advisors LLC purchased a new position in shares of AppFolio in the first quarter worth $320,000. PDT Partners LLC increased its position in AppFolio by 23.9% during the 1st quarter. PDT Partners LLC now owns 5,704 shares of the software maker's stock valued at $1,254,000 after purchasing an additional 1,100 shares during the period. Alamar Capital Management LLC purchased a new position in AppFolio during the 1st quarter valued at $2,501,000. Finally, Royal Bank of Canada increased its position in AppFolio by 22.6% during the 1st quarter. Royal Bank of Canada now owns 45,452 shares of the software maker's stock valued at $9,993,000 after purchasing an additional 8,367 shares during the period. 85.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO William Shane Trigg sold 3,012 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $264.98, for a total transaction of $798,119.76. Following the transaction, the chief executive officer owned 63,556 shares in the company, valued at $16,841,068.88. This trade represents a 4.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Maurice J. Duca sold 3,100 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $321.38, for a total value of $996,278.00. Following the transaction, the insider owned 42,400 shares in the company, valued at $13,626,512. This trade represents a 6.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,803 shares of company stock worth $14,995,040 in the last quarter. Corporate insiders own 4.68% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on APPF shares. Piper Sandler raised shares of AppFolio from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $240.00 to $350.00 in a research report on Friday, August 1st. 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, Keefe, Bruyette & Woods upped their target price on shares of AppFolio from $295.00 to $311.00 and gave the stock a "market perform" rating in a research report on Wednesday, September 3rd. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $311.80.

AppFolio Stock Performance

Shares of NASDAQ:APPF traded down $1.39 during midday trading on Friday, reaching $280.09. 64,327 shares of the company's stock traded hands, compared to its average volume of 310,280. AppFolio, Inc. has a 1 year low of $189.01 and a 1 year high of $326.04. The company has a market cap of $10.04 billion, a P/E ratio of 50.51 and a beta of 0.89. The company has a fifty day simple moving average of $269.48 and a two-hundred day simple moving average of $235.90.

AppFolio (NASDAQ:APPF - Get Free Report) last announced its earnings results on Thursday, July 31st. The software maker reported $1.38 earnings per share (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 firm had revenue of $235.58 million for the quarter, compared to analyst estimates of $230.10 million. During the same quarter last year, the firm posted $1.12 EPS. The business's revenue was up 19.4% on a year-over-year basis. AppFolio has set its FY 2025 guidance at EPS. As a group, research analysts forecast that AppFolio, Inc. will post 3.96 EPS 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.