HighTower Advisors LLC Has $634,000 Stock Position in AppFolio, Inc. $APPF

Key Points

• HighTower Advisors LLC increased its holdings in AppFolio, Inc. by 94.1% during the 1st quarter, now owning 2,882 shares valued at approximately $634,000.
• Analyst ratings for AppFolio remain positive, with a consensus rating of "Moderate Buy" and a price target averaging $303.00.
• Insider trading activity includes Director Timothy K. Bliss purchasing 7,500 shares for about $1.63 million while CEO William Shane Trigg sold 3,012 shares valued at approximately $798,119.

HighTower Advisors LLC boosted its stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 94.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,882 shares of the software maker's stock after acquiring an additional 1,397 shares during the period. HighTower Advisors LLC's holdings in AppFolio were worth $634,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of APPF. Colonial Trust Co SC bought a new position in AppFolio in the 4th quarter valued at about $28,000. Fifth Third Bancorp boosted its holdings in shares of AppFolio by 53.0% in the first quarter. Fifth Third Bancorp now owns 179 shares of the software maker's stock worth $39,000 after buying an additional 62 shares during the period. Versant Capital Management Inc boosted its holdings in shares of AppFolio by 4,975.0% in the first quarter. Versant Capital Management Inc now owns 203 shares of the software maker's stock worth $45,000 after buying an additional 199 shares during the period. Blue Trust Inc. boosted its holdings 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 buying an additional 208 shares during the period. Finally, UMB Bank n.a. lifted its position in shares of AppFolio by 73.1% in the first quarter. UMB Bank n.a. now owns 289 shares of the software maker's stock worth $64,000 after purchasing an additional 122 shares in the last quarter. 85.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. DA Davidson reissued a "buy" rating and issued a $350.00 price target on shares of AppFolio in a research report on Friday, August 1st. Keefe, Bruyette & Woods raised their price objective on shares of AppFolio from $295.00 to $311.00 and gave the stock a "market perform" rating in a research note on Wednesday. Finally, Piper Sandler upgraded shares of AppFolio from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $240.00 to $350.00 in a research note on Friday, August 1st. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $311.80.

Insider Activity at AppFolio

In other AppFolio news, major shareholder Maurice J. Duca sold 1,200 shares of the company's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $275.71, for a total value of $330,852.00. Following the transaction, the insider directly owned 39,000 shares of the company's stock, valued at $10,752,690. This represents a 2.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO William Shane Trigg sold 3,012 shares of the company's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $264.98, for a total value of $798,119.76. Following the completion of the transaction, the chief executive officer directly owned 63,556 shares in the company, valued at approximately $16,841,068.88. This represents a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 18,500 shares of company stock worth $4,024,220 and have sold 53,985 shares worth $15,348,953. 4.68% of the stock is owned by company insiders.

AppFolio Trading Up 0.5%

Shares of AppFolio stock traded up $1.44 on Wednesday, reaching $274.98. 75,724 shares of the company were exchanged, compared to its average volume of 313,607. AppFolio, Inc. has a one year low of $189.01 and a one year high of $326.04. The company has a 50-day moving average of $262.50 and a 200 day moving average of $232.84. The company has a market capitalization of $9.86 billion, a price-to-earnings ratio of 49.46 and a beta of 0.89.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its quarterly earnings results 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. AppFolio had a return on equity of 26.32% and a net margin of 23.54%.The business had revenue of $235.58 million for the quarter, compared to analysts' expectations of $230.10 million. During the same quarter in the prior year, the business earned $1.12 EPS. The firm's revenue for the quarter was up 19.4% on a year-over-year basis. AppFolio has set its FY 2025 guidance at EPS. Analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current year.

AppFolio Company 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.