Ieq Capital LLC Has $2.73 Million Stock Holdings in AppFolio, Inc. $APPF

Key Points

• Ieq Capital LLC has reduced its stake in AppFolio, Inc. by 67.2%, now holding 12,435 shares valued at approximately $2.73 million.
• Several institutional investors have recently made significant changes to their positions in AppFolio, with Blue Trust Inc. increasing its stake by 330.2% during the first quarter.
• Analysts have a consensus rating of "Moderate Buy" for AppFolio, with a target price averaging $303.00, following recent upgrades including a price increase from $205.00 to $267.00 by Keefe, Bruyette & Woods.

Ieq Capital LLC lessened its holdings in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 67.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,435 shares of the software maker's stock after selling 25,525 shares during the period. Ieq Capital LLC's holdings in AppFolio were worth $2,734,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of AppFolio by 84.4% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 773,579 shares of the software maker's stock worth $170,110,000 after purchasing an additional 354,061 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of AppFolio by 121.2% during the first quarter. Principal Financial Group Inc. now owns 401,888 shares of the software maker's stock worth $88,375,000 after purchasing an additional 220,239 shares during the period. Nellore Capital Management LLC boosted its holdings in shares of AppFolio by 18.6% during the fourth quarter. Nellore Capital Management LLC now owns 371,934 shares of the software maker's stock worth $91,764,000 after purchasing an additional 58,315 shares during the period. Invesco Ltd. boosted its position in AppFolio by 1.9% during the first quarter. Invesco Ltd. now owns 347,125 shares of the software maker's stock valued at $76,333,000 after purchasing an additional 6,528 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in AppFolio by 23.3% during the first quarter. New York State Common Retirement Fund now owns 225,472 shares of the software maker's stock valued at $49,581,000 after purchasing an additional 42,631 shares during the last quarter. 85.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AppFolio

In other news, CEO William Shane Trigg sold 3,012 shares of the business'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 sale, the chief executive officer directly owned 63,556 shares in the company, valued at approximately $16,841,068.88. The trade was a 4.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Timothy Mathias Eaton sold 667 shares of the business's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $276.58, for a total transaction of $184,478.86. Following the completion of the sale, the chief financial officer owned 11,142 shares of the company's stock, valued at $3,081,654.36. The trade was a 5.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 53,985 shares of company stock worth $15,348,953. 4.68% of the stock is owned by insiders.

AppFolio Stock Up 0.3%

Shares of NASDAQ:APPF traded up $0.95 on Thursday, reaching $277.24. The company had a trading volume of 118,654 shares, compared to its average volume of 313,486. AppFolio, Inc. has a twelve month low of $189.01 and a twelve month high of $326.04. The stock has a 50-day moving average price of $263.41 and a 200 day moving average price of $233.13. The stock has a market capitalization of $9.94 billion, a P/E ratio of 50.06 and a beta of 0.89.

AppFolio (NASDAQ:APPF - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The software maker reported $1.38 earnings per share for the quarter, topping 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 company had revenue of $235.58 million during the quarter, compared to analysts' expectations of $230.10 million. During the same quarter in the previous year, the firm earned $1.12 earnings per share. The business's quarterly revenue was up 19.4% compared to the same quarter last year. AppFolio has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.