Invesco Ltd. Boosts Holdings in AppFolio, Inc. $APPF

Key Points

• Invesco Ltd. increased its stake in AppFolio, Inc. by 1.9% during the first quarter, owning 347,125 shares valued at approximately $76.3 million.
• Several institutional investors have significantly boosted their positions in AppFolio, with changes including a 4,975.0% increase by Versant Capital Management.
• Equities analysts have raised their target prices for AppFolio, with Piper Sandler setting a new price target of $350.00, suggesting a positive outlook for the stock.

Invesco Ltd. lifted its stake in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 1.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 347,125 shares of the software maker's stock after acquiring an additional 6,528 shares during the period. Invesco Ltd. owned 0.96% of AppFolio worth $76,333,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC purchased a new position in AppFolio in the 4th quarter valued at about $103,503,000. Principal Financial Group Inc. grew 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 buying an additional 220,239 shares in the last quarter. AQR Capital Management LLC raised its position in shares of AppFolio by 43.2% in the fourth quarter. AQR Capital Management LLC now owns 655,625 shares of the software maker's stock valued at $161,756,000 after buying an additional 197,700 shares during the last quarter. Fiera Capital Corp acquired a new position in shares of AppFolio in the first quarter valued at approximately $35,896,000. Finally, Brown Advisory Inc. purchased a new position in shares of AppFolio during the first quarter valued at approximately $27,800,000. Hedge funds and other institutional investors own 85.19% of the company's stock.

Analyst Upgrades and Downgrades

APPF has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised shares of AppFolio from an "underperform" rating to a "market perform" rating and lifted their target price for the stock from $205.00 to $267.00 in a research note on Thursday, July 31st. DA Davidson restated a "buy" rating and set a $350.00 price objective on shares of AppFolio in a report on Friday, August 1st. Finally, 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. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, AppFolio currently has a consensus rating of "Moderate Buy" and an average target price of $303.00.

AppFolio Stock Down 0.1%

Shares of NASDAQ APPF traded down $0.21 during midday trading on Thursday, hitting $267.25. The stock had a trading volume of 15,231 shares, compared to its average volume of 316,302. AppFolio, Inc. has a 1-year low of $189.01 and a 1-year high of $326.04. The company has a market capitalization of $9.58 billion, a price-to-earnings ratio of 48.24 and a beta of 0.95. The company has a fifty day moving average price of $253.66 and a 200 day moving average price of $229.60.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its earnings results on Thursday, July 31st. The software maker reported $1.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.27 by $0.11. The firm had revenue of $235.58 million during 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 company's revenue was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.12 EPS. AppFolio has set its FY 2025 guidance at EPS. On average, research analysts forecast that AppFolio, Inc. will post 3.96 EPS for the current year.

Insider Buying and Selling at AppFolio

In other AppFolio news, insider Elizabeth Erin Barat sold 4,682 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $227.79, for a total value of $1,066,512.78. Following the transaction, the insider directly owned 17,926 shares of the company's stock, valued at $4,083,363.54. This trade represents a 20.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Maurice J. Duca sold 3,100 shares of the business's stock in a transaction dated Monday, August 4th. The stock was 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 approximately $13,626,512. This represents a 6.81% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have acquired 18,500 shares of company stock worth $4,024,220 and have sold 41,018 shares worth $11,774,602. Insiders own 4.68% of the company's stock.

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.