LPL Financial LLC Purchases 5,832 Shares of AppFolio, Inc. $APPF

Key Points

• LPL Financial LLC increased its stake in AppFolio, Inc. by 131.1%, acquiring an additional 5,832 shares, bringing its total holdings to 10,279 shares valued at approximately $2.23 million.
• Several institutional investors have also raised their positions in AppFolio, notably Barclays PLC, which expanded its holdings by 82.9%, now owning 18,084 shares valued at $4.46 million.
• AppFolio's recent earnings report showed an EPS of $1.38, exceeding analyst expectations, with a revenue of $235.58 million, representing a 19.4% increase year-over-year.

LPL Financial LLC lifted its position in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 131.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,279 shares of the software maker's stock after acquiring an additional 5,832 shares during the quarter. LPL Financial LLC's holdings in AppFolio were worth $2,231,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in APPF. Barclays PLC grew its position in AppFolio by 82.9% during the fourth quarter. Barclays PLC now owns 18,084 shares of the software maker's stock valued at $4,463,000 after buying an additional 8,196 shares during the period. Mariner LLC boosted its position in AppFolio by 9.0% during the fourth quarter. Mariner LLC now owns 2,107 shares of the software maker's stock worth $520,000 after purchasing an additional 174 shares during the period. Dimensional Fund Advisors LP boosted its position in AppFolio by 45.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 189,405 shares of the software maker's stock worth $46,731,000 after purchasing an additional 59,279 shares during the period. Natixis bought a new position in AppFolio during the fourth quarter worth about $572,000. Finally, MetLife Investment Management LLC boosted its position in AppFolio by 8.4% during the fourth quarter. MetLife Investment Management LLC now owns 14,001 shares of the software maker's stock worth $3,454,000 after purchasing an additional 1,084 shares during the period. Institutional investors own 85.19% of the company's stock.

AppFolio Price Performance

Shares of NASDAQ:APPF opened at $269.93 on Wednesday. The company's fifty day moving average price is $252.87 and its 200-day moving average price is $229.33. The firm has a market capitalization of $9.68 billion, a price-to-earnings ratio of 48.72 and a beta of 0.95. AppFolio, Inc. has a one year low of $189.01 and a one year high of $326.04.

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

Analyst Ratings Changes

A number of equities analysts have weighed in on APPF shares. Piper Sandler upgraded shares of AppFolio from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $240.00 to $350.00 in a research report on Friday, August 1st. DA Davidson reiterated a "buy" rating and set a $350.00 target price on shares of AppFolio in a research report on Friday, August 1st. Finally, Keefe, Bruyette & Woods raised shares of AppFolio from an "underperform" rating to a "market perform" rating and increased their price target for the stock from $205.00 to $267.00 in a report on Thursday, July 31st. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $303.00.

Insider Buying and Selling at AppFolio

In other news, insider Elizabeth Erin Barat sold 4,682 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $227.79, for a total value of $1,066,512.78. Following the sale, the insider directly owned 17,926 shares of the company's stock, valued at $4,083,363.54. This represents a 20.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Maurice J. Duca sold 3,100 shares of the company's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $321.38, for a total transaction of $996,278.00. Following the completion of the sale, the insider directly owned 42,400 shares in the company, valued at $13,626,512. This represents a 6.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders bought 18,500 shares of company stock worth $4,024,220 and sold 41,018 shares worth $11,774,602. 4.68% of the stock is owned by company insiders.

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.

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