Neuberger Berman Group LLC Raises Stock Holdings in AppFolio, Inc. $APPF

Key Points

• Neuberger Berman Group LLC increased its holdings in AppFolio, Inc. by 923.6% during the first quarter, now owning 11,526 shares worth approximately $2.54 million.
• AppFolio's stock has shown a 19.4% increase in revenue year-over-year, with the latest quarterly earnings report indicating $1.38 EPS, beating analysts' estimates of $1.27.
• Equities analysts have recently rated AppFolio with a consensus rating of "Moderate Buy" and an average price target of $303.00, indicating positive growth expectations.

Neuberger Berman Group LLC increased its stake in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 923.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 11,526 shares of the software maker's stock after purchasing an additional 10,400 shares during the quarter. Neuberger Berman Group LLC's holdings in AppFolio were worth $2,535,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Colonial Trust Co SC bought a new position in shares of AppFolio during the 4th quarter valued at approximately $28,000. Fifth Third Bancorp increased its position in shares of AppFolio by 53.0% during the 1st quarter. Fifth Third Bancorp now owns 179 shares of the software maker's stock valued at $39,000 after purchasing an additional 62 shares during the last quarter. Versant Capital Management Inc increased its position in shares of AppFolio by 4,975.0% during the 1st quarter. Versant Capital Management Inc now owns 203 shares of the software maker's stock valued at $45,000 after purchasing an additional 199 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of AppFolio during the 1st quarter valued at approximately $55,000. Finally, Blue Trust Inc. increased its position in shares of AppFolio by 330.2% during the 1st quarter. Blue Trust Inc. now owns 271 shares of the software maker's stock valued at $60,000 after purchasing an additional 208 shares during the last quarter. Institutional investors own 85.19% of the company's stock.

Insider Buying and Selling at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 3,012 shares of the company's stock in a transaction on Friday, August 15th. The stock was 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. This represents a 4.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Maurice J. Duca sold 2,324 shares of the company's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $276.80, for a total value of $643,283.20. Following the completion of the sale, the insider owned 35,376 shares of the company's stock, valued at $9,792,076.80. This represents a 6.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 18,500 shares of company stock valued at $4,024,220 and sold 41,018 shares valued at $11,774,602. 4.68% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on APPF. Piper Sandler raised AppFolio from a "neutral" rating to an "overweight" rating and upped 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 price objective on shares of AppFolio in a research report on Friday, August 1st. Finally, Keefe, Bruyette & Woods raised AppFolio from an "underperform" rating to a "market perform" rating and upped their price objective for the company from $205.00 to $267.00 in a research report on Thursday, July 31st. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $303.00.

AppFolio Price Performance

Shares of APPF stock traded down $2.47 during mid-day trading on Wednesday, hitting $267.46. The stock had a trading volume of 235,202 shares, compared to its average volume of 430,515. AppFolio, Inc. has a 12-month low of $189.01 and a 12-month high of $326.04. The firm has a market capitalization of $9.59 billion, a P/E ratio of 48.28 and a beta of 0.95. The firm's 50-day moving average is $253.66 and its two-hundred day moving average is $229.60.

AppFolio (NASDAQ:APPF - Get Free Report) last issued its earnings results on Thursday, July 31st. The software maker reported $1.38 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $230.10 million. During the same period in the prior year, the business earned $1.12 EPS. The business's revenue for the quarter was up 19.4% compared to the same quarter last year. AppFolio has set its FY 2025 guidance at EPS. Analysts expect that AppFolio, Inc. will post 3.96 EPS for the current year.

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.