Nuveen LLC Invests $27.46 Million in AppFolio, Inc. $APPF

Nuveen LLC purchased a new position in AppFolio, Inc. (NASDAQ:APPF - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 124,894 shares of the software maker's stock, valued at approximately $27,464,000. Nuveen LLC owned 0.35% of AppFolio at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Barclays PLC increased its stake in AppFolio by 82.9% in the fourth quarter. Barclays PLC now owns 18,084 shares of the software maker's stock worth $4,463,000 after purchasing an additional 8,196 shares during the period. Mariner LLC increased its stake in AppFolio by 9.0% in 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. Canada Pension Plan Investment Board grew its stake in AppFolio by 24.4% in the 4th quarter. Canada Pension Plan Investment Board now owns 53,000 shares of the software maker's stock worth $13,076,000 after acquiring an additional 10,400 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of 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 acquiring an additional 59,279 shares during the period. Finally, Natixis purchased a new position in shares of AppFolio during the fourth quarter worth approximately $572,000. 85.19% of the stock is currently owned by institutional investors.

Insider Activity

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

AppFolio Stock Up 0.2%

Shares of AppFolio stock traded up $0.42 on Thursday, reaching $267.88. 65,350 shares of the stock were exchanged, compared to its average volume of 316,605. AppFolio, Inc. has a twelve month low of $189.01 and a twelve month high of $326.04. The business has a 50 day moving average price of $253.66 and a two-hundred day moving average price of $229.60. The firm has a market capitalization of $9.60 billion, a price-to-earnings ratio of 48.28 and a beta of 0.95.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on APPF. Keefe, Bruyette & Woods raised AppFolio from an "underperform" rating to a "market perform" rating and increased their price objective for the stock from $205.00 to $267.00 in a research note on Thursday, July 31st. Piper Sandler upgraded AppFolio from a "neutral" rating to an "overweight" rating and raised their price target for the company from $240.00 to $350.00 in a research note on Friday, August 1st. Finally, DA Davidson reaffirmed a "buy" rating and issued a $350.00 price objective on shares of AppFolio in a research note on Friday, August 1st. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $303.00.

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.