Oberndorf William E Purchases 20,245 Shares of AppFolio, Inc. $APPF

Key Points

• Oberndorf William E increased its stake in AppFolio, Inc. by 514.0%, acquiring an additional 20,245 shares, bringing their total holdings to 24,184 shares valued at approximately $5.32 million.
• Major shareholder Maurice J. Duca sold 3,100 shares for around $996,278, resulting in a 6.81% decrease in ownership, while Director Timothy K. Bliss purchased 7,500 shares valued at about $1.63 million.
• Analysts maintain a consensus rating of "Moderate Buy" for AppFolio shares, with a price target averaging $303.00.

Oberndorf William E increased its position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 514.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,184 shares of the software maker's stock after acquiring an additional 20,245 shares during the quarter. AppFolio accounts for about 6.8% of Oberndorf William E's holdings, making the stock its 7th largest position. Oberndorf William E owned approximately 0.07% of AppFolio worth $5,318,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Colonial Trust Co SC acquired a new stake in shares of AppFolio during the fourth quarter valued at approximately $28,000. Fifth Third Bancorp grew its position in AppFolio by 53.0% during the first quarter. Fifth Third Bancorp now owns 179 shares of the software maker's stock valued at $39,000 after purchasing an additional 62 shares in the last quarter. Versant Capital Management Inc grew its position in AppFolio by 4,975.0% during the first 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 in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in AppFolio during the first quarter valued at approximately $55,000. Finally, Blue Trust Inc. grew its position in AppFolio by 330.2% during the first quarter. Blue Trust Inc. now owns 271 shares of the software maker's stock valued at $60,000 after purchasing an additional 208 shares in the last quarter. Institutional investors and hedge funds own 85.19% of the company's stock.

Insider Buying and Selling

In other news, major shareholder Maurice J. Duca sold 3,100 shares of AppFolio stock in a transaction that occurred on Monday, August 4th. The shares were 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 of the company's stock, valued at $13,626,512. This trade represents a 6.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Timothy K. Bliss purchased 7,500 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was purchased at an average cost of $217.02 per share, for a total transaction of $1,627,650.00. Following the transaction, the director owned 7,500 shares of the company's stock, valued at approximately $1,627,650. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 18,500 shares of company stock valued at $4,024,220 and have sold 38,006 shares valued at $10,976,482. 4.68% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on APPF shares. DA Davidson reaffirmed a "buy" rating and set a $350.00 price objective on shares of AppFolio in a research report on Friday, August 1st. Keefe, Bruyette & Woods raised shares of AppFolio from an "underperform" rating to a "market perform" rating and boosted their price objective for the company from $205.00 to $267.00 in a research report on Thursday, July 31st. Finally, Piper Sandler raised shares of AppFolio from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $240.00 to $350.00 in a research report on Friday, August 1st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $303.00.

AppFolio Stock Performance

Shares of APPF opened at $269.10 on Tuesday. The firm has a market cap of $9.65 billion, a PE ratio of 48.57 and a beta of 0.95. The firm's 50 day moving average price is $252.04 and its 200 day moving average price is $229.05. AppFolio, Inc. has a twelve month low of $189.01 and a twelve month high of $326.04.

AppFolio (NASDAQ:APPF - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The software maker reported $1.38 earnings per share for the quarter, beating 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 analyst estimates of $230.10 million. During the same quarter last year, the firm earned $1.12 earnings per share. The company's revenue for the quarter was up 19.4% on a year-over-year basis. On average, sell-side analysts anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

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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