AppFolio, Inc. $APPF is Oberndorf William E's 7th Largest Position

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% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,184 shares of the software maker's stock after purchasing an additional 20,245 shares during the period. AppFolio makes up 6.8% of Oberndorf William E's portfolio, making the stock its 7th largest holding. Oberndorf William E owned about 0.07% of AppFolio worth $5,318,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. New York State Teachers Retirement System boosted its stake in shares of AppFolio by 80.8% during the 1st quarter. New York State Teachers Retirement System now owns 8,773 shares of the software maker's stock worth $1,929,000 after purchasing an additional 3,922 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new position in shares of AppFolio during the 1st quarter worth about $420,000. Janney Montgomery Scott LLC purchased a new position in shares of AppFolio during the 1st quarter worth about $305,000. Oppenheimer Asset Management Inc. boosted its stake in shares of AppFolio by 34.8% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 5,049 shares of the software maker's stock worth $1,110,000 after purchasing an additional 1,304 shares during the period. Finally, Portside Wealth Group LLC purchased a new position in shares of AppFolio during the 1st quarter worth about $774,000. 85.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AppFolio

In other news, CEO William Shane Trigg sold 3,012 shares of the company's stock in a transaction that occurred on Friday, August 15th. The shares were 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 owned 63,556 shares of the company's stock, valued at approximately $16,841,068.88. This represents a 4.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Maurice J. Duca sold 2,324 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $276.80, for a total transaction of $643,283.20. Following the completion of the sale, the insider directly owned 35,376 shares of the company's stock, valued at $9,792,076.80. The trade was a 6.16% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders bought 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

A number of equities analysts recently commented on APPF shares. Piper Sandler raised shares of AppFolio from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $240.00 to $350.00 in a research note 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, DA Davidson restated a "buy" rating and issued a $350.00 target price on shares of AppFolio in a research note on Friday, August 1st. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, AppFolio currently has an average rating of "Moderate Buy" and a consensus target price of $303.00.

AppFolio Trading Up 2.0%

Shares of AppFolio stock traded up $5.35 on Friday, hitting $275.32. 328,243 shares of the company traded hands, compared to its average volume of 433,669. The stock's 50 day moving average price is $255.51 and its 200-day moving average price is $230.14. AppFolio, Inc. has a 52 week low of $189.01 and a 52 week high of $326.04. The company has a market cap of $9.87 billion, a PE ratio of 49.70 and a beta of 0.95.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $230.10 million. During the same quarter in the previous year, the firm posted $1.12 earnings per share. The company's revenue was up 19.4% on a year-over-year basis. AppFolio has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that AppFolio, Inc. will post 3.96 EPS for the current fiscal 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.