Park Avenue Securities LLC Makes New $288,000 Investment in AppFolio, Inc. $APPF

Key Points

• Park Avenue Securities LLC has invested approximately $288,000 in AppFolio, acquiring 1,251 shares of the company in the second quarter.
• Several institutional investors have increased their positions in AppFolio, with Kayne Anderson Rudnick Investment Management growing its stake by 84.4% in the first quarter.
• AppFolio reported a $1.38 EPS for the last quarter, exceeding analysts' expectations and demonstrating a year-over-year revenue growth of 19.4%.

Park Avenue Securities LLC bought a new position in AppFolio, Inc. (NASDAQ:APPF - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,251 shares of the software maker's stock, valued at approximately $288,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of APPF. Kayne Anderson Rudnick Investment Management LLC grew its position in AppFolio by 84.4% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 773,579 shares of the software maker's stock worth $170,110,000 after purchasing an additional 354,061 shares during the last quarter. Principal Financial Group Inc. grew its position in AppFolio by 121.2% in the 1st quarter. Principal Financial Group Inc. now owns 401,888 shares of the software maker's stock worth $88,375,000 after purchasing an additional 220,239 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in AppFolio by 4,272.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 172,972 shares of the software maker's stock worth $38,037,000 after purchasing an additional 169,016 shares during the last quarter. Fiera Capital Corp bought a new position in AppFolio in the 1st quarter worth about $35,896,000. Finally, Brown Advisory Inc. bought a new position in AppFolio in the 1st quarter worth about $27,800,000. Institutional investors own 85.19% of the company's stock.

Insider Buying and Selling

In related news, CEO William Shane Trigg sold 4,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $276.95, for a total value of $1,107,800.00. Following the completion of the transaction, the chief executive officer owned 59,556 shares of the company's stock, valued at approximately $16,494,034.20. This trade represents a 6.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Klaus Schauser sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $295.14, for a total transaction of $885,420.00. Following the completion of the transaction, the insider directly owned 300,000 shares of the company's stock, valued at $88,542,000. This represents a 0.99% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 58,803 shares of company stock valued at $16,938,949. Company insiders own 4.68% of the company's stock.

AppFolio Stock Performance

AppFolio stock opened at $275.66 on Wednesday. The company has a 50 day moving average price of $278.25 and a 200 day moving average price of $241.82. AppFolio, Inc. has a 52 week low of $189.01 and a 52 week high of $326.04. The firm has a market capitalization of $9.88 billion, a price-to-earnings ratio of 49.76 and a beta of 0.89.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The software maker reported $1.38 EPS for the quarter, topping analysts' consensus estimates 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 analyst estimates of $230.10 million. During the same quarter last year, the business posted $1.12 EPS. The company's revenue was up 19.4% on a year-over-year basis. AppFolio has set its FY 2025 guidance at EPS. Equities analysts forecast that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on APPF shares. Keefe, Bruyette & Woods increased their price objective on shares of AppFolio from $295.00 to $311.00 and gave the company a "market perform" rating in a report on Wednesday, September 3rd. DA Davidson reiterated a "buy" rating and issued a $350.00 price objective on shares of AppFolio in a report on Friday, August 1st. Finally, Piper Sandler upgraded shares of AppFolio from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $240.00 to $350.00 in a report on Friday, August 1st. Four 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 has a consensus rating of "Moderate Buy" and a consensus price target of $311.80.

AppFolio Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.