PDT Partners LLC Increases Stock Holdings in AppFolio, Inc. $APPF

Key Points

• PDT Partners LLC increased its stake in AppFolio, Inc. by 23.9% in the first quarter, owning a total of 5,704 shares valued at approximately $1.25 million.
• Major shareholder Maurice J. Duca sold 2,500 shares of AppFolio stock at an average price of $275.57, representing a 4.29% decrease in their ownership.
• AppFolio reported earnings of $1.38 per share, exceeding analysts' expectations, with a revenue increase of 19.4% year-over-year, leading to an average price target of $311.80 from analysts.

PDT Partners LLC lifted its holdings in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 23.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 5,704 shares of the software maker's stock after acquiring an additional 1,100 shares during the period. PDT Partners LLC's holdings in AppFolio were worth $1,254,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of APPF. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of AppFolio during the fourth quarter worth about $103,503,000. Principal Financial Group Inc. lifted its holdings in shares of AppFolio by 121.2% during the first 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 period. Fiera Capital Corp acquired a new stake in shares of AppFolio during the first quarter worth about $35,896,000. Brown Advisory Inc. acquired a new stake in shares of AppFolio during the first quarter worth about $27,800,000. Finally, Nuveen LLC acquired a new stake in shares of AppFolio during the first quarter worth about $27,464,000. Hedge funds and other institutional investors own 85.19% of the company's stock.

Insiders Place Their Bets

In other news, insider Elizabeth Erin Barat sold 4,682 shares of the stock in a transaction on Wednesday, June 11th. The stock was 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 in the company, valued at approximately $4,083,363.54. This represents a 20.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Maurice J. Duca sold 3,100 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $282.43, for a total value of $875,533.00. Following the transaction, the insider owned 35,900 shares of the company's stock, valued at approximately $10,139,237. This represents a 7.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 53,985 shares of company stock valued at $15,348,953. 4.68% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have commented on APPF. DA Davidson restated a "buy" rating and issued a $350.00 price objective on shares of AppFolio in a research report on Friday, August 1st. Piper Sandler upgraded AppFolio from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $240.00 to $350.00 in a research report on Friday, August 1st. Finally, Keefe, Bruyette & Woods upped their price objective on AppFolio from $295.00 to $311.00 and gave the stock a "market perform" rating in a research report on Wednesday, September 3rd. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $311.80.

AppFolio Trading Down 2.1%

NASDAQ:APPF traded down $6.10 during trading hours on Tuesday, hitting $280.36. The company had a trading volume of 39,287 shares, compared to its average volume of 311,469. The company has a 50-day moving average of $266.68 and a 200 day moving average of $234.84. The company has a market cap of $10.05 billion, a P/E ratio of 50.51 and a beta of 0.89. AppFolio, Inc. has a 1 year low of $189.01 and a 1 year high of $326.04.

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

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.