Stanley Laman Group Ltd. Purchases New Position in AppFolio, Inc. $APPF

Key Points

• Stanley Laman Group Ltd. acquired a new position in AppFolio, purchasing 25,615 shares worth approximately $5.9 million, making it the firm's 26th largest holding.
• Institutional investors collectively own 85.19% of AppFolio's stock, with several firms, including Kayne Anderson Rudnick Investment Management LLC and Principal Financial Group Inc., significantly increasing their stakes in the company.
• AppFolio reported strong earnings with a 19.4% year-over-year revenue increase, beating analyst estimates for EPS and revenue in its last quarterly report.

Stanley Laman Group Ltd. purchased a new stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 25,615 shares of the software maker's stock, valued at approximately $5,899,000. AppFolio makes up 0.9% of Stanley Laman Group Ltd.'s holdings, making the stock its 26th biggest holding. Stanley Laman Group Ltd. owned about 0.07% of AppFolio as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of 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 valued at $170,110,000 after buying an additional 354,061 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of AppFolio by 121.2% in the 1st quarter. Principal Financial Group Inc. now owns 401,888 shares of the software maker's stock valued at $88,375,000 after buying an additional 220,239 shares in the last quarter. Invesco Ltd. grew its stake in shares of AppFolio by 1.9% in the 1st quarter. Invesco Ltd. now owns 347,125 shares of the software maker's stock valued at $76,333,000 after buying an additional 6,528 shares in the last quarter. New York State Common Retirement Fund grew its stake in shares of AppFolio by 23.3% in the 1st quarter. New York State Common Retirement Fund now owns 225,472 shares of the software maker's stock valued at $49,581,000 after buying an additional 42,631 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in AppFolio by 0.6% in the 1st quarter. Bank of New York Mellon Corp now owns 208,319 shares of the software maker's stock worth $45,809,000 after purchasing an additional 1,183 shares during the last quarter. Institutional investors own 85.19% of the company's stock.

AppFolio Trading Up 5.5%

Shares of NASDAQ APPF opened at $235.51 on Friday. The business has a fifty day simple moving average of $266.00 and a 200 day simple moving average of $243.12. The firm has a market capitalization of $8.44 billion, a price-to-earnings ratio of 42.51 and a beta of 0.83. AppFolio, Inc. has a one year low of $189.01 and a one 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 EPS for the quarter, beating analysts' consensus estimates of $1.27 by $0.11. The business had revenue of $235.58 million during the quarter, compared to analyst estimates of $230.10 million. AppFolio had a return on equity of 26.32% and a net margin of 23.54%.AppFolio's revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.12 earnings per share. AppFolio has set its FY 2025 guidance at EPS. On average, research analysts anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Insider Activity at AppFolio

In related news, major shareholder Klaus Schauser sold 3,000 shares of the company's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $295.14, for a total value of $885,420.00. Following the completion of the transaction, the insider directly owned 300,000 shares in the company, valued at approximately $88,542,000. This represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Maurice J. Duca sold 3,100 shares of the company's stock in a transaction 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 completion of the transaction, the insider owned 42,400 shares of the company's stock, valued at $13,626,512. The trade was a 6.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,803 shares of company stock worth $16,938,949. 4.68% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Weiss Ratings restated a "buy (b-)" rating on shares of AppFolio in a report on Wednesday, October 8th. Keefe, Bruyette & Woods boosted their target price on AppFolio from $295.00 to $311.00 and gave the stock a "market perform" rating in a report on Wednesday, September 3rd. Piper Sandler upgraded AppFolio from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $240.00 to $350.00 in a report on Friday, August 1st. KeyCorp upgraded AppFolio from a "sector weight" rating to an "overweight" rating and set a $285.00 price target for the company in a report on Friday. Finally, DA Davidson reiterated a "buy" rating and set a $350.00 price target on shares of AppFolio in a report on Friday, August 1st. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $318.20.

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.

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.