United Services Automobile Association Makes New Investment in AppFolio, Inc. $APPF

Key Points

• United Services Automobile Association acquired 1,405 shares of AppFolio, valued at approximately $311,000, as part of its new investment strategy in the first quarter.
• Institutional investors and hedge funds now own 85.19% of AppFolio's stock, indicating strong institutional confidence in the company.
• AppFolio's stock is currently trading around $276.09, with a 1-year high of $326.04 and a consensus rating of "Moderate Buy" among analysts.

United Services Automobile Association acquired a new position in AppFolio, Inc. (NASDAQ:APPF - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,405 shares of the software maker's stock, valued at approximately $311,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of APPF. Deutsche Bank AG boosted its stake in AppFolio by 90.6% in the fourth quarter. Deutsche Bank AG now owns 2,287 shares of the software maker's stock worth $564,000 after purchasing an additional 1,087 shares in the last quarter. Focus Partners Wealth boosted its stake in AppFolio by 54.9% in the fourth quarter. Focus Partners Wealth now owns 3,599 shares of the software maker's stock worth $888,000 after purchasing an additional 1,276 shares in the last quarter. Gotham Asset Management LLC boosted its stake in AppFolio by 27.7% in the fourth quarter. Gotham Asset Management LLC now owns 3,803 shares of the software maker's stock worth $938,000 after purchasing an additional 824 shares in the last quarter. Janus Henderson Group PLC boosted its stake in AppFolio by 710.3% in the fourth quarter. Janus Henderson Group PLC now owns 75,791 shares of the software maker's stock worth $18,699,000 after purchasing an additional 66,438 shares in the last quarter. Finally, Nomura Holdings Inc. acquired a new position in AppFolio in the fourth quarter worth $755,000. Institutional investors and hedge funds own 85.19% of the company's stock.

Insider Buying and Selling at AppFolio

In other AppFolio news, major shareholder Maurice J. Duca sold 3,100 shares of the stock in a transaction dated Monday, August 4th. The stock was 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 approximately $13,626,512. This represents a 6.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Klaus Schauser sold 3,000 shares of the stock in a transaction dated Friday, August 1st. The shares were 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 $88,542,000. The trade was a 0.99% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,803 shares of company stock valued at $14,995,040. 4.68% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Keefe, Bruyette & Woods boosted their price objective on AppFolio from $295.00 to $311.00 and gave the stock a "market perform" rating in a research note on Wednesday, September 3rd. DA Davidson reaffirmed a "buy" rating and set a $350.00 price target on shares of AppFolio in a research note on Friday, August 1st. Finally, Piper Sandler raised AppFolio from a "neutral" rating to an "overweight" rating and upped their price target for the company from $240.00 to $350.00 in a research note on Friday, August 1st. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $311.80.

AppFolio Trading Down 1.9%

NASDAQ:APPF opened at $276.09 on Friday. AppFolio, Inc. has a 1-year low of $189.01 and a 1-year high of $326.04. The business's 50-day moving average price is $270.29 and its two-hundred day moving average price is $236.34. The firm has a market capitalization of $9.90 billion, a price-to-earnings ratio of 49.84 and a beta of 0.89.

AppFolio (NASDAQ:APPF - Get Free Report) last released its 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 return on equity of 26.32% and a net margin of 23.54%.The firm had revenue of $235.58 million for the quarter, compared to analyst estimates of $230.10 million. During the same quarter in the prior year, the firm posted $1.12 earnings per share. The company's quarterly revenue was up 19.4% on a year-over-year basis. AppFolio has set its FY 2025 guidance at EPS. Sell-side analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current 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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