United Services Automobile Association Takes $311,000 Position 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 purchased a new stake in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,405 shares of the software maker's stock, valued at approximately $311,000.

Other institutional investors have also made changes to their positions in the company. New York State Teachers Retirement System increased its position in shares of AppFolio by 80.8% during the first quarter. New York State Teachers Retirement System now owns 8,773 shares of the software maker's stock valued at $1,929,000 after acquiring an additional 3,922 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of AppFolio during the first quarter valued at about $420,000. Janney Montgomery Scott LLC acquired a new stake in shares of AppFolio during the first quarter valued at about $305,000. Oppenheimer Asset Management Inc. increased its position in shares of AppFolio by 34.8% during the first quarter. Oppenheimer Asset Management Inc. now owns 5,049 shares of the software maker's stock valued at $1,110,000 after acquiring an additional 1,304 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of AppFolio by 0.8% during the first quarter. Northern Trust Corp now owns 193,780 shares of the software maker's stock valued at $42,612,000 after acquiring an additional 1,493 shares during the last quarter. 85.19% of the stock is currently owned by institutional investors and hedge funds.

AppFolio Price Performance

Shares of APPF stock traded up $3.14 during trading on Thursday, reaching $279.89. The company's stock had a trading volume of 143,361 shares, compared to its average volume of 225,679. The company has a market capitalization of $10.03 billion, a price-to-earnings ratio of 50.52 and a beta of 0.89. The stock's 50-day moving average price is $273.04 and its 200 day moving average price is $238.14. 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 announced its quarterly earnings data on Thursday, July 31st. The software maker reported $1.38 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $0.11. The firm had revenue of $235.58 million during the quarter, compared to analysts' expectations of $230.10 million. AppFolio had a net margin of 23.54% and a return on equity of 26.32%. During the same quarter in the previous year, the business posted $1.12 earnings per share. The business's quarterly revenue was up 19.4% compared to the same quarter last year. AppFolio has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

Insiders Place Their Bets

In other AppFolio news, CEO William Shane Trigg sold 4,000 shares of the business'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 transaction of $1,107,800.00. Following the completion of the transaction, the chief executive officer owned 59,556 shares in the company, valued at $16,494,034.20. The trade was a 6.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Maurice J. Duca sold 3,100 shares of the business's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $321.38, for a total transaction of $996,278.00. Following the transaction, the insider owned 42,400 shares of the company's stock, valued at $13,626,512. This trade represents a 6.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,803 shares of company stock worth $16,938,949 in the last 90 days. Corporate insiders own 4.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on APPF shares. Piper Sandler upgraded shares of AppFolio from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $240.00 to $350.00 in a research report on Friday, August 1st. Keefe, Bruyette & Woods lifted 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. Finally, DA Davidson restated a "buy" rating and issued a $350.00 price objective on shares of AppFolio 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, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $311.80.

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.