AppFolio, Inc. $APPF Stake Cut by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. has reduced its stake in AppFolio, Inc. by 2.3% in Q1, now holding approximately 6.77% of the company, valued at $536 million.
• Notable insider activity includes major shareholder Klaus Schauser selling 3,000 shares, while director Robert Donald Casey III purchased 4,000 shares, reflecting shifts in ownership.
• Analyst coverage has improved, with Piper Sandler upgrading AppFolio from "neutral" to "overweight", and increasing the price target to $350 per share, contributing to an overall rating of "Moderate Buy."

Vanguard Group Inc. lowered its position in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 2.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,438,429 shares of the software maker's stock after selling 57,098 shares during the quarter. Vanguard Group Inc. owned 6.77% of AppFolio worth $536,211,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Colonial Trust Co SC purchased a new position in AppFolio during the fourth quarter worth $28,000. Fifth Third Bancorp boosted its stake in shares of AppFolio by 53.0% during the 1st quarter. Fifth Third Bancorp now owns 179 shares of the software maker's stock worth $39,000 after purchasing an additional 62 shares during the last quarter. Versant Capital Management Inc boosted its position in AppFolio by 4,975.0% during the first quarter. Versant Capital Management Inc now owns 203 shares of the software maker's stock worth $45,000 after acquiring an additional 199 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of AppFolio by 330.2% during the 1st quarter. Blue Trust Inc. now owns 271 shares of the software maker's stock worth $60,000 after purchasing an additional 208 shares during the period. Finally, UMB Bank n.a. grew its position in shares of AppFolio by 73.1% in the first quarter. UMB Bank n.a. now owns 289 shares of the software maker's stock valued at $64,000 after purchasing an additional 122 shares during the period. Hedge funds and other institutional investors own 85.19% of the company's stock.

Insider Activity

In other news, insider Elizabeth Erin Barat sold 4,682 shares of the firm's 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 sale, the insider directly owned 17,926 shares of the company's stock, valued at $4,083,363.54. This trade represents a 20.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert Donald Casey III bought 4,000 shares of AppFolio stock in a transaction dated Friday, June 6th. The shares were bought at an average cost of $217.73 per share, with a total value of $870,920.00. Following the completion of the acquisition, the director owned 27,856 shares of the company's stock, valued at $6,065,086.88. The trade was a 16.77% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 18,500 shares of company stock worth $4,024,220 and sold 38,006 shares worth $10,976,482. Company insiders own 4.68% of the company's stock.

AppFolio Stock Down 0.7%

NASDAQ APPF traded down $1.94 during trading hours on Tuesday, hitting $267.16. The company had a trading volume of 44,314 shares, compared to its average volume of 317,265. AppFolio, Inc. has a fifty-two week low of $189.01 and a fifty-two week high of $326.04. The business has a fifty day simple moving average of $252.04 and a 200-day simple moving average of $229.05. The firm has a market cap of $9.58 billion, a P/E ratio of 48.27 and a beta of 0.95.

AppFolio (NASDAQ:APPF - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The software maker reported $1.38 earnings per share (EPS) for the quarter, topping 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 company's revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.12 earnings per share. Equities analysts forecast that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Keefe, Bruyette & Woods upgraded AppFolio from an "underperform" rating to a "market perform" rating and lifted their price target for the company from $205.00 to $267.00 in a report on Thursday, July 31st. Piper Sandler raised shares of AppFolio from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $240.00 to $350.00 in a research note on Friday, August 1st. Finally, DA Davidson reiterated a "buy" rating and issued a $350.00 target price on shares of AppFolio in a report on Friday, August 1st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $303.00.

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.