Verdence Capital Advisors LLC Purchases 1,302 Shares of AppFolio, Inc. $APPF

Verdence Capital Advisors LLC grew its position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 45.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,195 shares of the software maker's stock after purchasing an additional 1,302 shares during the period. Verdence Capital Advisors LLC's holdings in AppFolio were worth $966,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Fifth Third Bancorp increased its holdings in shares of AppFolio by 53.0% in the first quarter. Fifth Third Bancorp now owns 179 shares of the software maker's stock worth $39,000 after buying an additional 62 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of AppFolio in the first quarter worth about $55,000. Blue Trust Inc. increased its holdings in shares of AppFolio by 330.2% in the first quarter. Blue Trust Inc. now owns 271 shares of the software maker's stock worth $60,000 after buying an additional 208 shares during the period. GAMMA Investing LLC increased its holdings in shares of AppFolio by 110.1% in the first quarter. GAMMA Investing LLC now owns 353 shares of the software maker's stock worth $78,000 after buying an additional 185 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of AppFolio by 23.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 384 shares of the software maker's stock worth $84,000 after buying an additional 73 shares during the period. Hedge funds and other institutional investors own 85.19% of the company's stock.

AppFolio Stock Performance

APPF stock opened at $227.50 on Wednesday. AppFolio, Inc. has a fifty-two week low of $189.01 and a fifty-two week high of $326.04. The business's 50 day moving average price is $270.17 and its two-hundred day moving average price is $243.11. The company has a market capitalization of $8.16 billion, a price-to-earnings ratio of 41.07 and a beta of 0.83.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its earnings results on Thursday, July 31st. The software maker reported $1.38 earnings per share for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $230.10 million. During the same quarter in the prior year, the business earned $1.12 EPS. The business's revenue for the quarter was up 19.4% on a year-over-year basis. AppFolio has set its FY 2025 guidance at EPS. Sell-side analysts forecast that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Insiders Place Their Bets

In other AppFolio news, major shareholder Klaus Schauser sold 3,000 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $295.14, for a total transaction of $885,420.00. Following the transaction, the insider owned 300,000 shares in the company, valued at approximately $88,542,000. This represents a 0.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William Shane Trigg sold 4,000 shares of the company's stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $276.95, for a total value of $1,107,800.00. Following the transaction, the chief executive officer owned 59,556 shares in the company, valued at $16,494,034.20. This trade represents a 6.29% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,803 shares of company stock worth $16,938,949. Company insiders own 4.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on APPF. Keefe, Bruyette & Woods lifted their price objective on AppFolio from $295.00 to $311.00 and gave the stock a "market perform" rating in a report on Wednesday, September 3rd. DA Davidson restated a "buy" rating and set a $350.00 price target on shares of AppFolio in a report on Friday, August 1st. Piper Sandler upgraded AppFolio from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $240.00 to $350.00 in a report on Friday, August 1st. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of AppFolio in a report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $311.80.

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.

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