Versor Investments LP Acquires New Shares in AppFolio, Inc. $APPF

Key Points

• Versor Investments LP invested $339,000 in AppFolio, acquiring 1,541 shares, reflecting ongoing institutional interest in the company.
• AppFolio reported better-than-expected earnings with $1.38 EPS in its recent quarter, surpassing analyst estimates and showing a 19.4% year-over-year revenue growth.
• Analysts have set a consensus price target of $303.00 for AppFolio, with four recommending a "buy" rating and two a "hold" rating, indicating positive sentiment towards the stock's future performance.

Versor Investments LP bought a new position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,541 shares of the software maker's stock, valued at approximately $339,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in APPF. Kayne Anderson Rudnick Investment Management LLC bought a new stake in AppFolio during the 4th quarter worth approximately $103,503,000. Principal Financial Group Inc. raised its stake in AppFolio by 121.2% during the 1st quarter. Principal Financial Group Inc. now owns 401,888 shares of the software maker's stock worth $88,375,000 after acquiring an additional 220,239 shares during the period. AQR Capital Management LLC raised its position in shares of AppFolio by 43.2% during the fourth quarter. AQR Capital Management LLC now owns 655,625 shares of the software maker's stock valued at $161,756,000 after buying an additional 197,700 shares during the last quarter. Fiera Capital Corp bought a new stake in shares of AppFolio during the first quarter valued at approximately $35,896,000. Finally, Brown Advisory Inc. bought a new stake in shares of AppFolio during the first quarter valued at approximately $27,800,000. Institutional investors own 85.19% of the company's stock.

Wall Street Analysts Forecast Growth

APPF has been the topic of several recent analyst reports. Keefe, Bruyette & Woods upgraded shares of AppFolio from an "underperform" rating to a "market perform" rating and lifted their price objective for the company from $205.00 to $267.00 in a research report on Thursday, July 31st. DA Davidson reiterated a "buy" rating and set a $350.00 price objective on shares of AppFolio in a research report on Friday, August 1st. Finally, Piper Sandler upgraded shares of AppFolio from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $240.00 to $350.00 in a research report on Friday, August 1st. Four investment 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.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $303.00.

Insider Activity

In other news, CFO Timothy Mathias Eaton sold 667 shares of the business's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $276.58, for a total transaction of $184,478.86. Following the completion of the sale, the chief financial officer directly owned 11,142 shares of the company's stock, valued at approximately $3,081,654.36. The trade was a 5.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Maurice J. Duca sold 2,500 shares of the business's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $275.57, for a total transaction of $688,925.00. Following the sale, the insider directly owned 60,795 shares of the company's stock, valued at $16,753,278.15. This represents a 3.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 18,500 shares of company stock valued at $4,024,220 and sold 50,285 shares valued at $14,329,176. Insiders own 4.68% of the company's stock.

AppFolio Trading Up 0.9%

APPF traded up $2.54 during trading hours on Wednesday, hitting $276.27. The company's stock had a trading volume of 285,563 shares, compared to its average volume of 436,287. The business's 50-day moving average price is $258.57 and its 200-day moving average price is $231.11. AppFolio, Inc. has a 12 month low of $189.01 and a 12 month high of $326.04. The stock has a market cap of $9.90 billion, a price-to-earnings ratio of 49.87 and a beta of 0.95.

AppFolio (NASDAQ:APPF - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The software maker reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.11. The company had revenue of $235.58 million for 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%. AppFolio's quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.12 earnings per share. AppFolio has set its FY 2025 guidance at EPS. On average, analysts forecast that AppFolio, Inc. will post 3.96 earnings per share for the current year.

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.