Wallace Advisory Group LLC Takes Position in AppFolio, Inc. $APPF

Key Points

• Wallace Advisory Group LLC has made a new investment in AppFolio, acquiring 1,134 shares valued at approximately $249,000, marking a notable addition from other institutional investors.
• AppFolio's stock increased by 2.1%, with the current share price at $240.38, reflecting fluctuations in stock performance over the past year with a low of $189.01 and high of $326.04.
• The company reported strong earnings with an EPS of $1.38 for the last quarter, exceeding expectations and demonstrating a 19.4% revenue growth compared to the previous year.

Wallace Advisory Group LLC bought a new stake in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,134 shares of the software maker's stock, valued at approximately $249,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Woodline Partners LP grew its holdings in AppFolio by 2.9% in the 1st quarter. Woodline Partners LP now owns 1,754 shares of the software maker's stock worth $386,000 after buying an additional 50 shares in the last quarter. Somerset Trust Co lifted its position in AppFolio by 6.7% in the second quarter. Somerset Trust Co now owns 1,105 shares of the software maker's stock worth $254,000 after purchasing an additional 69 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in AppFolio by 23.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 384 shares of the software maker's stock valued at $84,000 after purchasing an additional 73 shares in the last quarter. Deutsche Bank AG boosted its stake in AppFolio by 3.3% during the 1st quarter. Deutsche Bank AG now owns 2,362 shares of the software maker's stock valued at $519,000 after purchasing an additional 75 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in AppFolio by 3.2% during the 1st quarter. State of Alaska Department of Revenue now owns 2,720 shares of the software maker's stock valued at $598,000 after purchasing an additional 85 shares in the last quarter. 85.19% of the stock is owned by institutional investors.

AppFolio Stock Up 2.1%

APPF stock opened at $240.38 on Tuesday. AppFolio, Inc. has a twelve month low of $189.01 and a twelve month high of $326.04. The company has a market cap of $8.62 billion, a PE ratio of 43.39 and a beta of 0.83. The business's 50-day simple moving average is $265.19 and its 200 day simple moving average is $243.53.

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, topping analysts' consensus estimates of $1.27 by $0.11. The business had revenue of $235.58 million for the quarter, compared to the consensus estimate of $230.10 million. AppFolio had a return on equity of 26.32% and a net margin of 23.54%.The firm's revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period last year, the business earned $1.12 earnings per share. AppFolio has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that AppFolio, Inc. will post 3.96 EPS for the current year.

Insider Activity

In other news, major shareholder Klaus Schauser sold 3,000 shares of AppFolio stock in a transaction that occurred on 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 owned 300,000 shares in the company, valued at approximately $88,542,000. The trade was a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William Shane Trigg sold 4,000 shares of AppFolio 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 of the company's stock, 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. Over the last 90 days, insiders sold 58,803 shares of company stock worth $16,938,949. Insiders own 4.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on APPF shares. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of AppFolio in a research note on Wednesday, October 8th. Piper Sandler raised AppFolio from a "neutral" rating to an "overweight" rating and increased their price target for the company from $240.00 to $350.00 in a research note on Friday, August 1st. Keefe, Bruyette & Woods increased their price target on AppFolio from $295.00 to $311.00 and gave the company a "market perform" rating in a research note on Wednesday, September 3rd. DA Davidson reaffirmed a "buy" rating and set a $350.00 target price on shares of AppFolio in a research report on Friday, August 1st. Finally, KeyCorp raised AppFolio from a "sector weight" rating to an "overweight" rating and set a $285.00 target price on the stock in a research report on Friday. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, AppFolio has a consensus rating of "Moderate Buy" and a consensus price target of $318.20.

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.

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