AppFolio, Inc. $APPF Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP reduced its stake in AppFolio, Inc. by 39.2% during the first quarter, holding $12.15 million worth of shares after selling 35,581 shares.
• AppFolio reported earnings of $1.38 per share, exceeding analysts' expectations, with revenue reaching $235.58 million, up 19.4% year-over-year.
• Analysts have positively rated AppFolio, with price targets raised to as high as $350.00, reflecting strong confidence in the company's growth potential.

Wellington Management Group LLP trimmed its holdings in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 39.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,257 shares of the software maker's stock after selling 35,581 shares during the period. Wellington Management Group LLP owned 0.15% of AppFolio worth $12,151,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Colonial Trust Co SC acquired a new stake in shares of AppFolio in the fourth quarter valued at about $28,000. Fifth Third Bancorp raised its position in shares of AppFolio by 53.0% in the first quarter. Fifth Third Bancorp now owns 179 shares of the software maker's stock valued at $39,000 after buying an additional 62 shares during the last quarter. Versant Capital Management Inc raised its position in shares of AppFolio by 4,975.0% in the first quarter. Versant Capital Management Inc now owns 203 shares of the software maker's stock valued at $45,000 after buying an additional 199 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of AppFolio in the first quarter valued at about $55,000. Finally, Blue Trust Inc. grew 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 valued at $60,000 after purchasing an additional 208 shares during the period. 85.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on APPF. Piper Sandler raised shares of AppFolio from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $240.00 to $350.00 in a report on Friday, August 1st. DA Davidson reissued a "buy" rating and issued a $350.00 price objective on shares of AppFolio in a report on Friday, August 1st. Finally, Keefe, Bruyette & Woods raised shares of AppFolio from an "underperform" rating to a "market perform" rating and upped their price objective for the company from $205.00 to $267.00 in a report on Thursday, July 31st. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, AppFolio currently has a consensus rating of "Moderate Buy" and a consensus target price of $303.00.

Insider Activity at AppFolio

In other AppFolio news, major shareholder Maurice J. Duca sold 3,100 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $321.38, for a total transaction of $996,278.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Elizabeth Erin Barat sold 4,682 shares of the stock in a transaction dated 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 transaction, the insider directly owned 17,926 shares of the company's stock, valued at approximately $4,083,363.54. This trade represents a 20.71% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 18,500 shares of company stock valued at $4,024,220 and have sold 53,985 shares valued at $15,348,953. 4.68% of the stock is owned by corporate insiders.

AppFolio Stock Up 0.4%

APPF stock traded up $1.16 during mid-day trading on Friday, hitting $277.38. 221,099 shares of the company were exchanged, compared to its average volume of 421,578. The firm has a market capitalization of $9.94 billion, a P/E ratio of 50.07 and a beta of 0.95. The business has a fifty day simple moving average of $260.70 and a 200-day simple moving average of $232.01. AppFolio, Inc. has a 12-month low of $189.01 and a 12-month high of $326.04.

AppFolio (NASDAQ:APPF - Get Free Report) last announced its 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 during the quarter, compared to analyst estimates of $230.10 million. AppFolio had a net margin of 23.54% and a return on equity of 26.32%. AppFolio's revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.12 earnings per share. AppFolio has set its FY 2025 guidance at EPS. Research analysts predict that AppFolio, Inc. will post 3.96 EPS for the current year.

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.