William Blair Investment Management LLC Has $168.89 Million Stock Holdings in AppFolio, Inc. $APPF

Key Points

• William Blair Investment Management LLC has increased its stake in AppFolio, Inc. by 73.6%, now owning approximately 2.04% of the company with holdings worth $168.89 million.
• Major shareholders have sold significant shares recently, including Klaus Schauser and Maurice J. Duca, reducing their positions by 0.99% and 6.81% respectively, with insiders selling a total of 58,803 shares valued at $16.94 million over the past three months.
• AppFolio's stock has received multiple analyst ratings, with a consensus rating of "Moderate Buy" and an average price target of $318.20, indicating positive market sentiment for the company.

William Blair Investment Management LLC increased its stake in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 73.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 733,428 shares of the software maker's stock after purchasing an additional 310,834 shares during the period. William Blair Investment Management LLC owned approximately 2.04% of AppFolio worth $168,894,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in APPF. Rhumbline Advisers lifted its stake in AppFolio by 0.7% in the first quarter. Rhumbline Advisers now owns 64,229 shares of the software maker's stock valued at $14,124,000 after buying an additional 437 shares during the period. GAMMA Investing LLC increased its stake in shares of AppFolio by 110.1% in the 1st quarter. GAMMA Investing LLC now owns 353 shares of the software maker's stock valued at $78,000 after acquiring an additional 185 shares during the last quarter. Fifth Third Bancorp raised its position in shares of AppFolio by 53.0% in the 1st quarter. Fifth Third Bancorp now owns 179 shares of the software maker's stock valued at $39,000 after acquiring an additional 62 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of AppFolio in the 1st quarter valued at approximately $305,000. 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 worth $598,000 after acquiring an additional 85 shares during the last quarter. Institutional investors own 85.19% of the company's stock.

Insider Transactions at AppFolio

In other AppFolio news, major shareholder Klaus Schauser sold 3,000 shares of the business'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 value of $885,420.00. Following the sale, the insider owned 300,000 shares in the company, valued at approximately $88,542,000. The trade was a 0.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Maurice J. Duca sold 3,100 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $321.38, for a total transaction of $996,278.00. Following the transaction, the insider directly owned 42,400 shares of the company's stock, valued at $13,626,512. This represents a 6.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 58,803 shares of company stock valued at $16,938,949 over the last three months. Company insiders own 4.68% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on APPF shares. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of AppFolio in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods boosted their price target on shares of AppFolio from $295.00 to $311.00 and gave the company a "market perform" rating in a report on Wednesday, September 3rd. Piper Sandler upgraded 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 research report on Friday, August 1st. KeyCorp raised AppFolio from a "sector weight" rating to an "overweight" rating and set a $285.00 price objective on the stock in a research note on Friday. Finally, DA Davidson reiterated a "buy" rating and set a $350.00 target price on shares of AppFolio in a report on Friday, August 1st. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $318.20.

AppFolio Stock Up 5.5%

Shares of APPF stock opened at $235.51 on Friday. AppFolio, Inc. has a 12-month low of $189.01 and a 12-month high of $326.04. The firm has a fifty day moving average of $266.00 and a 200-day moving average of $243.12. The company has a market capitalization of $8.44 billion, a price-to-earnings ratio of 42.51 and a beta of 0.83.

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 analysts' consensus estimates of $1.27 by $0.11. The firm 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%. The company's revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.12 EPS. AppFolio has set its FY 2025 guidance at EPS. On average, equities analysts expect 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.

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