Zions Bancorporation National Association UT Invests $1.27 Million in AppFolio, Inc. (NASDAQ:APPF)

Key Points

• Zions Bancorporation National Association UT acquired 5,794 shares of AppFolio, valued at approximately $1.27 million, as part of its investment strategy in the first quarter.
• AppFolio reported a 19.4% increase in revenue year-over-year, totaling $235.58 million, surpassing analysts' expectations.
• Insider trading activity showed CEO William Shane Trigg sold 5,900 shares while Director Robert Donald Casey III increased their stake by purchasing 4,000 shares.

Zions Bancorporation National Association UT purchased a new stake in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 5,794 shares of the software maker's stock, valued at approximately $1,274,000.

A number of other large investors have also recently bought and sold shares of APPF. Colonial Trust Co SC purchased a new position in AppFolio during the fourth quarter worth about $28,000. Fifth Third Bancorp raised its holdings in shares of AppFolio by 53.0% in the 1st quarter. Fifth Third Bancorp now owns 179 shares of the software maker's stock worth $39,000 after purchasing an additional 62 shares during the period. Versant Capital Management Inc increased its position in AppFolio by 4,975.0% in the first quarter. Versant Capital Management Inc now owns 203 shares of the software maker's stock worth $45,000 after buying an additional 199 shares during the last quarter. Blue Trust Inc. increased its holdings in AppFolio by 330.2% in the 1st quarter. Blue Trust Inc. now owns 271 shares of the software maker's stock worth $60,000 after acquiring an additional 208 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in AppFolio by 73.1% in the 1st quarter. UMB Bank n.a. now owns 289 shares of the software maker's stock worth $64,000 after buying an additional 122 shares during the period. 85.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AppFolio

In other AppFolio news, major shareholder Maurice J. Duca sold 2,324 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $276.80, for a total transaction of $643,283.20. Following the transaction, the insider owned 35,376 shares in the company, valued at $9,792,076.80. The trade was a 6.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders have acquired 18,500 shares of company stock worth $4,024,220 and have sold 44,963 shares worth $12,457,771. 4.68% of the stock is currently owned by insiders.

AppFolio Price Performance

APPF stock traded up $0.71 on Thursday, reaching $269.43. 87,962 shares of the company traded hands, compared to its average volume of 318,371. The firm has a fifty day simple moving average of $249.06 and a 200-day simple moving average of $229.00. The company has a market cap of $9.66 billion, a P/E ratio of 48.68 and a beta of 0.95. AppFolio, Inc. has a one year low of $189.01 and a one year high of $326.04.

AppFolio (NASDAQ:APPF - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The software maker reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.11. The business had revenue of $235.58 million during the quarter, compared to analyst estimates of $230.10 million. AppFolio had a return on equity of 26.32% and a net margin of 23.54%. AppFolio's revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.12 earnings per share. On average, sell-side analysts forecast that AppFolio, Inc. will post 3.96 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on APPF shares. Keefe, Bruyette & Woods upgraded AppFolio from an "underperform" rating to a "market perform" rating and lifted their price target for the company from $205.00 to $267.00 in a research report on Thursday, July 31st. DA Davidson reiterated a "buy" rating and issued a $350.00 target price on shares of AppFolio in a research report on Friday, August 1st. Finally, Piper Sandler upgraded AppFolio from a "neutral" rating to an "overweight" rating and raised their price target for the company from $240.00 to $350.00 in a research report on Friday, August 1st. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $303.00.

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.