AppFolio, Inc. $APPF Stock Position Raised by Bayforest Capital Ltd

Bayforest Capital Ltd lifted its position in AppFolio, Inc. (NASDAQ:APPF) by 41.9% in the 1st quarter, Holdings Channel reports. The fund owned 1,534 shares of the software maker’s stock after buying an additional 453 shares during the period. Bayforest Capital Ltd’s holdings in AppFolio were worth $337,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. New York State Teachers Retirement System lifted its position in shares of AppFolio by 80.8% in the 1st quarter. New York State Teachers Retirement System now owns 8,773 shares of the software maker’s stock valued at $1,929,000 after acquiring an additional 3,922 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in AppFolio in the 1st quarter worth approximately $420,000. Janney Montgomery Scott LLC purchased a new stake in AppFolio in the 1st quarter worth approximately $305,000. Oppenheimer Asset Management Inc. lifted its position in AppFolio by 34.8% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 5,049 shares of the software maker’s stock worth $1,110,000 after buying an additional 1,304 shares in the last quarter. Finally, Northern Trust Corp lifted its position in AppFolio by 0.8% in the 1st quarter. Northern Trust Corp now owns 193,780 shares of the software maker’s stock worth $42,612,000 after buying an additional 1,493 shares in the last quarter. Hedge funds and other institutional investors own 85.19% of the company’s stock.

Insider Activity at AppFolio

In related news, major shareholder Maurice J. Duca sold 3,100 shares of the firm’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $321.38, for a total value of $996,278.00. Following the transaction, the insider directly owned 42,400 shares in the company, valued at approximately $13,626,512. This trade represents a 6.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Klaus Schauser sold 3,000 shares of the firm’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $295.14, for a total transaction of $885,420.00. Following the completion of the transaction, the insider owned 300,000 shares in the company, valued at $88,542,000. The trade was a 0.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,803 shares of company stock worth $14,995,040. 4.68% of the stock is owned by insiders.

AppFolio Trading Down 1.0%

AppFolio stock opened at $276.72 on Thursday. The company has a market capitalization of $9.92 billion, a P/E ratio of 49.95 and a beta of 0.89. The firm’s fifty day simple moving average is $268.56 and its 200-day simple moving average is $235.44. AppFolio, Inc. has a 1-year low of $189.01 and a 1-year high of $326.04.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, July 31st. The software maker reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.11. AppFolio had a net margin of 23.54% and a return on equity of 26.32%. The business had revenue of $235.58 million for the quarter, compared to the consensus estimate of $230.10 million. During the same quarter last year, the firm earned $1.12 EPS. AppFolio’s revenue for the quarter was up 19.4% on a year-over-year basis. AppFolio has set its FY 2025 guidance at EPS. On average, equities research analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. 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. Piper Sandler upgraded shares of AppFolio from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $240.00 to $350.00 in a research report on Friday, August 1st. Finally, Keefe, Bruyette & Woods increased their target price on shares of AppFolio from $295.00 to $311.00 and gave the stock a “market perform” rating in a research report on Wednesday, September 3rd. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $311.80.

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.