Janus Henderson Group PLC Sells 10,034 Shares of AppFolio, Inc. $APPF

Janus Henderson Group PLC lessened its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 50.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,838 shares of the software maker’s stock after selling 10,034 shares during the period. Janus Henderson Group PLC’s holdings in AppFolio were worth $1,554,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. M&T Bank Corp raised its holdings in AppFolio by 1,643.8% in the 4th quarter. M&T Bank Corp now owns 96,153 shares of the software maker’s stock worth $22,370,000 after acquiring an additional 90,639 shares during the period. Vanguard Group Inc. boosted its holdings in AppFolio by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 2,560,460 shares of the software maker’s stock valued at $595,691,000 after acquiring an additional 101,466 shares during the period. Riverbridge Partners LLC bought a new stake in AppFolio during the first quarter valued at about $13,906,000. Quantum Capital Management LLC NJ acquired a new stake in shares of AppFolio in the fourth quarter valued at about $7,995,000. Finally, Principal Financial Group Inc. grew its position in shares of AppFolio by 6.8% in the fourth quarter. Principal Financial Group Inc. now owns 1,245,949 shares of the software maker’s stock valued at $289,880,000 after purchasing an additional 79,197 shares during the last quarter. Institutional investors own 85.19% of the company’s stock.

Insider Transactions at AppFolio

In other AppFolio news, General Counsel Evan Pickering sold 661 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $200.49, for a total transaction of $132,523.89. Following the completion of the transaction, the general counsel owned 5,894 shares in the company, valued at $1,181,688.06. This trade represents a 10.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Maurice J. Duca sold 1,134 shares of AppFolio stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $197.13, for a total value of $223,545.42. Following the sale, the insider directly owned 59,662 shares in the company, valued at $11,761,170.06. The trade was a 1.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 89,318 shares of company stock worth $16,175,746. 1.57% of the stock is currently owned by insiders.

AppFolio Price Performance

APPF opened at $198.74 on Monday. AppFolio, Inc. has a fifty-two week low of $142.56 and a fifty-two week high of $300.25. The firm’s fifty day moving average price is $169.70 and its two-hundred day moving average price is $170.96. The company has a market capitalization of $7.04 billion, a P/E ratio of 45.37 and a beta of 0.78.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, July 23rd. The software maker reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.02. The firm had revenue of $281.12 million for the quarter, compared to analyst estimates of $277.35 million. AppFolio had a net margin of 15.13% and a return on equity of 32.42%. The business’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.38 EPS. On average, equities research analysts expect that AppFolio, Inc. will post 5.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on APPF. Guggenheim initiated coverage on AppFolio in a research report on Wednesday, July 22nd. They set a “buy” rating and a $232.00 price objective for the company. Benchmark raised their target price on AppFolio from $222.00 to $226.00 and gave the company a “buy” rating in a report on Friday, April 24th. Zacks Research raised AppFolio from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 28th. Piper Sandler cut their price target on AppFolio from $245.00 to $210.00 and set an “overweight” rating for the company in a report on Friday, April 24th. Finally, UBS Group set a $210.00 price objective on AppFolio in a research report on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $243.50.

AppFolio Profile

AppFolio, Inc is a Santa Barbara–based provider of cloud-based software solutions for the property management and legal industries. Founded in 2006 by former software executives, the company went public on the NASDAQ under the symbol APPF in 2015. Its original offering, AppFolio Property Manager, automates accounting, marketing, leasing, and maintenance functions for residential, commercial, student housing, and community association managers.

In 2019, AppFolio expanded its portfolio with the acquisition of MyCase, a web-based legal practice management platform for small to mid-size law firms.