Alpha Wealth Funds LLC Sells 600 Shares of AppFolio, Inc. $APPF

Alpha Wealth Funds LLC reduced its stake in AppFolio, Inc. (NASDAQ:APPF) by 15.0% during the second quarter, HoldingsChannel.com reports. The fund owned 3,400 shares of the software maker’s stock after selling 600 shares during the quarter. AppFolio comprises approximately 0.6% of Alpha Wealth Funds LLC’s holdings, making the stock its 19th biggest position. Alpha Wealth Funds LLC’s holdings in AppFolio were worth $773,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of APPF. Fifth Third Bancorp increased its holdings in 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 last quarter. Caitong International Asset Management Co. Ltd bought a new stake in AppFolio in the 1st quarter valued at $55,000. 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 valued at $60,000 after acquiring an additional 208 shares during the last quarter. GAMMA Investing LLC increased its holdings in 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. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in AppFolio by 23.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 384 shares of the software maker’s stock valued at $84,000 after acquiring an additional 73 shares during the last quarter. 85.19% of the stock is currently owned by institutional investors.

AppFolio Stock Up 5.5%

AppFolio stock opened at $235.51 on Friday. The company’s 50-day moving average price is $266.00 and its 200-day moving average price is $243.23. AppFolio, Inc. has a twelve month low of $189.01 and a twelve month high of $326.04. The company has a market cap of $8.44 billion, a PE ratio of 42.51 and a beta of 0.83.

AppFolio (NASDAQ:APPF) last posted 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. AppFolio had a net margin of 23.54% and a return on equity of 26.32%. The firm had revenue of $235.58 million for the quarter, compared to the consensus estimate of $230.10 million. During the same period in the previous year, the firm posted $1.12 EPS. The business’s quarterly revenue was up 19.4% on a year-over-year basis. AppFolio has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

APPF has been the topic of a number of research reports. DA Davidson reiterated a “buy” rating and issued a $350.00 price target on shares of AppFolio in a report on Friday, August 1st. Weiss Ratings reiterated a “buy (b-)” rating on shares of AppFolio in a report on Wednesday, October 8th. Piper Sandler upgraded shares of AppFolio from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $240.00 to $350.00 in a report on Friday, August 1st. KeyCorp upgraded shares of AppFolio from a “sector weight” rating to an “overweight” rating and set a $285.00 target price on the stock in a report on Friday. Finally, Keefe, Bruyette & Woods boosted their target price on shares of AppFolio from $295.00 to $311.00 and gave the stock a “market perform” rating in a report on Wednesday, September 3rd. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, AppFolio presently has a consensus rating of “Moderate Buy” and a consensus target price of $318.20.

Insiders Place Their Bets

In other AppFolio news, CFO Timothy Mathias Eaton sold 667 shares of the firm’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $276.58, for a total value of $184,478.86. Following the completion of the sale, the chief financial officer owned 11,142 shares of the company’s stock, valued at $3,081,654.36. This trade represents a 5.65% 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 hyperlink. Also, CEO William Shane Trigg sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $276.95, for a total transaction of $1,107,800.00. Following the completion of the sale, the chief executive officer directly owned 59,556 shares of the company’s stock, valued at approximately $16,494,034.20. The trade was a 6.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,803 shares of company stock valued at $16,938,949 over the last quarter. Corporate insiders own 4.68% of the company’s stock.

AppFolio 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.