2,178 Shares in AppFolio, Inc. $APPF Acquired by Bryce Point Capital LLC

Bryce Point Capital LLC purchased a new stake in AppFolio, Inc. (NASDAQ:APPF) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,178 shares of the software maker’s stock, valued at approximately $502,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp increased its stake in shares of AppFolio by 6.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 221,812 shares of the software maker’s stock valued at $51,079,000 after acquiring an additional 13,493 shares in the last quarter. Versor Investments LP grew its holdings in AppFolio by 231.7% in the second quarter. Versor Investments LP now owns 5,111 shares of the software maker’s stock worth $1,177,000 after purchasing an additional 3,570 shares during the period. Atria Investments Inc increased its stake in AppFolio by 4.9% in the second quarter. Atria Investments Inc now owns 3,830 shares of the software maker’s stock valued at $882,000 after purchasing an additional 178 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of AppFolio by 47.4% during the second quarter. Jennison Associates LLC now owns 90,171 shares of the software maker’s stock valued at $20,765,000 after purchasing an additional 28,986 shares during the period. Finally, Motley Fool Asset Management LLC boosted its position in shares of AppFolio by 9.7% during the 2nd quarter. Motley Fool Asset Management LLC now owns 1,048 shares of the software maker’s stock worth $241,000 after purchasing an additional 93 shares in the last quarter. 85.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on APPF. Piper Sandler raised AppFolio from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $240.00 to $350.00 in a research report on Friday, August 1st. Weiss Ratings restated a “buy (b-)” rating on shares of AppFolio in a report on Wednesday, October 8th. KeyCorp cut their target price on AppFolio from $285.00 to $270.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Keefe, Bruyette & Woods raised shares of AppFolio from a “market perform” rating to an “outperform” rating and set a $311.00 price target for the company in a research report on Friday, October 24th. Finally, DA Davidson lowered their price objective on shares of AppFolio from $375.00 to $325.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Seven investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $310.20.

AppFolio Stock Down 0.6%

Shares of NASDAQ:APPF opened at $260.62 on Wednesday. The business’s 50 day moving average is $259.78 and its 200 day moving average is $245.68. AppFolio, Inc. has a 12-month low of $190.24 and a 12-month high of $326.04. The stock has a market cap of $9.34 billion, a price-to-earnings ratio of 46.79 and a beta of 0.83.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, October 30th. The software maker reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.14). The company had revenue of $249.35 million during the quarter, compared to analysts’ expectations of $245.39 million. AppFolio had a net margin of 22.48% and a return on equity of 25.97%. The company’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.29 earnings per share. AppFolio has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Insider Activity at AppFolio

In other AppFolio news, major shareholder Maurice J. Duca sold 3,100 shares of the company’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $282.43, for a total value of $875,533.00. Following the completion of the sale, the insider directly owned 35,900 shares of the company’s stock, valued at approximately $10,139,237. This represents a 7.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Janet Kerr sold 2,500 shares of the stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $285.04, for a total transaction of $712,600.00. Following the completion of the sale, the director owned 11,995 shares of the company’s stock, valued at approximately $3,419,054.80. This trade represents a 17.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 39,003 shares of company stock valued at $10,857,891 over the last ninety days. Corporate insiders own 4.68% of the company’s stock.

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.