Portside Wealth Group LLC Increases Stock Position in AppFolio, Inc. $APPF

Portside Wealth Group LLC grew its stake in AppFolio, Inc. (NASDAQ:APPF) by 8.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,828 shares of the software maker’s stock after buying an additional 307 shares during the period. Portside Wealth Group LLC’s holdings in AppFolio were worth $882,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Huntington National Bank raised its position in shares of AppFolio by 58.7% during the 2nd quarter. Huntington National Bank now owns 200 shares of the software maker’s stock valued at $46,000 after buying an additional 74 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in AppFolio in the second quarter valued at $52,000. Caitong International Asset Management Co. Ltd bought a new position in AppFolio in the first quarter valued at $55,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in AppFolio by 23.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 384 shares of the software maker’s stock valued at $84,000 after purchasing an additional 73 shares in the last quarter. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in AppFolio during the second quarter worth about $90,000. Institutional investors own 85.19% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Weiss Ratings lowered AppFolio from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. Keefe, Bruyette & Woods raised AppFolio from a “market perform” rating to an “outperform” rating and set a $311.00 target price for the company in a research note on Friday, October 24th. DA Davidson decreased their price target on shares of AppFolio from $375.00 to $325.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Piper Sandler upgraded shares of AppFolio from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $240.00 to $350.00 in a report on Friday, August 1st. Finally, KeyCorp reduced their target price on shares of AppFolio from $285.00 to $270.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, AppFolio has an average rating of “Moderate Buy” and an average target price of $310.20.

Insiders Place Their Bets

In related news, insider Matthew S. Mazza sold 1,636 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $276.98, for a total value of $453,139.28. Following the sale, the insider directly owned 25,015 shares of the company’s stock, valued at $6,928,654.70. This trade represents a 6.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Evan Pickering sold 334 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $243.67, for a total value of $81,385.78. Following the transaction, the general counsel owned 2,969 shares in the company, valued at approximately $723,456.23. This represents a 10.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 22,801 shares of company stock worth $6,312,246. 4.68% of the stock is currently owned by insiders.

AppFolio Price Performance

Shares of AppFolio stock opened at $228.08 on Wednesday. AppFolio, Inc. has a one year low of $190.24 and a one year high of $326.04. The business’s 50 day simple moving average is $253.56 and its two-hundred day simple moving average is $248.24. The stock has a market capitalization of $8.19 billion, a P/E ratio of 40.95 and a beta of 0.83.

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

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.