Intech Investment Management LLC Buys New Stake in AppFolio, Inc. $APPF

Intech Investment Management LLC bought a new stake in shares of AppFolio, Inc. (NASDAQ:APPF) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 8,415 shares of the software maker’s stock, valued at approximately $1,938,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Huntington National Bank increased its holdings in shares of AppFolio by 58.7% during the second quarter. Huntington National Bank now owns 200 shares of the software maker’s stock valued at $46,000 after purchasing an additional 74 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in AppFolio in the 2nd quarter valued at about $52,000. Caitong International Asset Management Co. Ltd bought a new position in AppFolio in the 1st quarter valued at about $55,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in AppFolio by 23.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 384 shares of the software maker’s stock valued at $84,000 after buying an additional 73 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in shares of AppFolio during the 2nd quarter worth about $90,000. Institutional investors and hedge funds own 85.19% of the company’s stock.

AppFolio Price Performance

NASDAQ APPF opened at $228.62 on Friday. AppFolio, Inc. has a 12 month low of $190.24 and a 12 month high of $326.04. The company has a market capitalization of $8.21 billion, a P/E ratio of 41.04 and a beta of 0.83. The company’s 50 day simple moving average is $250.31 and its 200 day simple moving average is $247.97.

AppFolio (NASDAQ:APPF) last issued its earnings results 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). The business had revenue of $249.35 million for the quarter, compared to the consensus estimate of $245.39 million. AppFolio had a return on equity of 25.97% and a net margin of 22.48%.The company’s quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.29 earnings per share. AppFolio has set its FY 2025 guidance at EPS. On average, analysts anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Insider Buying and Selling at AppFolio

In related news, General Counsel Evan Pickering sold 334 shares of AppFolio stock in a transaction on Friday, November 14th. The stock was sold at an average price of $243.67, for a total value of $81,385.78. Following the transaction, the general counsel directly owned 2,969 shares in the company, valued at $723,456.23. The trade was a 10.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Matthew S. Mazza sold 1,636 shares of the business’s stock in a transaction on 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 in the company, valued at $6,928,654.70. This trade represents a 6.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 26,395 shares of company stock worth $7,025,125. 4.68% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on APPF. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of AppFolio in a research note on Thursday. KeyCorp dropped 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. DA Davidson reaffirmed a “buy” rating and set a $325.00 price target on shares of AppFolio in a research note on Wednesday. Keefe, Bruyette & Woods upgraded AppFolio from a “market perform” rating to an “outperform” rating and set a $311.00 price target on the stock in a research report on Friday, October 24th. Finally, Piper Sandler raised 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 research note on Friday, August 1st. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $310.20.

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.