Index Fund Advisors Inc. Acquires New Holdings in AppFolio, Inc. $APPF

Index Fund Advisors Inc. bought a new stake in AppFolio, Inc. (NASDAQ:APPF) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,373 shares of the software maker’s stock, valued at approximately $777,000.

Several other institutional investors also recently modified their holdings of APPF. Fifth Third Bancorp lifted its stake in shares of 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 acquired a new position in AppFolio in the 1st quarter worth about $55,000. Blue Trust Inc. raised its position in AppFolio by 330.2% in the first quarter. Blue Trust Inc. now owns 271 shares of the software maker’s stock valued at $60,000 after purchasing an additional 208 shares during the last quarter. GAMMA Investing LLC raised its position in AppFolio by 110.1% in the first quarter. GAMMA Investing LLC now owns 353 shares of the software maker’s stock valued at $78,000 after purchasing an additional 185 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of 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. 85.19% of the stock is currently owned by institutional investors and hedge funds.

AppFolio Stock Performance

NASDAQ:APPF opened at $224.87 on Monday. AppFolio, Inc. has a 52 week low of $189.01 and a 52 week high of $326.04. The firm’s fifty day moving average is $273.81 and its 200-day moving average is $243.19. The firm has a market cap of $8.06 billion, a P/E ratio of 40.59 and a beta of 0.83.

AppFolio (NASDAQ:APPF) last released its earnings results on Thursday, July 31st. The software maker reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.11. AppFolio had a net margin of 23.54% and a return on equity of 26.32%. The business had revenue of $235.58 million for the quarter, compared to analyst estimates of $230.10 million. During the same quarter in the previous year, the business earned $1.12 earnings per share. AppFolio’s revenue for the quarter 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 anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO William Shane Trigg sold 4,000 shares of AppFolio stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $276.95, for a total value of $1,107,800.00. Following the completion of the sale, the chief executive officer owned 59,556 shares in the company, valued at $16,494,034.20. The trade was a 6.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Klaus Schauser sold 3,000 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $295.14, for a total transaction of $885,420.00. Following the transaction, the insider directly owned 300,000 shares in the company, valued at approximately $88,542,000. This represents a 0.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,803 shares of company stock worth $16,938,949. Corporate insiders own 4.68% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on APPF shares. DA Davidson reaffirmed a “buy” rating and issued a $350.00 price objective on shares of AppFolio in a research note on Friday, August 1st. Piper Sandler upgraded shares of AppFolio from a “neutral” rating to an “overweight” rating and upped their price target for the company from $240.00 to $350.00 in a research report on Friday, August 1st. Weiss Ratings reiterated a “buy (b-)” rating on shares of AppFolio in a report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of AppFolio from $295.00 to $311.00 and gave the stock a “market perform” rating in a research note on Wednesday, September 3rd. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $311.80.

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.