Zions Bancorporation National Association UT Raises Position in AppFolio, Inc. $APPF

Zions Bancorporation National Association UT lifted its holdings in shares of AppFolio, Inc. (NASDAQ:APPF) by 16.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,766 shares of the software maker’s stock after purchasing an additional 972 shares during the quarter. Zions Bancorporation National Association UT’s holdings in AppFolio were worth $1,558,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Kayne Anderson Rudnick Investment Management LLC lifted its position in AppFolio by 84.4% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 773,579 shares of the software maker’s stock worth $170,110,000 after buying an additional 354,061 shares during the period. William Blair Investment Management LLC grew its holdings in AppFolio by 73.6% in the 2nd quarter. William Blair Investment Management LLC now owns 733,428 shares of the software maker’s stock valued at $168,894,000 after buying an additional 310,834 shares during the period. Invesco Ltd. increased its stake in shares of AppFolio by 1.9% during the 1st quarter. Invesco Ltd. now owns 347,125 shares of the software maker’s stock valued at $76,333,000 after acquiring an additional 6,528 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in shares of AppFolio by 23.3% during the 1st quarter. New York State Common Retirement Fund now owns 225,472 shares of the software maker’s stock worth $49,581,000 after acquiring an additional 42,631 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of AppFolio by 6.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 221,812 shares of the software maker’s stock worth $51,079,000 after acquiring an additional 13,493 shares during the period. 85.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder Maurice J. Duca sold 1,200 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $275.71, for a total transaction of $330,852.00. Following the transaction, the insider directly owned 39,000 shares of the company’s stock, valued at approximately $10,752,690. The trade was a 2.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Matthew S. Mazza sold 1,636 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $276.98, for a total transaction of $453,139.28. Following the completion of 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 position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 27,803 shares of company stock valued at $7,672,263. 4.68% of the stock is owned by insiders.

AppFolio Stock Up 0.6%

AppFolio stock opened at $251.80 on Monday. The firm has a fifty day moving average of $258.37 and a 200-day moving average of $246.41. AppFolio, Inc. has a 52-week low of $190.24 and a 52-week high of $326.04. The firm has a market capitalization of $9.04 billion, a P/E ratio of 45.21 and a beta of 0.83.

AppFolio (NASDAQ:APPF) last announced its quarterly 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). AppFolio had a return on equity of 25.97% and a net margin of 22.48%.The business 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 earnings per share. The firm’s revenue for the quarter was up 21.2% on a year-over-year basis. AppFolio has set its FY 2025 guidance at EPS. On average, research analysts expect that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on APPF shares. DA Davidson lowered their target price on shares of AppFolio from $375.00 to $325.00 and set a “buy” rating for the company 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 objective for the company in a research note on Friday, October 24th. Weiss Ratings restated a “buy (b-)” rating on shares of AppFolio in a report on Wednesday, October 8th. Piper Sandler upgraded AppFolio from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $240.00 to $350.00 in a report on Friday, August 1st. Finally, KeyCorp lowered their price target on AppFolio from $285.00 to $270.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Seven research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $310.20.

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.