AppFolio, Inc. $APPF Shares Acquired by Sei Investments Co.

Sei Investments Co. lifted its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 76.2% during the first quarter, Holdings Channel reports. The fund owned 70,495 shares of the software maker’s stock after acquiring an additional 30,488 shares during the period. Sei Investments Co.’s holdings in AppFolio were worth $11,126,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. M&T Bank Corp boosted its holdings in AppFolio by 1,643.8% in the fourth quarter. M&T Bank Corp now owns 96,153 shares of the software maker’s stock valued at $22,370,000 after purchasing an additional 90,639 shares during the period. Vanguard Group Inc. increased its holdings in AppFolio by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 2,560,460 shares of the software maker’s stock worth $595,691,000 after purchasing an additional 101,466 shares during the period. Riverbridge Partners LLC acquired a new stake in AppFolio in the 1st quarter valued at about $13,906,000. Quantum Capital Management LLC NJ acquired a new stake in AppFolio in the 4th quarter valued at about $7,995,000. Finally, SG Americas Securities LLC boosted its stake in shares of AppFolio by 666.2% in the 1st quarter. SG Americas Securities LLC now owns 25,185 shares of the software maker’s stock valued at $3,975,000 after buying an additional 21,898 shares during the period. 85.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on APPF shares. Guggenheim began coverage on AppFolio in a research report on Wednesday, July 22nd. They set a “buy” rating and a $232.00 price objective for the company. KeyCorp reaffirmed an “overweight” rating on shares of AppFolio in a report on Monday, July 6th. Piper Sandler decreased their price target on shares of AppFolio from $245.00 to $210.00 and set an “overweight” rating for the company in a research note on Friday, April 24th. Wall Street Zen cut shares of AppFolio from a “buy” rating to a “hold” rating in a report on Sunday, July 26th. Finally, Benchmark increased their price objective on shares of AppFolio from $222.00 to $226.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, AppFolio has an average rating of “Buy” and a consensus price target of $243.50.

AppFolio Stock Performance

NASDAQ:APPF opened at $180.19 on Friday. AppFolio, Inc. has a 1 year low of $142.56 and a 1 year high of $326.04. The stock has a market cap of $6.38 billion, a P/E ratio of 41.14 and a beta of 0.79. The stock has a 50-day simple moving average of $166.40 and a 200-day simple moving average of $172.11.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, July 23rd. The software maker reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.02. The business had revenue of $281.12 million for the quarter, compared to analyst estimates of $277.35 million. AppFolio had a return on equity of 32.42% and a net margin of 15.13%.The business’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter last year, the company earned $1.38 EPS. On average, equities research analysts predict that AppFolio, Inc. will post 5.16 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Timothy Mathias Eaton sold 2,585 shares of AppFolio stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $160.07, for a total transaction of $413,780.95. Following the sale, the chief financial officer owned 18,036 shares in the company, valued at approximately $2,887,022.52. The trade was a 12.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Maurice J. Duca sold 7,200 shares of AppFolio stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $180.32, for a total value of $1,298,304.00. Following the transaction, the insider directly owned 42,400 shares in the company, valued at approximately $7,645,568. This trade represents a 14.52% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 56,557 shares of company stock valued at $10,009,789. 1.57% of the stock is currently owned by insiders.

AppFolio News Roundup

Here are the key news stories impacting AppFolio this week:

• Positive Sentiment: Zacks upgrade: Zacks Research raised AppFolio from “Hold” to “Strong Buy,” which may attract momentum-oriented investors and strengthen confidence in the stock’s near-term outlook. Zacks upgrade
• Positive Sentiment: Strong momentum profile: Zacks highlighted AppFolio as a strong momentum stock based on its Style Scores. The coverage reinforces the stock’s recent price strength and could support additional buying interest. Why AppFolio is a Strong Momentum Stock
• Neutral Sentiment: Long-term performance spotlight: A retrospective article highlighting the substantial value created by a decade-long investment in AppFolio may reinforce the company’s long-term growth narrative, but it does not represent a new business development or earnings catalyst. AppFolio decade-long investment return
• Negative Sentiment: Major shareholder sales: Maurice J. Duca sold a combined 13,200 shares for roughly $2.40 million across July 28 and July 30. The sales reduce his holdings and could raise concerns about insider confidence, although all transactions were conducted under a pre-arranged Rule 10b5-1 plan, making them less bearish than discretionary selling. AppFolio SEC insider trading filing

AppFolio Company Profile

AppFolio, Inc is a Santa Barbara–based provider of cloud-based software solutions for the property management and legal industries. Founded in 2006 by former software executives, the company went public on the NASDAQ under the symbol APPF in 2015. Its original offering, AppFolio Property Manager, automates accounting, marketing, leasing, and maintenance functions for residential, commercial, student housing, and community association managers.

In 2019, AppFolio expanded its portfolio with the acquisition of MyCase, a web-based legal practice management platform for small to mid-size law firms.