Geode Capital Management LLC Purchases 1,458 Shares of AppFolio, Inc. $APPF

Geode Capital Management LLC lifted its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 0.3% during the 2nd quarter, Holdings Channel reports. The firm owned 438,522 shares of the software maker’s stock after purchasing an additional 1,458 shares during the quarter. Geode Capital Management LLC’s holdings in AppFolio were worth $100,999,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of APPF. ProShare Advisors LLC increased its position in AppFolio by 3.6% during the second quarter. ProShare Advisors LLC now owns 1,078 shares of the software maker’s stock worth $248,000 after buying an additional 37 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its stake in shares of AppFolio by 0.5% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 9,041 shares of the software maker’s stock worth $2,082,000 after acquiring an additional 44 shares during the period. Woodline Partners LP increased its holdings in shares of AppFolio by 2.9% during the 1st quarter. Woodline Partners LP now owns 1,754 shares of the software maker’s stock worth $386,000 after acquiring an additional 50 shares during the last quarter. Somerset Trust Co raised its stake in AppFolio by 6.7% in the 2nd quarter. Somerset Trust Co now owns 1,105 shares of the software maker’s stock valued at $254,000 after acquiring an additional 69 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings 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 purchasing an additional 73 shares during the last quarter. 85.19% of the stock is currently owned by institutional investors and hedge funds.

AppFolio Stock Down 0.2%

Shares of APPF opened at $221.31 on Friday. The stock has a market cap of $7.95 billion, a PE ratio of 39.73 and a beta of 0.83. AppFolio, Inc. has a 12-month low of $190.24 and a 12-month high of $326.04. The business has a 50-day simple moving average of $251.26 and a two-hundred day simple moving average of $247.87.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, October 30th. The software maker reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 22.48% and a return on equity of 25.97%. AppFolio’s revenue was up 21.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.29 EPS. AppFolio has set its FY 2025 guidance at EPS. On average, equities research analysts expect that AppFolio, Inc. will post 3.96 EPS for the current year.

Insider Activity

In related 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 transaction of $1,107,800.00. Following the completion of the transaction, the chief executive officer owned 59,556 shares of the company’s stock, valued at $16,494,034.20. This trade represents a 6.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Janet Kerr sold 2,500 shares of the business’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $285.04, for a total transaction of $712,600.00. Following the completion of the transaction, the director owned 11,995 shares in the company, valued at approximately $3,419,054.80. The trade was a 17.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 26,395 shares of company stock worth $7,025,125 in the last 90 days. 4.68% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Weiss Ratings downgraded shares of AppFolio from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, November 14th. DA Davidson reiterated a “buy” rating and issued a $325.00 price target on shares of AppFolio in a research note on Wednesday. KeyCorp lowered their price target 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. Keefe, Bruyette & Woods upgraded AppFolio from a “market perform” rating to an “outperform” rating and set a $311.00 price objective for the company in a report on Friday, October 24th. Finally, Piper Sandler raised AppFolio from a “neutral” rating to an “overweight” rating and upped their target price for the company from $240.00 to $350.00 in a research report on Friday, August 1st. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, AppFolio has a consensus rating of “Moderate Buy” and an average price target of $310.20.

AppFolio 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.