Delap Wealth Advisory LLC Invests $202,000 in AppFolio, Inc. $APPF

Delap Wealth Advisory LLC purchased a new position in AppFolio, Inc. (NASDAQ:APPF) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 876 shares of the software maker’s stock, valued at approximately $202,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of AppFolio by 84.4% in 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 in the last quarter. Principal Financial Group Inc. raised its stake in AppFolio by 121.2% during the first quarter. Principal Financial Group Inc. now owns 401,888 shares of the software maker’s stock worth $88,375,000 after purchasing an additional 220,239 shares during the period. Invesco Ltd. raised its stake in AppFolio by 1.9% during the first quarter. Invesco Ltd. now owns 347,125 shares of the software maker’s stock worth $76,333,000 after purchasing an additional 6,528 shares during the period. New York State Common Retirement Fund raised its stake in AppFolio by 23.3% during the first quarter. New York State Common Retirement Fund now owns 225,472 shares of the software maker’s stock worth $49,581,000 after purchasing an additional 42,631 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in AppFolio by 0.6% during the first quarter. Bank of New York Mellon Corp now owns 208,319 shares of the software maker’s stock worth $45,809,000 after purchasing an additional 1,183 shares during the period. 85.19% of the stock is owned by hedge funds and other institutional investors.

AppFolio Price Performance

Shares of APPF opened at $227.50 on Wednesday. AppFolio, Inc. has a 1-year low of $189.01 and a 1-year high of $326.04. The stock has a market cap of $8.16 billion, a PE ratio of 41.07 and a beta of 0.83. The firm has a 50-day simple moving average of $270.17 and a two-hundred day simple moving average of $243.11.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, July 31st. The software maker reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $230.10 million. During the same period last year, the business earned $1.12 earnings per share. The business’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 expect that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of AppFolio in a research note on Wednesday, October 8th. DA Davidson reaffirmed a “buy” rating and set a $350.00 target price on shares of AppFolio in a research note on Friday, August 1st. Piper Sandler raised shares of AppFolio from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $240.00 to $350.00 in a research note on Friday, August 1st. Finally, Keefe, Bruyette & Woods lifted their target price 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 investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $311.80.

Insider Activity at AppFolio

In related news, major shareholder Klaus Schauser sold 3,000 shares of AppFolio stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $295.14, for a total value of $885,420.00. Following the completion of the transaction, the insider owned 300,000 shares in the company, valued at approximately $88,542,000. The trade was a 0.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Maurice J. Duca sold 3,100 shares of AppFolio stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $321.38, for a total transaction of $996,278.00. Following the completion of the transaction, the insider owned 42,400 shares of the company’s stock, valued at $13,626,512. This trade represents a 6.81% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 58,803 shares of company stock worth $16,938,949. Corporate insiders own 4.68% of the company’s stock.

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.