Envestnet Portfolio Solutions Inc. Has $1.30 Million Stake in AppFolio, Inc. $APPF

Envestnet Portfolio Solutions Inc. lifted its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 195.3% during the second quarter, Holdings Channel.com reports. The firm owned 5,634 shares of the software maker’s stock after buying an additional 3,726 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in AppFolio were worth $1,297,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Fifth Third Bancorp lifted its position in shares of AppFolio by 53.0% during the first quarter. Fifth Third Bancorp now owns 179 shares of the software maker’s stock worth $39,000 after purchasing an additional 62 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of AppFolio during the first quarter worth approximately $55,000. Blue Trust Inc. lifted its position in shares of AppFolio by 330.2% during the first quarter. Blue Trust Inc. now owns 271 shares of the software maker’s stock worth $60,000 after purchasing an additional 208 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of AppFolio by 110.1% during the first quarter. GAMMA Investing LLC now owns 353 shares of the software maker’s stock worth $78,000 after purchasing an additional 185 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position 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 worth $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

Shares of NASDAQ:APPF opened at $235.51 on Friday. AppFolio, Inc. has a 52 week low of $189.01 and a 52 week high of $326.04. The company has a market capitalization of $8.44 billion, a PE ratio of 42.51 and a beta of 0.83. The company has a 50 day moving average price of $266.00 and a two-hundred day moving average price of $243.23.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, July 31st. The software maker reported $1.38 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 firm had revenue of $235.58 million during the quarter, compared to the consensus estimate of $230.10 million. During the same quarter in the prior year, the firm earned $1.12 earnings per share. The business’s quarterly revenue was up 19.4% on a year-over-year basis. AppFolio has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Insider Transactions at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 4,000 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $16,494,034.20. This represents a 6.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Matthew S. Mazza sold 1,636 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $276.98, for a total transaction of $453,139.28. Following the sale, the insider directly owned 25,015 shares of the company’s stock, valued at $6,928,654.70. This represents a 6.14% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,803 shares of company stock valued at $16,938,949. Corporate insiders own 4.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on APPF. Weiss Ratings reiterated a “buy (b-)” rating on shares of AppFolio in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods increased their price objective on shares of AppFolio from $295.00 to $311.00 and gave the company a “market perform” rating in a report on Wednesday, September 3rd. KeyCorp upgraded shares of AppFolio from a “sector weight” rating to an “overweight” rating and set a $285.00 price objective on the stock in a report on Friday. DA Davidson restated a “buy” rating and issued a $350.00 price objective on shares of AppFolio in a report on Friday, August 1st. Finally, Piper Sandler upgraded shares of AppFolio from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $240.00 to $350.00 in a 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, AppFolio has a consensus rating of “Moderate Buy” and a consensus price target of $318.20.

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.