AppFolio, Inc. $APPF Shares Sold by Mission Wealth Management LP

Mission Wealth Management LP reduced its stake in AppFolio, Inc. (NASDAQ:APPF) by 21.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,159 shares of the software maker’s stock after selling 11,280 shares during the period. Mission Wealth Management LP owned approximately 0.12% of AppFolio worth $9,708,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of APPF. Kayne Anderson Rudnick Investment Management LLC raised 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 valued at $170,110,000 after acquiring an additional 354,061 shares in the last quarter. William Blair Investment Management LLC raised its stake in shares of AppFolio by 73.6% in the second quarter. William Blair Investment Management LLC now owns 733,428 shares of the software maker’s stock valued at $168,894,000 after acquiring an additional 310,834 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of AppFolio by 121.2% in the first quarter. Principal Financial Group Inc. now owns 401,888 shares of the software maker’s stock valued at $88,375,000 after acquiring an additional 220,239 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of AppFolio by 4,272.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 172,972 shares of the software maker’s stock valued at $38,037,000 after acquiring an additional 169,016 shares in the last quarter. Finally, Fiera Capital Corp purchased a new position in AppFolio in the first quarter valued at $35,896,000. 85.19% of the stock is currently owned by institutional investors and hedge funds.

AppFolio Stock Performance

Shares of APPF stock opened at $254.43 on Friday. The stock’s 50-day moving average is $260.29 and its two-hundred day moving average is $244.89. The firm has a market cap of $9.12 billion, a price-to-earnings ratio of 45.68 and a beta of 0.83. AppFolio, Inc. has a 1 year low of $190.24 and a 1 year high of $326.04.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data 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 firm had revenue of $249.35 million for the quarter, compared to analysts’ expectations of $245.39 million. AppFolio had a return on equity of 26.24% and a net margin of 22.48%.The business’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.29 EPS. AppFolio has set its FY 2025 guidance at EPS. As a group, research analysts predict that AppFolio, Inc. will post 3.96 EPS for the current year.

Insider Activity

In other AppFolio news, CEO William Shane Trigg sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $276.95, for a total transaction of $1,107,800.00. Following the transaction, the chief executive officer owned 59,556 shares of the company’s stock, valued at approximately $16,494,034.20. This trade represents a 6.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Maurice J. Duca sold 3,100 shares of the firm’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $321.38, for a total value of $996,278.00. Following the transaction, the insider directly owned 42,400 shares in the company, valued at approximately $13,626,512. The trade was a 6.81% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 50,203 shares of company stock worth $14,382,536. Corporate insiders own 4.68% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on APPF. Keefe, Bruyette & Woods raised AppFolio from a “market perform” rating to an “outperform” rating and set a $311.00 target price on the stock in a report on Friday, October 24th. DA Davidson dropped their target price on AppFolio from $375.00 to $325.00 and set a “buy” rating on the stock in a report on Friday. KeyCorp dropped their target price on AppFolio from $285.00 to $270.00 and set an “overweight” rating on the stock in a report on Friday. Piper Sandler raised AppFolio from a “neutral” rating to an “overweight” rating and increased their target price for the company from $240.00 to $350.00 in a report on Friday, August 1st. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of AppFolio in a report on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, AppFolio presently has a consensus rating of “Buy” and an average target price of $310.20.

AppFolio Company 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.