Oberndorf William E Increases Stock Holdings in AppFolio, Inc. $APPF

Oberndorf William E increased its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 514.0% during the first quarter, HoldingsChannel reports. The fund owned 24,184 shares of the software maker’s stock after acquiring an additional 20,245 shares during the quarter. AppFolio makes up about 6.8% of Oberndorf William E’s portfolio, making the stock its 7th biggest holding. Oberndorf William E’s holdings in AppFolio were worth $5,318,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Colonial Trust Co SC bought a new position in AppFolio during the fourth quarter worth $28,000. Fifth Third Bancorp increased its position in 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 acquiring an additional 62 shares during the period. Versant Capital Management Inc increased its position in AppFolio by 4,975.0% during the first quarter. Versant Capital Management Inc now owns 203 shares of the software maker’s stock worth $45,000 after acquiring an additional 199 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in AppFolio during the first quarter worth $55,000. Finally, Blue Trust Inc. increased its position in 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 acquiring an additional 208 shares during the period. Institutional investors own 85.19% of the company’s stock.

Insider Activity at AppFolio

In other news, major shareholder Maurice J. Duca sold 2,324 shares of the business’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $276.80, for a total value of $643,283.20. Following the sale, the insider owned 35,376 shares in the company, valued at approximately $9,792,076.80. The trade was a 6.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have acquired 18,500 shares of company stock valued at $4,024,220 and have sold 38,006 shares valued at $10,976,482. Corporate insiders own 4.68% of the company’s stock.

AppFolio Price Performance

APPF opened at $269.10 on Tuesday. AppFolio, Inc. has a fifty-two week low of $189.01 and a fifty-two week high of $326.04. The firm’s fifty day moving average price is $252.04 and its two-hundred day moving average price is $229.05. The company has a market capitalization of $9.65 billion, a P/E ratio of 48.57 and a beta of 0.95.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, July 31st. The software maker reported $1.38 earnings per share for the quarter, topping 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 firm had revenue of $235.58 million for the quarter, compared to the consensus estimate of $230.10 million. During the same quarter in the previous year, the company earned $1.12 earnings per share. The business’s revenue was up 19.4% compared to the same quarter last year. On average, equities research analysts expect that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on APPF. Piper Sandler raised shares of AppFolio from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $240.00 to $350.00 in a research report on Friday, August 1st. Keefe, Bruyette & Woods upgraded shares of AppFolio from an “underperform” rating to a “market perform” rating and lifted their price target for the stock from $205.00 to $267.00 in a research note on Thursday, July 31st. Finally, DA Davidson reiterated a “buy” rating and set a $350.00 price target on shares of AppFolio in a research note on Friday, August 1st. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $303.00.

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.