VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $2.22 Million Investment in AppFolio, Inc. $APPF

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in AppFolio, Inc. (NASDAQ:APPF) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,621 shares of the software maker’s stock, valued at approximately $2,216,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Woodline Partners LP boosted its stake in AppFolio by 2.9% in the first quarter. Woodline Partners LP now owns 1,754 shares of the software maker’s stock worth $386,000 after purchasing an additional 50 shares in the last quarter. Somerset Trust Co boosted its stake in AppFolio by 6.7% in the second quarter. Somerset Trust Co now owns 1,105 shares of the software maker’s stock worth $254,000 after purchasing an additional 69 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 acquiring an additional 73 shares during the last quarter. Deutsche Bank AG raised its position in shares of AppFolio by 3.3% during the first quarter. Deutsche Bank AG now owns 2,362 shares of the software maker’s stock worth $519,000 after acquiring an additional 75 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in shares of AppFolio by 3.2% during the first quarter. State of Alaska Department of Revenue now owns 2,720 shares of the software maker’s stock worth $598,000 after acquiring an additional 85 shares during the last quarter. Institutional investors and hedge funds own 85.19% of the company’s stock.

AppFolio Trading Down 0.0%

NASDAQ APPF opened at $240.31 on Wednesday. The stock has a 50-day simple moving average of $264.54 and a 200 day simple moving average of $243.51. The company has a market capitalization of $8.62 billion, a PE ratio of 43.38 and a beta of 0.83. AppFolio, Inc. has a 12 month low of $189.01 and a 12 month high of $326.04.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Thursday, July 31st. The software maker reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.11. The business had revenue of $235.58 million during the quarter, compared to the consensus estimate of $230.10 million. AppFolio had a return on equity of 26.32% and a net margin of 23.54%.The firm’s revenue was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.12 earnings per share. AppFolio has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Weiss Ratings restated a “buy (b-)” rating on shares of AppFolio in a research report on Wednesday, October 8th. Piper Sandler upgraded 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. DA Davidson restated a “buy” rating and set a $350.00 target price on shares of AppFolio in a research report on Friday, August 1st. Keefe, Bruyette & Woods boosted their target price on AppFolio from $295.00 to $311.00 and gave the stock a “market perform” rating in a research report on Wednesday, September 3rd. Finally, KeyCorp upgraded AppFolio from a “sector weight” rating to an “overweight” rating and set a $285.00 price objective for the company in a report on Friday, October 17th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $318.20.

Insider Buying and Selling

In other AppFolio news, insider Matthew S. Mazza sold 1,636 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were 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 in the company, valued at approximately $6,928,654.70. This trade represents a 6.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Janet Kerr sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $285.04, for a total transaction of $712,600.00. Following the sale, the director owned 11,995 shares in the company, valued at $3,419,054.80. This trade represents a 17.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,803 shares of company stock valued at $16,938,949. 4.68% of the stock is owned by company insiders.

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.