Jupiter Asset Management Ltd. Has $6.62 Million Stake in AppFolio, Inc. $APPF

Jupiter Asset Management Ltd. raised its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 135.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,760 shares of the software maker’s stock after purchasing an additional 16,521 shares during the period. Jupiter Asset Management Ltd. owned 0.08% of AppFolio worth $6,623,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of AppFolio by 84.4% during 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 acquiring an additional 354,061 shares during the last quarter. William Blair Investment Management LLC increased its position in AppFolio by 73.6% during the 2nd quarter. William Blair Investment Management LLC now owns 733,428 shares of the software maker’s stock valued at $168,894,000 after purchasing an additional 310,834 shares during the period. Invesco Ltd. increased its position in AppFolio by 1.9% during the 1st quarter. Invesco Ltd. now owns 347,125 shares of the software maker’s stock valued at $76,333,000 after purchasing an additional 6,528 shares during the period. Bank of New York Mellon Corp raised its holdings in AppFolio by 6.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 221,812 shares of the software maker’s stock worth $51,079,000 after purchasing an additional 13,493 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of AppFolio by 0.8% in the 1st quarter. Northern Trust Corp now owns 193,780 shares of the software maker’s stock worth $42,612,000 after purchasing an additional 1,493 shares during the period. Institutional investors own 85.19% of the company’s stock.

AppFolio Price Performance

APPF stock opened at $246.50 on Friday. The company’s 50-day moving average is $256.30 and its 200-day moving average is $246.98. The stock has a market capitalization of $8.85 billion, a PE ratio of 44.25 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 announced its quarterly earnings results 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). AppFolio had a return on equity of 25.97% and a net margin of 22.48%.The firm had revenue of $249.35 million during the quarter, compared to the consensus estimate of $245.39 million. During the same quarter in the previous year, the company posted $1.29 EPS. The firm’s revenue was up 21.2% on a year-over-year basis. AppFolio has set its FY 2025 guidance at EPS. On average, analysts anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. KeyCorp decreased their price objective on shares of AppFolio from $285.00 to $270.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Piper Sandler raised shares of AppFolio from a “neutral” rating to an “overweight” rating and upped their price target for the company from $240.00 to $350.00 in a research report on Friday, August 1st. Keefe, Bruyette & Woods raised AppFolio from a “market perform” rating to an “outperform” rating and set a $311.00 price objective for the company in a research report on Friday, October 24th. DA Davidson dropped their price objective on AppFolio from $375.00 to $325.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of AppFolio in a research note on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $310.20.

Insider Transactions at AppFolio

In related news, CEO William Shane Trigg sold 4,000 shares of AppFolio stock in a transaction 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 trade represents a 6.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Janet Kerr sold 2,500 shares of the company’s stock in a transaction 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 transaction, the director owned 11,995 shares in the company, valued at approximately $3,419,054.80. The trade was a 17.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 22,467 shares of company stock valued at $6,230,860 in the last 90 days. 4.68% of the stock is currently owned by company insiders.

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.