AppFolio, Inc. $APPF Shares Acquired by Zions Bancorporation National Association UT

Zions Bancorporation National Association UT boosted its position in AppFolio, Inc. (NASDAQ:APPF) by 16.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,766 shares of the software maker’s stock after purchasing an additional 972 shares during the period. Zions Bancorporation National Association UT’s holdings in AppFolio were worth $1,558,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in APPF. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of AppFolio by 84.4% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 773,579 shares of the software maker’s stock worth $170,110,000 after buying an additional 354,061 shares in the last quarter. William Blair Investment Management LLC grew its holdings in AppFolio by 73.6% during the second quarter. William Blair Investment Management LLC now owns 733,428 shares of the software maker’s stock worth $168,894,000 after acquiring an additional 310,834 shares during the period. Invesco Ltd. raised its position in AppFolio by 1.9% in the first quarter. Invesco Ltd. now owns 347,125 shares of the software maker’s stock worth $76,333,000 after acquiring an additional 6,528 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in AppFolio by 23.3% in the first quarter. New York State Common Retirement Fund now owns 225,472 shares of the software maker’s stock valued at $49,581,000 after acquiring an additional 42,631 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 85.19% of the company’s stock.

AppFolio Price Performance

APPF stock opened at $251.80 on Monday. The company’s 50 day simple moving average is $258.37 and its 200-day simple moving average is $246.41. AppFolio, Inc. has a 12 month low of $190.24 and a 12 month high of $326.04. The firm has a market capitalization of $9.04 billion, a PE ratio of 45.21 and a beta of 0.83.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, October 30th. The software maker reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.14). The company had revenue of $249.35 million during the quarter, compared to analysts’ expectations of $245.39 million. AppFolio had a net margin of 22.48% and a return on equity of 25.97%. AppFolio’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.29 EPS. AppFolio has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on APPF shares. KeyCorp cut their price target on shares of AppFolio from $285.00 to $270.00 and set an “overweight” rating for the company in a report on Friday, October 31st. DA Davidson dropped their target price on shares of AppFolio from $375.00 to $325.00 and set a “buy” rating for the company in a report on Friday, October 31st. Weiss Ratings reissued a “buy (b-)” rating on shares of AppFolio in a research note on Wednesday, October 8th. Piper Sandler upgraded AppFolio from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $240.00 to $350.00 in a report on Friday, August 1st. Finally, 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 report on Friday, October 24th. Seven investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $310.20.

Insiders Place Their Bets

In related news, CFO Timothy Mathias Eaton sold 667 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $276.58, for a total transaction of $184,478.86. Following the sale, the chief financial officer owned 11,142 shares of the company’s stock, valued at $3,081,654.36. This trade represents a 5.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William Shane Trigg sold 4,000 shares of the business’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $276.95, for a total transaction of $1,107,800.00. Following the completion of the transaction, the chief executive officer directly owned 59,556 shares of the company’s stock, valued at $16,494,034.20. The trade was a 6.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 27,803 shares of company stock valued at $7,672,263. Insiders own 4.68% of the company’s stock.

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.