Edgestream Partners L.P. Purchases 33,331 Shares of AppFolio, Inc. $APPF

Edgestream Partners L.P. raised its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 90.6% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 70,110 shares of the software maker’s stock after buying an additional 33,331 shares during the period. AppFolio accounts for about 0.4% of Edgestream Partners L.P.’s investment portfolio, making the stock its 29th biggest holding. Edgestream Partners L.P.’s holdings in AppFolio were worth $11,065,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of APPF. EverSource Wealth Advisors LLC grew its position in shares of AppFolio by 101.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock worth $26,000 after buying an additional 56 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of AppFolio by 48.8% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker’s stock worth $53,000 after acquiring an additional 63 shares in the last quarter. Advisory Services Network LLC purchased a new stake in AppFolio during the third quarter valued at approximately $55,000. Employees Retirement System of Texas purchased a new stake in AppFolio during the third quarter valued at approximately $58,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in AppFolio during the third quarter valued at approximately $69,000. 85.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on APPF. Benchmark raised their target price on shares of AppFolio from $222.00 to $226.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Wall Street Zen downgraded AppFolio from a “buy” rating to a “hold” rating in a research report on Sunday. UBS Group set a $210.00 price objective on AppFolio in a report on Friday, April 24th. DA Davidson set a $225.00 price objective on AppFolio in a research report on Friday, July 24th. Finally, Piper Sandler dropped their target price on AppFolio from $245.00 to $210.00 and set an “overweight” rating on the stock in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, AppFolio has an average rating of “Buy” and an average price target of $243.50.

Key Headlines Impacting AppFolio

Here are the key news stories impacting AppFolio this week:

• Positive Sentiment: Zacks upgraded AppFolio to Rank #1 (Strong Buy), citing growing optimism around the company’s earnings prospects. The upgrade may be supporting renewed buying interest. AppFolio upgraded to Strong Buy
• Positive Sentiment: Zacks also characterized APPF as a solid growth stock, pointing to growth attributes that could support attractive long-term returns. AppFolio’s latest quarterly results showed revenue growth of 19.3% year over year, with earnings and revenue modestly exceeding consensus estimates. AppFolio growth stock analysis
• Positive Sentiment: Wall Street’s average price target implies approximately 25.5% potential upside from recent levels. While price targets are not guarantees, analysts’ positive earnings-estimate revisions provide an additional bullish signal. AppFolio analyst price target
• Positive Sentiment: APPF recently moved above its 20-day moving average, suggesting improving short-term momentum and helping reinforce the bullish trading narrative. AppFolio technical breakout
• Neutral Sentiment: Analyst coverage remains broadly favorable, with a consensus “Buy” rating and several targets above the current market level. However, one research firm recently downgraded the stock to “Hold,” while Piper Sandler lowered its target, highlighting valuation and execution risks.
• Negative Sentiment: Major shareholder Maurice Duca disclosed sales totaling 12,500 shares for roughly $2.27 million across July 17 and July 20. The transactions were made under a pre-arranged Rule 10b5-1 plan, which reduces their significance as a discretionary bearish signal, but insider selling can still weigh modestly on sentiment. AppFolio major shareholder share sales

Insider Buying and Selling

In other AppFolio news, CFO Timothy Mathias Eaton sold 2,585 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $160.07, for a total transaction of $413,780.95. Following the completion of the transaction, the chief financial officer directly owned 18,036 shares of the company’s stock, valued at approximately $2,887,022.52. This trade represents a 12.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Maurice J. Duca sold 200 shares of the company’s stock in a transaction on Monday, July 20th. The shares were sold at an average price of $180.00, for a total transaction of $36,000.00. Following the completion of the sale, the insider directly owned 81,480 shares in the company, valued at $14,666,400. This trade represents a 0.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 43,357 shares of company stock worth $7,614,340. 1.57% of the stock is owned by insiders.

AppFolio Stock Performance

Shares of APPF opened at $186.99 on Thursday. The stock has a 50-day moving average of $165.82 and a two-hundred day moving average of $172.41. The stock has a market cap of $6.61 billion, a P/E ratio of 42.69 and a beta of 0.79. AppFolio, Inc. has a one year low of $142.56 and a one year high of $326.04.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Thursday, July 23rd. The software maker reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.02. AppFolio had a return on equity of 32.42% and a net margin of 15.13%.The business had revenue of $281.12 million for the quarter, compared to analyst estimates of $277.35 million. During the same period in the prior year, the company earned $1.38 earnings per share. The company’s revenue was up 19.3% on a year-over-year basis. Analysts predict that AppFolio, Inc. will post 5.16 EPS for the current fiscal year.

About AppFolio

AppFolio, Inc is a Santa Barbara–based provider of cloud-based software solutions for the property management and legal industries. Founded in 2006 by former software executives, the company went public on the NASDAQ under the symbol APPF in 2015. Its original offering, AppFolio Property Manager, automates accounting, marketing, leasing, and maintenance functions for residential, commercial, student housing, and community association managers.

In 2019, AppFolio expanded its portfolio with the acquisition of MyCase, a web-based legal practice management platform for small to mid-size law firms.