AppFolio, Inc. $APPF Shares Acquired by Sei Investments Co.

Sei Investments Co. lifted its holdings in AppFolio, Inc. (NASDAQ:APPF) by 76.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 70,495 shares of the software maker’s stock after acquiring an additional 30,488 shares during the quarter. Sei Investments Co. owned 0.20% of AppFolio worth $11,126,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. M&T Bank Corp boosted its holdings in AppFolio by 1,643.8% in the fourth quarter. M&T Bank Corp now owns 96,153 shares of the software maker’s stock valued at $22,370,000 after purchasing an additional 90,639 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of AppFolio by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 2,560,460 shares of the software maker’s stock valued at $595,691,000 after purchasing an additional 101,466 shares in the last quarter. Riverbridge Partners LLC purchased a new position in AppFolio in the first quarter valued at $13,906,000. Quantum Capital Management LLC NJ purchased a new position in shares of AppFolio in the 4th quarter valued at about $7,995,000. Finally, SG Americas Securities LLC increased its position in shares of AppFolio by 666.2% in the first quarter. SG Americas Securities LLC now owns 25,185 shares of the software maker’s stock valued at $3,975,000 after buying an additional 21,898 shares in the last quarter. Hedge funds and other institutional investors own 85.19% of the company’s stock.

Insider Activity at AppFolio

In other AppFolio news, CFO Timothy Mathias Eaton sold 2,585 shares of AppFolio stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $160.07, for a total value 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 $2,887,022.52. The trade was a 12.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Maurice J. Duca sold 7,200 shares of the business’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $180.32, for a total transaction of $1,298,304.00. Following the sale, the insider owned 42,400 shares in the company, valued at $7,645,568. This trade represents a 14.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 56,557 shares of company stock worth $10,009,789 in the last three months. 1.57% of the stock is owned by company insiders.

Key AppFolio News

Here are the key news stories impacting AppFolio this week:

• Positive Sentiment: Zacks upgrade: Zacks Research raised AppFolio from “Hold” to “Strong Buy,” which may attract momentum-oriented investors and strengthen confidence in the stock’s near-term outlook. Zacks upgrade
• Positive Sentiment: Strong momentum profile: Zacks highlighted AppFolio as a strong momentum stock based on its Style Scores. The coverage reinforces the stock’s recent price strength and could support additional buying interest. Why AppFolio is a Strong Momentum Stock
• Neutral Sentiment: Long-term performance spotlight: A retrospective article highlighting the substantial value created by a decade-long investment in AppFolio may reinforce the company’s long-term growth narrative, but it does not represent a new business development or earnings catalyst. AppFolio decade-long investment return
• Negative Sentiment: Major shareholder sales: Maurice J. Duca sold a combined 13,200 shares for roughly $2.40 million across July 28 and July 30. The sales reduce his holdings and could raise concerns about insider confidence, although all transactions were conducted under a pre-arranged Rule 10b5-1 plan, making them less bearish than discretionary selling. AppFolio SEC insider trading filing

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on APPF shares. Wall Street Zen downgraded shares of AppFolio from a “buy” rating to a “hold” rating in a research report on Sunday, July 26th. Weiss Ratings downgraded AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. UBS Group set a $210.00 price objective on shares of AppFolio in a research report on Friday, April 24th. Benchmark lifted their target price on shares of AppFolio from $222.00 to $226.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Finally, KeyCorp reiterated an “overweight” rating on shares of AppFolio in a report on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, AppFolio presently has a consensus rating of “Buy” and an average target price of $243.50.

AppFolio Stock Up 2.4%

NASDAQ:APPF opened at $180.19 on Friday. AppFolio, Inc. has a 52 week low of $142.56 and a 52 week high of $326.04. The stock’s fifty day moving average is $166.40 and its two-hundred day moving average is $172.11. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of 41.14 and a beta of 0.79.

AppFolio (NASDAQ:APPF) last issued 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. The business had revenue of $281.12 million during the quarter, compared to analysts’ expectations of $277.35 million. AppFolio had a return on equity of 32.42% and a net margin of 15.13%.The company’s revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.38 earnings per share. On average, sell-side analysts expect that AppFolio, Inc. will post 5.16 EPS for the current fiscal year.

AppFolio Company Profile

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.