Raymond James Financial Inc. Sells 30,670 Shares of AppFolio, Inc. $APPF

Raymond James Financial Inc. reduced its holdings in shares of AppFolio, Inc. (NASDAQ:APPF) by 25.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 91,715 shares of the software maker’s stock after selling 30,670 shares during the quarter. Raymond James Financial Inc. owned approximately 0.25% of AppFolio worth $20,168,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of APPF. Mariner LLC lifted its holdings in AppFolio by 9.0% during the fourth quarter. Mariner LLC now owns 2,107 shares of the software maker’s stock worth $520,000 after acquiring an additional 174 shares during the period. Dimensional Fund Advisors LP lifted its holdings in AppFolio by 45.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 189,405 shares of the software maker’s stock worth $46,731,000 after acquiring an additional 59,279 shares during the period. State of Tennessee Department of Treasury lifted its holdings in AppFolio by 78.5% during the fourth quarter. State of Tennessee Department of Treasury now owns 8,923 shares of the software maker’s stock worth $2,201,000 after acquiring an additional 3,923 shares during the period. Hsbc Holdings PLC bought a new stake in AppFolio during the fourth quarter worth $557,000. Finally, Northern Trust Corp lifted its holdings in AppFolio by 17.4% during the fourth quarter. Northern Trust Corp now owns 192,287 shares of the software maker’s stock worth $47,441,000 after acquiring an additional 28,516 shares during the period. 85.19% of the stock is currently owned by institutional investors.

AppFolio Price Performance

Shares of APPF opened at $273.73 on Wednesday. The firm has a market cap of $9.81 billion, a PE ratio of 49.41 and a beta of 0.95. The stock’s fifty day moving average price is $257.52 and its two-hundred day moving average price is $230.80. AppFolio, Inc. has a 1 year low of $189.01 and a 1 year high of $326.04.

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

Insiders Place Their Bets

In related news, CEO William Shane Trigg sold 3,012 shares of the business’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $264.98, for a total transaction of $798,119.76. Following the sale, the chief executive officer directly owned 63,556 shares in the company, valued at approximately $16,841,068.88. The trade was a 4.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Maurice J. Duca sold 2,500 shares of the business’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $275.57, for a total value of $688,925.00. Following the sale, the insider owned 60,795 shares in the company, valued at approximately $16,753,278.15. The trade was a 3.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 18,500 shares of company stock worth $4,024,220 and have sold 49,618 shares worth $14,144,697. Insiders own 4.68% of the company’s stock.

Wall Street Analysts Forecast Growth

APPF has been the topic of a number of recent analyst reports. DA Davidson reiterated a “buy” rating and set a $350.00 price target on shares of AppFolio in a report on Friday, August 1st. Keefe, Bruyette & Woods upgraded AppFolio from an “underperform” rating to a “market perform” rating and boosted their target price for the company from $205.00 to $267.00 in a research note on Thursday, July 31st. Finally, Piper Sandler upgraded AppFolio from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $240.00 to $350.00 in a research note on Friday, August 1st. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, AppFolio currently has an average rating of “Moderate Buy” and an average target price of $303.00.

About AppFolio

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.