American Century Companies Inc. Reduces Position in AppFolio, Inc. $APPF

American Century Companies Inc. reduced its stake in AppFolio, Inc. (NASDAQ:APPF) by 13.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,079 shares of the software maker’s stock after selling 614 shares during the quarter. American Century Companies Inc.’s holdings in AppFolio were worth $897,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Colonial Trust Co SC purchased a new position in shares of AppFolio in the 4th quarter valued at approximately $28,000. Fifth Third Bancorp grew its stake in shares of AppFolio by 53.0% in the 1st quarter. Fifth Third Bancorp now owns 179 shares of the software maker’s stock valued at $39,000 after purchasing an additional 62 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of AppFolio by 4,975.0% in the 1st quarter. Versant Capital Management Inc now owns 203 shares of the software maker’s stock valued at $45,000 after purchasing an additional 199 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of AppFolio in the 1st quarter valued at approximately $55,000. Finally, Blue Trust Inc. grew its stake in shares of AppFolio by 330.2% in the 1st quarter. Blue Trust Inc. now owns 271 shares of the software maker’s stock valued at $60,000 after purchasing an additional 208 shares during the last quarter. 85.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on APPF shares. DA Davidson reissued a “buy” rating and issued a $350.00 price target on shares of AppFolio in a report on Friday, August 1st. Piper Sandler raised AppFolio from a “neutral” rating to an “overweight” rating and raised their price target for the company from $240.00 to $350.00 in a report on Friday, August 1st. Finally, Keefe, Bruyette & Woods raised their price target on AppFolio from $295.00 to $311.00 and gave the company a “market perform” rating in a report on Wednesday. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $311.80.

Insider Activity

In other news, CFO Timothy Mathias Eaton sold 667 shares of AppFolio stock in a transaction on Monday, August 25th. The stock was sold at an average price of $276.58, for a total value of $184,478.86. Following the completion of the sale, the chief financial officer owned 11,142 shares of the company’s stock, valued at $3,081,654.36. The trade was a 5.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Maurice J. Duca sold 2,500 shares of AppFolio stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $275.57, for a total value of $688,925.00. Following the completion of the sale, the insider directly owned 55,795 shares of the company’s stock, valued at approximately $15,375,428.15. This represents a 4.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 53,985 shares of company stock valued at $15,348,953 over the last quarter. Company insiders own 4.68% of the company’s stock.

AppFolio Stock Performance

Shares of APPF stock opened at $279.24 on Friday. The stock has a fifty day moving average price of $264.41 and a 200 day moving average price of $233.56. The stock has a market cap of $10.01 billion, a PE ratio of 50.40 and a beta of 0.89. AppFolio, Inc. has a 1 year low of $189.01 and a 1 year high of $326.04.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Thursday, July 31st. The software maker reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.11. The firm had revenue of $235.58 million during the quarter, compared to analysts’ expectations of $230.10 million. AppFolio had a return on equity of 26.32% and a net margin of 23.54%.AppFolio’s revenue was up 19.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.12 earnings per share. AppFolio has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current year.

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.