Parallel Advisors LLC Trims Stake in AppFolio, Inc. $APPF

Parallel Advisors LLC reduced its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 12.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 912 shares of the software maker’s stock after selling 131 shares during the period. Parallel Advisors LLC’s holdings in AppFolio were worth $210,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in APPF. Kayne Anderson Rudnick Investment Management LLC lifted its holdings 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 acquiring an additional 354,061 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of AppFolio by 121.2% during the 1st quarter. Principal Financial Group Inc. now owns 401,888 shares of the software maker’s stock worth $88,375,000 after acquiring an additional 220,239 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of AppFolio by 1.9% during the 1st 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 during the last quarter. New York State Common Retirement Fund lifted its holdings in shares of AppFolio by 23.3% during the 1st quarter. New York State Common Retirement Fund now owns 225,472 shares of the software maker’s stock worth $49,581,000 after acquiring an additional 42,631 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of AppFolio by 0.6% during the 1st quarter. Bank of New York Mellon Corp now owns 208,319 shares of the software maker’s stock worth $45,809,000 after acquiring an additional 1,183 shares during the last quarter. 85.19% of the stock is currently owned by hedge funds and other institutional investors.

AppFolio Price Performance

Shares of APPF opened at $285.18 on Tuesday. AppFolio, Inc. has a 1-year low of $189.01 and a 1-year high of $326.04. The company has a 50-day moving average of $274.78 and a 200 day moving average of $239.25. The firm has a market capitalization of $10.22 billion, a price-to-earnings ratio of 51.48 and a beta of 0.89.

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

Insider Buying and Selling at AppFolio

In other AppFolio news, major shareholder Maurice J. Duca sold 3,100 shares of the firm’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $321.38, for a total transaction of $996,278.00. Following the transaction, the insider owned 42,400 shares of the company’s stock, valued at approximately $13,626,512. This trade represents a 6.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Klaus Schauser sold 3,000 shares of the firm’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $295.14, for a total transaction of $885,420.00. Following the transaction, the insider directly owned 300,000 shares in the company, valued at $88,542,000. This trade represents a 0.99% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,803 shares of company stock valued at $16,938,949. Company insiders own 4.68% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Keefe, Bruyette & Woods boosted their price target on shares of AppFolio from $295.00 to $311.00 and gave the stock a “market perform” rating in a research note on Wednesday, September 3rd. DA Davidson restated a “buy” rating and issued a $350.00 price objective on shares of AppFolio in a report on Friday, August 1st. Finally, Piper Sandler upgraded shares of AppFolio from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $240.00 to $350.00 in a research note on Friday, August 1st. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $311.80.

AppFolio Company 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.