State of Alaska Department of Revenue Sells 125 Shares of AppFolio, Inc. $APPF

State of Alaska Department of Revenue decreased its holdings in shares of AppFolio, Inc. (NASDAQ:APPF) by 4.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,595 shares of the software maker’s stock after selling 125 shares during the period. State of Alaska Department of Revenue’s holdings in AppFolio were worth $597,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of AppFolio by 84.4% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 773,579 shares of the software maker’s stock valued at $170,110,000 after acquiring an additional 354,061 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of AppFolio by 121.2% during the first quarter. Principal Financial Group Inc. now owns 401,888 shares of the software maker’s stock valued at $88,375,000 after acquiring an additional 220,239 shares in the last quarter. Invesco Ltd. increased its position in shares of AppFolio by 1.9% during the first quarter. Invesco Ltd. now owns 347,125 shares of the software maker’s stock valued at $76,333,000 after acquiring an additional 6,528 shares in the last quarter. New York State Common Retirement Fund increased its position in shares of AppFolio by 23.3% during the first quarter. New York State Common Retirement Fund now owns 225,472 shares of the software maker’s stock valued at $49,581,000 after acquiring an additional 42,631 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of AppFolio by 0.6% during the first quarter. Bank of New York Mellon Corp now owns 208,319 shares of the software maker’s stock valued at $45,809,000 after acquiring an additional 1,183 shares in the last quarter. Institutional investors own 85.19% of the company’s stock.

Insider Activity at AppFolio

In related news, major shareholder Maurice J. Duca sold 3,100 shares of AppFolio stock in a transaction on 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 in the company, valued at approximately $13,626,512. The trade was a 6.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William Shane Trigg sold 4,000 shares of the stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $276.95, for a total transaction of $1,107,800.00. Following the transaction, the chief executive officer directly owned 59,556 shares of the company’s stock, valued at $16,494,034.20. This trade represents a 6.29% 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 worth $16,938,949. 4.68% of the stock is owned by corporate insiders.

AppFolio Price Performance

Shares of AppFolio stock opened at $239.52 on Wednesday. The company’s fifty day simple moving average is $276.92 and its 200-day simple moving average is $242.97. The stock has a market capitalization of $8.59 billion, a PE ratio of 43.23 and a beta of 0.83. AppFolio, Inc. has a 1-year low of $189.01 and a 1-year high of $326.04.

AppFolio (NASDAQ:APPF) last released its earnings results 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 for the quarter, compared to analysts’ expectations of $230.10 million. During the same quarter in the previous year, the company earned $1.12 EPS. AppFolio’s revenue for the quarter was up 19.4% on a year-over-year basis. AppFolio has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that AppFolio, Inc. will post 3.96 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of AppFolio in a research report on Saturday, September 27th. Keefe, Bruyette & Woods raised their price target on shares of AppFolio from $295.00 to $311.00 and gave the company a “market perform” rating in a research report on Wednesday, September 3rd. Piper Sandler raised shares of 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 research report on Friday, August 1st. Finally, DA Davidson restated a “buy” rating and issued a $350.00 target price on shares of AppFolio in a report on Friday, August 1st. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $311.80.

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.