Truist Financial Corp Has $895,000 Holdings in AppFolio, Inc. $APPF

Truist Financial Corp increased its holdings in AppFolio, Inc. (NASDAQ:APPF) by 7.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,885 shares of the software maker’s stock after buying an additional 253 shares during the period. Truist Financial Corp’s holdings in AppFolio were worth $895,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in APPF. Kayne Anderson Rudnick Investment Management LLC increased its stake in AppFolio by 84.4% in 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 during the last quarter. Principal Financial Group Inc. lifted its holdings in AppFolio by 121.2% in the first quarter. Principal Financial Group Inc. now owns 401,888 shares of the software maker’s stock valued at $88,375,000 after buying an additional 220,239 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in AppFolio by 4,272.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 172,972 shares of the software maker’s stock valued at $38,037,000 after buying an additional 169,016 shares during the period. Fiera Capital Corp bought a new position in shares of AppFolio during the 1st quarter worth about $35,896,000. Finally, Brown Advisory Inc. bought a new position in shares of AppFolio during the 1st quarter worth about $27,800,000. 85.19% of the stock is owned by institutional investors.

Insider Activity at AppFolio

In related news, CEO William Shane Trigg sold 4,000 shares of AppFolio 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 completion of 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 sale was disclosed in a legal filing 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 that occurred on 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 of the company’s stock, valued at $88,542,000. This represents a 0.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,803 shares of company stock valued at $16,938,949 in the last three months. Company insiders own 4.68% of the company’s stock.

Analyst Upgrades and Downgrades

APPF has been the topic of a number of analyst reports. DA Davidson restated a “buy” rating and issued a $350.00 target price on shares of AppFolio in a report on Friday, August 1st. Keefe, Bruyette & Woods lifted their price objective on shares of AppFolio from $295.00 to $311.00 and gave the company a “market perform” rating in a research note on Wednesday, September 3rd. Piper Sandler upgraded shares of AppFolio from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $240.00 to $350.00 in a research note on Friday, August 1st. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of AppFolio in a report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $311.80.

AppFolio Trading Up 0.2%

Shares of NASDAQ:APPF opened at $225.35 on Tuesday. AppFolio, Inc. has a 12 month low of $189.01 and a 12 month high of $326.04. The company has a market cap of $8.08 billion, a price-to-earnings ratio of 40.68 and a beta of 0.83. The company has a 50-day moving average price of $271.90 and a 200-day moving average price of $243.22.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, July 31st. The software maker reported $1.38 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $230.10 million. During the same period in the prior year, the firm earned $1.12 earnings per share. AppFolio’s revenue was up 19.4% on a year-over-year basis. AppFolio has set its FY 2025 guidance at EPS. As a group, research analysts forecast that AppFolio, Inc. will post 3.96 EPS for the current fiscal 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.