Janney Montgomery Scott LLC Reduces Position in AppFolio, Inc. $APPF

Janney Montgomery Scott LLC lowered its position in AppFolio, Inc. (NASDAQ:APPF) by 18.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,134 shares of the software maker’s stock after selling 255 shares during the quarter. Janney Montgomery Scott LLC’s holdings in AppFolio were worth $261,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Woodline Partners LP grew its holdings in shares of AppFolio by 2.9% in the first quarter. Woodline Partners LP now owns 1,754 shares of the software maker’s stock valued at $386,000 after purchasing an additional 50 shares during the period. Somerset Trust Co grew its holdings in shares of AppFolio by 6.7% in the second quarter. Somerset Trust Co now owns 1,105 shares of the software maker’s stock valued at $254,000 after purchasing an additional 69 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of AppFolio by 23.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 384 shares of the software maker’s stock valued at $84,000 after purchasing an additional 73 shares during the period. Deutsche Bank AG grew its holdings in shares of AppFolio by 3.3% in the first quarter. Deutsche Bank AG now owns 2,362 shares of the software maker’s stock valued at $519,000 after purchasing an additional 75 shares during the period. Finally, State of Alaska Department of Revenue grew its holdings in shares of AppFolio by 3.2% in the first quarter. State of Alaska Department of Revenue now owns 2,720 shares of the software maker’s stock valued at $598,000 after purchasing an additional 85 shares during the period. Hedge funds and other institutional investors own 85.19% of the company’s stock.

Analyst Ratings Changes

APPF has been the subject of a number of analyst reports. Piper Sandler raised shares of AppFolio from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $240.00 to $350.00 in a report on Friday, August 1st. KeyCorp raised shares of AppFolio from a “sector weight” rating to an “overweight” rating and set a $285.00 price objective for the company in a report on Friday. Weiss Ratings reissued a “buy (b-)” rating on shares of AppFolio in a report on Wednesday, October 8th. Keefe, Bruyette & Woods upped their target price 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. Finally, DA Davidson reaffirmed a “buy” rating and issued a $350.00 target price on shares of AppFolio in a research report on Friday, August 1st. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, AppFolio has an average rating of “Moderate Buy” and an average price target of $318.20.

Insider Buying and Selling at AppFolio

In other news, major shareholder Maurice J. Duca sold 2,500 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $275.57, for a total transaction of $688,925.00. Following the sale, the insider owned 55,795 shares of the company’s stock, valued at approximately $15,375,428.15. This represents a 4.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Matthew S. Mazza sold 1,636 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $276.98, for a total transaction of $453,139.28. Following the sale, the insider directly owned 25,015 shares in the company, valued at $6,928,654.70. This represents a 6.14% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,803 shares of company stock valued at $16,938,949. Corporate insiders own 4.68% of the company’s stock.

AppFolio Price Performance

NASDAQ APPF opened at $240.38 on Tuesday. The firm’s 50-day moving average is $265.19 and its two-hundred day moving average is $243.53. AppFolio, Inc. has a 12 month low of $189.01 and a 12 month high of $326.04. The stock has a market capitalization of $8.62 billion, a P/E ratio of 43.39 and a beta of 0.83.

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

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.