Allspring Global Investments Holdings LLC Cuts Stake in AppFolio, Inc. $APPF

Allspring Global Investments Holdings LLC lessened its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 88.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,380 shares of the software maker’s stock after selling 11,026 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in AppFolio were worth $317,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new position in shares of AppFolio in the 1st quarter worth approximately $55,000. GAMMA Investing LLC lifted its stake in shares of AppFolio by 110.1% in the 1st quarter. GAMMA Investing LLC now owns 353 shares of the software maker’s stock worth $78,000 after purchasing an additional 185 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of AppFolio by 23.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 384 shares of the software maker’s stock worth $84,000 after purchasing an additional 73 shares during the period. Oliver Lagore Vanvalin Investment Group bought a new position in shares of AppFolio in the 2nd quarter worth approximately $90,000. Finally, Reyes Financial Architecture Inc. bought a new position in shares of AppFolio in the 2nd quarter worth approximately $96,000. Hedge funds and other institutional investors own 85.19% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Klaus Schauser sold 3,000 shares of the business’s stock in a transaction 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 completion of the sale, the insider directly owned 300,000 shares of the company’s stock, valued at approximately $88,542,000. The trade was a 0.99% 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 this link. Also, major shareholder Maurice J. Duca sold 3,100 shares of the business’s 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 sale, the insider directly owned 42,400 shares of the company’s stock, valued at $13,626,512. This represents a 6.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 58,803 shares of company stock valued at $16,938,949 over the last three months. 4.68% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on APPF shares. DA Davidson restated a “buy” rating and set a $350.00 target price on shares of AppFolio in a research note on Friday, August 1st. Piper Sandler upgraded shares of AppFolio from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $240.00 to $350.00 in a research note on Friday, August 1st. Weiss Ratings restated a “buy (b-)” rating on shares of AppFolio in a research note on Friday. KeyCorp upgraded shares of AppFolio from a “sector weight” rating to an “overweight” rating and set a $285.00 price objective on the stock in a research report on Friday, October 17th. Finally, Keefe, Bruyette & Woods upgraded shares of AppFolio from a “market perform” rating to an “outperform” rating and set a $311.00 price objective on the stock in a research report on Friday. Seven equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, AppFolio currently has an average rating of “Buy” and an average price target of $318.20.

AppFolio Stock Up 1.3%

NASDAQ APPF opened at $242.68 on Friday. The company has a fifty day moving average of $262.96 and a two-hundred day moving average of $244.13. The firm has a market capitalization of $8.70 billion, a price-to-earnings ratio of 43.81 and a beta of 0.83. AppFolio, Inc. has a 52 week low of $190.24 and a 52 week high of $326.04.

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

About AppFolio

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.