AGF Management Ltd. Acquires New Position in AppFolio, Inc. $APPF

AGF Management Ltd. acquired a new stake in AppFolio, Inc. (NASDAQ:APPF) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 14,314 shares of the software maker’s stock, valued at approximately $3,296,000.

A number of other large investors have also modified their holdings of the business. Huntington National Bank grew its holdings in AppFolio by 58.7% during the second quarter. Huntington National Bank now owns 200 shares of the software maker’s stock worth $46,000 after acquiring an additional 74 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of AppFolio during the 2nd quarter worth $52,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of AppFolio in the first quarter valued at about $55,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in AppFolio by 23.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 384 shares of the software maker’s stock worth $84,000 after buying an additional 73 shares in the last quarter. Finally, Oliver Lagore Vanvalin Investment Group purchased a new stake in AppFolio during the second quarter worth about $90,000. 85.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

APPF has been the topic of a number of research reports. DA Davidson lowered their price target on AppFolio from $375.00 to $325.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Piper Sandler upgraded 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. Keefe, Bruyette & Woods raised 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 note on Friday, October 24th. Weiss Ratings restated a “buy (b-)” rating on shares of AppFolio in a research report on Wednesday, October 8th. Finally, KeyCorp lowered their price target on shares of AppFolio from $285.00 to $270.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, AppFolio presently has a consensus rating of “Buy” and an average price target of $310.20.

Insider Activity at AppFolio

In related news, insider Matthew S. Mazza sold 1,636 shares of AppFolio stock in a transaction on Monday, September 15th. The stock was sold at an average price of $276.98, for a total value of $453,139.28. Following the transaction, the insider owned 25,015 shares in the company, valued at approximately $6,928,654.70. This trade represents a 6.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Maurice J. Duca sold 2,500 shares of the business’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $275.57, for a total value of $688,925.00. Following the sale, the insider directly owned 55,795 shares of the company’s stock, valued at approximately $15,375,428.15. This trade represents a 4.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 27,803 shares of company stock worth $7,672,263 in the last 90 days. Company insiders own 4.68% of the company’s stock.

AppFolio Trading Up 0.6%

Shares of NASDAQ:APPF opened at $251.80 on Monday. The firm has a market cap of $9.04 billion, a price-to-earnings ratio of 45.21 and a beta of 0.83. The stock’s 50-day moving average price is $258.37 and its two-hundred day moving average price is $246.41. AppFolio, Inc. has a 12-month low of $190.24 and a 12-month high of $326.04.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings data on Thursday, October 30th. The software maker reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.14). AppFolio had a net margin of 22.48% and a return on equity of 25.97%. The company had revenue of $249.35 million for the quarter, compared to analyst estimates of $245.39 million. During the same period in the prior year, the company earned $1.29 EPS. The company’s revenue was up 21.2% compared to the same quarter last year. AppFolio has set its FY 2025 guidance at EPS. As a group, research analysts forecast that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal 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.