Aviva PLC Sells 671 Shares of AppFolio, Inc. $APPF

Aviva PLC cut its holdings in AppFolio, Inc. (NASDAQ:APPF) by 23.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,153 shares of the software maker’s stock after selling 671 shares during the quarter. Aviva PLC’s holdings in AppFolio were worth $496,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in APPF. State of New Jersey Common Pension Fund D increased its position in AppFolio by 0.5% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 9,041 shares of the software maker’s stock valued at $2,082,000 after acquiring an additional 44 shares in the last quarter. Woodline Partners LP lifted its position in shares of AppFolio by 2.9% during the first quarter. Woodline Partners LP now owns 1,754 shares of the software maker’s stock worth $386,000 after purchasing an additional 50 shares in the last quarter. Somerset Trust Co grew its stake in shares of AppFolio by 6.7% during 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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 in the last quarter. Finally, Huntington National Bank raised its position in AppFolio by 58.7% in the 2nd quarter. Huntington National Bank now owns 200 shares of the software maker’s stock worth $46,000 after purchasing an additional 74 shares during the last quarter. Institutional investors and hedge funds own 85.19% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Timothy Mathias Eaton sold 667 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $276.58, for a total value of $184,478.86. Following the completion of the sale, the chief financial officer directly owned 11,142 shares of the company’s stock, valued at $3,081,654.36. This trade represents a 5.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Matthew S. Mazza sold 1,636 shares of the business’s stock in a transaction that occurred 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 directly owned 25,015 shares in the company, valued at $6,928,654.70. The trade was a 6.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 22,467 shares of company stock worth $6,230,860 in the last three months. Insiders own 4.68% of the company’s stock.

Analysts Set New Price Targets

APPF has been the topic of a number of recent research reports. KeyCorp decreased their price objective on AppFolio from $285.00 to $270.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. DA Davidson decreased 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 lifted their price objective for the stock from $240.00 to $350.00 in a research report on Friday, August 1st. Keefe, Bruyette & Woods upgraded shares of AppFolio from a “market perform” rating to an “outperform” rating and set a $311.00 target price on the stock in a research report on Friday, October 24th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of AppFolio in a research note on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $310.20.

AppFolio Trading Down 1.5%

APPF opened at $246.50 on Friday. The stock has a market capitalization of $8.85 billion, a P/E ratio of 44.25 and a beta of 0.83. AppFolio, Inc. has a 12 month low of $190.24 and a 12 month high of $326.04. The firm’s fifty day simple moving average is $256.30 and its 200 day simple moving average is $246.98.

AppFolio (NASDAQ:APPF) last announced its earnings results on Thursday, October 30th. The software maker reported $1.31 earnings per share (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 firm had revenue of $249.35 million during the quarter, compared to analyst estimates of $245.39 million. During the same period in the prior year, the business posted $1.29 EPS. The firm’s quarterly revenue was up 21.2% compared to the same quarter last year. AppFolio has set its FY 2025 guidance at EPS. On average, equities research analysts predict that AppFolio, Inc. will post 3.96 EPS for the current fiscal 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.