AppFolio, Inc. $APPF Shares Bought by First Bank & Trust

by · The Cerbat Gem

First Bank & Trust increased its stake in shares of AppFolio, Inc. (NASDAQ:APPF – Free Report) by 8.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,307 shares of the software maker’s stock after buying an additional 104 shares during the quarter. First Bank & Trust’s holdings in AppFolio were worth $301,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC lifted its position in AppFolio by 84.4% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 773,579 shares of the software maker’s stock worth $170,110,000 after buying an additional 354,061 shares in the last quarter. Principal Financial Group Inc. lifted its position in AppFolio by 121.2% during the first quarter. Principal Financial Group Inc. now owns 401,888 shares of the software maker’s stock worth $88,375,000 after buying an additional 220,239 shares in the last quarter. Invesco Ltd. lifted its position in AppFolio by 1.9% during the first quarter. Invesco Ltd. now owns 347,125 shares of the software maker’s stock worth $76,333,000 after buying an additional 6,528 shares in the last quarter. New York State Common Retirement Fund lifted its position in AppFolio by 23.3% during the first quarter. New York State Common Retirement Fund now owns 225,472 shares of the software maker’s stock worth $49,581,000 after buying an additional 42,631 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in AppFolio by 0.6% during the first quarter. Bank of New York Mellon Corp now owns 208,319 shares of the software maker’s stock worth $45,809,000 after buying an additional 1,183 shares in the last quarter. Hedge funds and other institutional investors own 85.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on APPF. 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 lifted their price objective on AppFolio from $295.00 to $311.00 and gave the stock a “market perform” rating in a research report on Wednesday, September 3rd. Finally, DA Davidson restated a “buy” rating and issued a $350.00 target price on shares of AppFolio in a research report on Friday, August 1st. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $311.80.

Get Our Latest Report on AppFolio

Insider Buying and Selling

In related news, CEO William Shane Trigg sold 4,000 shares of the business’s stock in a transaction on Wednesday, September 10th. The stock was 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. The trade was a 6.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Maurice J. Duca sold 3,100 shares of the company’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $321.38, for a total value of $996,278.00. Following the transaction, the insider directly owned 42,400 shares of the company’s stock, valued at approximately $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 in the last three months. 4.68% of the stock is owned by corporate insiders.

AppFolio Price Performance

APPF opened at $276.26 on Wednesday. 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 $9.90 billion, a price-to-earnings ratio of 49.87 and a beta of 0.89. The business has a fifty day moving average price of $271.74 and a 200 day moving average price of $237.41.

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

About AppFolio

(Free Report)

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.

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