Janus Henderson Group PLC Has $1.55 Million Position in AppFolio, Inc. $APPF

Janus Henderson Group PLC cut its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 50.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,838 shares of the software maker’s stock after selling 10,034 shares during the quarter. Janus Henderson Group PLC’s holdings in AppFolio were worth $1,554,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in APPF. Principal Financial Group Inc. grew its holdings in shares of AppFolio by 20.9% in the 1st quarter. Principal Financial Group Inc. now owns 1,505,882 shares of the software maker’s stock worth $237,665,000 after purchasing an additional 259,933 shares during the last quarter. Lead Edge Capital Management LLC bought a new position in AppFolio during the 1st quarter valued at about $33,183,000. Greenstone Partners & Co. LLC acquired a new position in AppFolio in the fourth quarter valued at about $43,647,000. Millennium Management LLC boosted its position in AppFolio by 158.6% in the fourth quarter. Millennium Management LLC now owns 281,495 shares of the software maker’s stock valued at $65,490,000 after buying an additional 172,627 shares in the last quarter. Finally, Caledonia Private Investments Pty Ltd boosted its position in AppFolio by 45.9% in the fourth quarter. Caledonia Private Investments Pty Ltd now owns 332,635 shares of the software maker’s stock valued at $77,388,000 after buying an additional 104,609 shares in the last quarter. Institutional investors and hedge funds own 85.19% of the company’s stock.

Analyst Upgrades and Downgrades

APPF has been the subject of several recent analyst reports. Wall Street Zen lowered shares of AppFolio from a “buy” rating to a “hold” rating in a report on Sunday, July 26th. Benchmark boosted their target price on AppFolio from $222.00 to $226.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Guggenheim assumed coverage on AppFolio in a research report on Wednesday, July 22nd. They set a “buy” rating and a $232.00 price target on the stock. Piper Sandler dropped their price target on AppFolio from $245.00 to $210.00 and set an “overweight” rating for the company in a report on Friday, April 24th. Finally, Weiss Ratings cut AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $243.50.

AppFolio Price Performance

APPF stock opened at $198.74 on Monday. The business’s fifty day moving average is $169.70 and its 200-day moving average is $170.96. The company has a market cap of $7.04 billion, a P/E ratio of 45.37 and a beta of 0.78. AppFolio, Inc. has a twelve month low of $142.56 and a twelve month high of $300.25.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, July 23rd. The software maker reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.02. AppFolio had a return on equity of 32.42% and a net margin of 15.13%.The business had revenue of $281.12 million for the quarter, compared to analyst estimates of $277.35 million. During the same period last year, the company earned $1.38 EPS. The firm’s revenue was up 19.3% on a year-over-year basis. Research analysts anticipate that AppFolio, Inc. will post 5.16 earnings per share for the current fiscal year.

Insider Activity

In other AppFolio news, major shareholder Maurice J. Duca sold 7,200 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $180.32, for a total transaction of $1,298,304.00. Following the transaction, the insider owned 42,400 shares in the company, valued at approximately $7,645,568. This trade represents a 14.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Shane Trigg sold 3,584 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $152.50, for a total value of $546,560.00. Following the transaction, the chief executive officer owned 76,547 shares of the company’s stock, valued at $11,673,417.50. The trade was a 4.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 89,318 shares of company stock worth $16,175,746 in the last three months. Insiders own 1.57% of the company’s stock.

About AppFolio

AppFolio, Inc is a Santa Barbara–based provider of cloud-based software solutions for the property management and legal industries. Founded in 2006 by former software executives, the company went public on the NASDAQ under the symbol APPF in 2015. Its original offering, AppFolio Property Manager, automates accounting, marketing, leasing, and maintenance functions for residential, commercial, student housing, and community association managers.

In 2019, AppFolio expanded its portfolio with the acquisition of MyCase, a web-based legal practice management platform for small to mid-size law firms.