6,000 Shares in AppFolio, Inc. $APPF Acquired by Evanson Financial LLC

Evanson Financial LLC acquired a new stake in AppFolio, Inc. (NASDAQ:APPF) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 6,000 shares of the software maker’s stock, valued at approximately $962,000.

Several other large investors have also recently added to or reduced their stakes in the company. M&T Bank Corp increased its stake in AppFolio by 1,643.8% during the 4th quarter. M&T Bank Corp now owns 96,153 shares of the software maker’s stock worth $22,370,000 after acquiring an additional 90,639 shares during the period. Vanguard Group Inc. boosted its position in AppFolio by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 2,560,460 shares of the software maker’s stock worth $595,691,000 after buying an additional 101,466 shares during the period. Riverbridge Partners LLC acquired a new position in shares of AppFolio in the first quarter worth approximately $13,906,000. Quantum Capital Management LLC NJ acquired a new stake in shares of AppFolio during the fourth quarter worth $7,995,000. Finally, SG Americas Securities LLC grew its position in shares of AppFolio by 666.2% during the 1st quarter. SG Americas Securities LLC now owns 25,185 shares of the software maker’s stock worth $3,975,000 after buying an additional 21,898 shares during the period. Institutional investors own 85.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Weiss Ratings cut AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. Guggenheim initiated coverage on shares of AppFolio in a research report on Wednesday, July 22nd. They issued a “buy” rating and a $232.00 price objective on the stock. Benchmark upped their price target on shares of AppFolio from $222.00 to $226.00 and gave the company a “buy” rating in a research note on Friday, April 24th. DA Davidson set a $225.00 target price on AppFolio in a report on Friday, July 24th. Finally, Piper Sandler dropped their price target on AppFolio from $245.00 to $210.00 and set an “overweight” rating for the company in a research report on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $243.50.

Insider Activity

In other news, major shareholder Maurice J. Duca sold 7,200 shares of the stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $180.32, for a total transaction of $1,298,304.00. Following the sale, the insider owned 42,400 shares in the company, valued at $7,645,568. This represents a 14.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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 firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $152.50, for a total transaction of $546,560.00. Following the sale, the chief executive officer directly owned 76,547 shares of the company’s stock, valued at $11,673,417.50. This trade represents a 4.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 89,318 shares of company stock valued at $16,175,746. 1.57% of the stock is owned by insiders.

AppFolio Stock Up 2.4%

Shares of NASDAQ APPF opened at $198.74 on Friday. AppFolio, Inc. has a 52 week low of $142.56 and a 52 week high of $300.25. The firm’s fifty day moving average is $169.70 and its 200 day moving average is $171.29. The company has a market cap of $7.04 billion, a price-to-earnings ratio of 45.37 and a beta of 0.78.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, July 23rd. The software maker reported $1.71 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $281.12 million for the quarter, compared to analysts’ expectations of $277.35 million. During the same period in the previous year, the firm earned $1.38 earnings per share. The business’s revenue was up 19.3% compared to the same quarter last year. Equities research analysts anticipate that AppFolio, Inc. will post 5.16 earnings per share for the current year.

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.