Portside Wealth Group LLC Boosts Stock Position in AppFolio, Inc. $APPF

Portside Wealth Group LLC raised its holdings in AppFolio, Inc. (NASDAQ:APPF) by 8.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,828 shares of the software maker’s stock after purchasing an additional 307 shares during the quarter. Portside Wealth Group LLC’s holdings in AppFolio were worth $882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Huntington National Bank grew its position in AppFolio by 58.7% during the second quarter. Huntington National Bank now owns 200 shares of the software maker’s stock valued at $46,000 after buying an additional 74 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in AppFolio in the second quarter valued at about $52,000. Caitong International Asset Management Co. Ltd purchased a new position in AppFolio in the first quarter valued at about $55,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of AppFolio by 23.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 384 shares of the software maker’s stock worth $84,000 after purchasing an additional 73 shares during the last quarter. Finally, Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of AppFolio during the 2nd quarter worth approximately $90,000. 85.19% of the stock is currently owned by institutional investors.

Insider Activity

In other AppFolio news, major shareholder Maurice J. Duca sold 2,500 shares of the firm’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $275.57, for a total value of $688,925.00. Following the completion of the transaction, the insider directly owned 55,795 shares of the company’s stock, valued at $15,375,428.15. This trade represents a 4.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Janet Kerr sold 2,500 shares of the business’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $285.04, for a total transaction of $712,600.00. Following the transaction, the director owned 11,995 shares of the company’s stock, valued at $3,419,054.80. This trade represents a 17.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 22,801 shares of company stock valued at $6,312,246 over the last ninety days. 4.68% of the stock is owned by insiders.

Wall Street Analyst Weigh In

APPF has been the topic of several research analyst reports. KeyCorp dropped their price objective on AppFolio from $285.00 to $270.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. Weiss Ratings cut AppFolio from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. DA Davidson decreased their price objective on AppFolio from $375.00 to $325.00 and set a “buy” rating for the company in a report on Friday, October 31st. 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 report on Friday, October 24th. Finally, Piper Sandler upgraded shares of AppFolio from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $240.00 to $350.00 in a research report on Friday, August 1st. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $310.20.

AppFolio Stock Performance

NASDAQ:APPF opened at $228.08 on Wednesday. The business’s fifty day moving average is $253.56 and its 200 day moving average is $248.24. The firm has a market cap of $8.19 billion, a price-to-earnings ratio of 40.95 and a beta of 0.83. AppFolio, Inc. has a 52-week low of $190.24 and a 52-week high of $326.04.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, October 30th. The software maker reported $1.31 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.14). The company had revenue of $249.35 million during the quarter, compared to the consensus estimate of $245.39 million. AppFolio had a return on equity of 25.97% and a net margin of 22.48%.The firm’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.29 EPS. AppFolio has set its FY 2025 guidance at EPS. Equities analysts predict that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

AppFolio 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.