Stifel Financial Increases Holdings in AppFolio, Inc. Stock

Stifel Financial Corp has made significant changes to its investment in AppFolio, Inc. (NASDAQ:APPF). During the third quarter, it raised its holdings in the company by an impressive 45.0%, according to the latest disclosure submitted to the Securities and Exchange Commission (SEC). After purchasing an additional 575 shares, Stifel Financial Corp now owns 1,853 shares of AppFolio, which had a value of approximately $436,000 at the close of the most recent quarter.

Other institutional investors have also been active in buying and selling AppFolio shares. For instance, Bank of New York Mellon Corp boosted its position by 13.5% during the second quarter, now holding 241,801 shares valued at $59,137,000 after acquiring 28,673 additional shares. Similarly, Driehaus Capital Management LLC increased its stake by 16.7%, bringing its total to 227,632 shares valued at $55,672,000 after purchasing an additional 32,633 shares.

Squarepoint Ops LLC showcased a remarkable increase in its holdings, raising its position by 188.2%. It now owns 185,034 shares worth $45,254,000 following the purchase of 120,835 shares. Additionally, Principal Financial Group Inc. elevated its stake by 16.1% during the third quarter, owning 177,831 shares valued at $41,861,000 after buying 24,697 additional shares. Charles Schwab Investment Management Inc. also increased its position in AppFolio by 15.8%, now holding 176,815 shares valued at around $41,622,000 after acquiring 24,141 shares.

Overall, institutional investors own 85.19% of AppFolio’s stock, indicating strong interest from these major financial entities.

Insider Trading Activity

In addition to institutional investments, insider trading has also been observed at AppFolio. CEO William Shane Trigg sold 4,145 shares on December 6th at an average price of $263.32, totaling approximately $1,091,461. After this transaction, he retained 73,682 shares valued around $19,401,944, reflecting a 5.33% decrease in his ownership of the stock. This sale was documented in a filing with the SEC.

Another insider, Matthew S. Mazza, sold 926 shares on November 11th for about $212,091, a transaction that represented a 2.67% decrease in his ownership. Over the past ninety days, insiders have sold a total of 23,768 shares worth about $5,744,891. Currently, company insiders hold 5.24% of the company's stock.

Analyst Ratings and Price Targets

Analyst opinions on AppFolio's stock have varied recently. Keefe, Bruyette & Woods downgraded the stock from a “market perform” to an “underperform” rating, reducing their price target from $255.00 to $193.00. In contrast, Piper Sandler adjusted their price target from $300.00 to $265.00, maintaining an “overweight” rating. KeyCorp also lowered their price estimate from $300.00 to $252.00 while keeping an “overweight” rating. At present, one analyst suggests a sell rating, one recommends holding, and seven analysts have issued buy ratings, leading to an average rating of “Moderate Buy” with a target price of $261.75 according to data from MarketBeat.

Current Trading Status

As of the most recent trading session, AppFolio shares opened at $249.89. The company's 50-day moving average stands at $238.52, and its 200-day moving average is $234.41. AppFolio has a market capitalization of $9.08 billion, a price-to-earnings (P/E) ratio of 69.61, and a beta of 0.86. It has experienced a 52-week low of $164.29 and a high of $274.56.

On October 24th, AppFolio released its earnings report for the latest quarter, showing earnings per share (EPS) of $1.29, surpassing expectations of $1.03 by $0.26. The firm’s revenue for the quarter reached $206.00 million, which also exceeded analyst predictions of $199.11 million. Notably, AppFolio achieved a return on equity of 30.64% and a net margin of 17.26%, with revenue growth of 24.5% compared to last year. Analysts project that AppFolio, Inc. will report an EPS of 3.23 for the current year.

Company Overview

AppFolio, Inc., alongside its subsidiaries, offers cloud business management solutions specifically designed for the real estate industry in the United States. The company provides a cloud-based platform that enables users to automate various workflows, offering tools to assist with leasing, maintenance, and accounting, as well as other technological services from third parties.

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