Comerica Bank Sells 4,963 Shares of AppFolio, Inc. $APPF

Comerica Bank lessened its stake in AppFolio, Inc. (NASDAQ:APPF) by 41.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,127 shares of the software maker’s stock after selling 4,963 shares during the period. Comerica Bank’s holdings in AppFolio were worth $1,567,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Colonial Trust Co SC acquired a new position in shares of AppFolio in the 4th quarter valued at about $28,000. Fifth Third Bancorp lifted its stake in shares of AppFolio by 53.0% in the 1st quarter. Fifth Third Bancorp now owns 179 shares of the software maker’s stock valued at $39,000 after purchasing an additional 62 shares during the period. Versant Capital Management Inc lifted its stake in shares of AppFolio by 4,975.0% in the 1st quarter. Versant Capital Management Inc now owns 203 shares of the software maker’s stock valued at $45,000 after purchasing an additional 199 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of AppFolio in the 1st quarter valued at about $55,000. Finally, Blue Trust Inc. lifted its stake in shares of AppFolio by 330.2% in the 1st quarter. Blue Trust Inc. now owns 271 shares of the software maker’s stock valued at $60,000 after purchasing an additional 208 shares during the period. Institutional investors own 85.19% of the company’s stock.

AppFolio Price Performance

NASDAQ:APPF opened at $276.29 on Thursday. The business has a fifty day simple moving average of $263.41 and a two-hundred day simple moving average of $233.13. AppFolio, Inc. has a 1 year low of $189.01 and a 1 year high of $326.04. The company has a market capitalization of $9.90 billion, a P/E ratio of 49.87 and a beta of 0.89.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, July 31st. The software maker reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.11. The company had revenue of $235.58 million during the quarter, compared to analysts’ expectations of $230.10 million. AppFolio had a return on equity of 26.32% and a net margin of 23.54%.The firm’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.12 earnings per share. AppFolio has set its FY 2025 guidance at EPS. As a group, analysts anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Insider Activity at AppFolio

In related news, CEO William Shane Trigg sold 3,012 shares of AppFolio stock in a transaction on Friday, August 15th. The stock was sold at an average price of $264.98, for a total transaction of $798,119.76. Following the completion of the sale, the chief executive officer owned 63,556 shares of the company’s stock, valued at approximately $16,841,068.88. This trade represents a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Maurice J. Duca sold 2,500 shares of AppFolio stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $275.57, for a total value of $688,925.00. Following the sale, the insider directly owned 55,795 shares of the company’s stock, valued at approximately $15,375,428.15. This trade represents a 4.29% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 53,985 shares of company stock valued at $15,348,953. Company insiders own 4.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Keefe, Bruyette & Woods increased their price target on AppFolio from $295.00 to $311.00 and gave the stock a “market perform” rating in a report on Wednesday. Piper Sandler raised AppFolio from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $240.00 to $350.00 in a research note on Friday, August 1st. Finally, DA Davidson reissued a “buy” rating and issued a $350.00 price objective on shares of AppFolio in a research note on Friday, August 1st. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $311.80.

AppFolio Company 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.