AppFolio, Inc. (NASDAQ:APPF) Stock Position Increased by Oppenheimer Asset Management Inc.

Posted by Defense World Staff on Aug 27th, 2023

Oppenheimer Asset Management Inc. grew its position in AppFolio, Inc. (NASDAQ:APPF – Free Report) by 19.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,717 shares of the software maker’s stock after purchasing an additional 1,253 shares during the period. Oppenheimer Asset Management Inc.’s holdings in AppFolio were worth $961,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in APPF. Dark Forest Capital Management LP grew its holdings in AppFolio by 1,472.2% in the 4th quarter. Dark Forest Capital Management LP now owns 283 shares of the software maker’s stock worth $30,000 after buying an additional 265 shares in the last quarter. Altshuler Shaham Ltd acquired a new position in shares of AppFolio during the first quarter valued at $30,000. Federated Hermes Inc. acquired a new position in shares of AppFolio during the first quarter valued at $39,000. Assetmark Inc. bought a new stake in shares of AppFolio during the first quarter valued at about $45,000. Finally, Hollencrest Capital Management acquired a new stake in AppFolio in the fourth quarter worth about $65,000. Institutional investors and hedge funds own 69.24% of the company’s stock.

Insider Activity at AppFolio

In other news, Director Janet Kerr sold 250 shares of the business’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $172.46, for a total value of $43,115.00. Following the completion of the sale, the director now directly owns 16,876 shares in the company, valued at $2,910,434.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 9.15% of the stock is owned by company insiders.

Analysts Set New Price Targets

APPF has been the topic of several research analyst reports. KeyCorp raised their target price on shares of AppFolio from $190.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, July 28th. StockNews.com initiated coverage on AppFolio in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. TheStreet upgraded AppFolio from a “d+” rating to a “c-” rating in a report on Thursday, May 11th. Stephens raised AppFolio from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $184.00 to $212.00 in a report on Monday, August 21st. Finally, DA Davidson raised their price objective on shares of AppFolio from $117.00 to $155.00 and gave the company a “neutral” rating in a research report on Monday, July 31st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $181.40.

Read Our Latest Analysis on AppFolio

AppFolio Stock Up 0.8 %

Shares of NASDAQ:APPF opened at $183.82 on Friday. The company has a market cap of $6.55 billion, a P/E ratio of -83.55 and a beta of 0.98. The company’s fifty day moving average is $176.59 and its two-hundred day moving average is $149.27. AppFolio, Inc. has a 12-month low of $93.02 and a 12-month high of $195.90.

AppFolio (NASDAQ:APPF – Get Free Report) last announced its quarterly earnings results on Thursday, July 27th. The software maker reported ($0.53) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.63). The business had revenue of $147.08 million for the quarter, compared to analyst estimates of $143.76 million. AppFolio had a negative return on equity of 31.03% and a negative net margin of 14.63%. The business’s revenue for the quarter was up 25.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.86) EPS. Equities research analysts anticipate that AppFolio, Inc. will post -0.29 earnings per share for the current year.

AppFolio Company Profile

(Free Report)

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry. The company offers AppFolio Property Manager, a platform to leverage process automation, easy to use interface, and the optimization of common workflows for property management companies, as well as completes and records critical transactions in the system and give its customers access to the data they need to run their business; AppFolio Property Manager Plus, which offers customizable workflows that allow customers to digitize their existing processes, performance insights, intelligent revenue management, and integrations through selected partners and dedicated strategic account managers; and AppFolio Investment Management, a solution that is designed to enable real estate investment management organizations to manage investor relationships through enhancing transparency and streamlining certain business processes.