AppFolio (NASDAQ:APPF) CEO William Shane Trigg Sells 6,963 Shares of Stock

AppFolio, Inc. (NASDAQ:APPF) CEO William Shane Trigg sold 6,963 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $169.73, for a total value of $1,181,829.99. Following the sale, the chief executive officer owned 52,920 shares in the company, valued at approximately $8,982,111.60. The trade was a 11.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

AppFolio Stock Down 1.5%

Shares of AppFolio stock traded down $2.62 during midday trading on Friday, hitting $173.76. The company’s stock had a trading volume of 138,329 shares, compared to its average volume of 421,404. The firm has a market capitalization of $6.25 billion, a P/E ratio of 44.78 and a beta of 0.75. AppFolio, Inc. has a 1-year low of $166.36 and a 1-year high of $326.04. The stock has a 50-day simple moving average of $212.92 and a 200-day simple moving average of $241.68.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, January 29th. The software maker reported $1.39 EPS for the quarter, topping the consensus estimate of $1.22 by $0.17. AppFolio had a net margin of 14.82% and a return on equity of 29.79%. The business had revenue of $248.19 million during the quarter, compared to analysts’ expectations of $246.56 million. During the same period last year, the company posted $0.92 earnings per share. The firm’s quarterly revenue was up 21.7% compared to the same quarter last year. As a group, sell-side analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of AppFolio from $311.00 to $290.00 and set an “outperform” rating for the company in a report on Friday, January 30th. UBS Group set a $260.00 price target on AppFolio and gave the company a “buy” rating in a report on Friday, January 30th. Piper Sandler cut their target price on shares of AppFolio from $350.00 to $245.00 and set an “overweight” rating for the company in a research report on Friday, January 30th. KeyCorp reaffirmed an “overweight” rating on shares of AppFolio in a research report on Monday, February 2nd. Finally, Wells Fargo & Company restated a “buy” rating on shares of AppFolio in a research note on Thursday, January 15th. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $270.83.

Institutional Investors Weigh In On AppFolio

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its holdings in AppFolio by 22.6% during the 1st quarter. Royal Bank of Canada now owns 45,452 shares of the software maker’s stock worth $9,993,000 after purchasing an additional 8,367 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of AppFolio by 23.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 384 shares of the software maker’s stock worth $84,000 after acquiring an additional 73 shares in the last quarter. Millennium Management LLC boosted its position in AppFolio by 237.7% during the first quarter. Millennium Management LLC now owns 18,055 shares of the software maker’s stock valued at $3,970,000 after purchasing an additional 12,709 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in AppFolio by 164.8% in the first quarter. Jones Financial Companies Lllp now owns 654 shares of the software maker’s stock worth $144,000 after purchasing an additional 407 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of AppFolio by 322.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 66,777 shares of the software maker’s stock valued at $14,684,000 after buying an additional 50,970 shares in the last quarter. Institutional investors own 85.19% of the company’s stock.

AppFolio Company Profile

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.