Evan Pickering Sells 660 Shares of AppFolio (NASDAQ:APPF) Stock

AppFolio, Inc. (NASDAQ:APPF) General Counsel Evan Pickering sold 660 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $155.25, for a total value of $102,465.00. Following the transaction, the general counsel directly owned 6,555 shares in the company, valued at $1,017,663.75. This trade represents a 9.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

AppFolio Stock Performance

APPF opened at $157.89 on Wednesday. AppFolio, Inc. has a 52-week low of $142.73 and a 52-week high of $326.04. The stock has a market capitalization of $5.58 billion, a PE ratio of 37.59 and a beta of 0.80. The stock’s 50 day moving average price is $160.99 and its 200-day moving average price is $186.84.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, April 23rd. The software maker reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.14. The firm had revenue of $262.21 million for the quarter, compared to analysts’ expectations of $258.13 million. AppFolio had a return on equity of 32.35% and a net margin of 15.27%.The business’s revenue was up 20.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.21 earnings per share. Research analysts forecast that AppFolio, Inc. will post 5.04 EPS for the current fiscal year.

Institutional Investors Weigh In On AppFolio

Several hedge funds have recently added to or reduced their stakes in the stock. Optiver Holding B.V. boosted its holdings in AppFolio by 827.8% in the first quarter. Optiver Holding B.V. now owns 167 shares of the software maker’s stock worth $26,000 after acquiring an additional 149 shares in the last quarter. Bank of America Corp DE boosted its holdings in AppFolio by 21.7% in the first quarter. Bank of America Corp DE now owns 345,603 shares of the software maker’s stock worth $54,543,000 after acquiring an additional 61,641 shares in the last quarter. Edgestream Partners L.P. boosted its holdings in AppFolio by 90.6% in the first quarter. Edgestream Partners L.P. now owns 70,110 shares of the software maker’s stock worth $11,065,000 after acquiring an additional 33,331 shares in the last quarter. South Dakota Investment Council boosted its holdings in AppFolio by 37.0% in the first quarter. South Dakota Investment Council now owns 6,660 shares of the software maker’s stock worth $1,051,000 after acquiring an additional 1,800 shares in the last quarter. Finally, Amundi boosted its holdings in AppFolio by 140.0% in the first quarter. Amundi now owns 3,859 shares of the software maker’s stock worth $609,000 after acquiring an additional 2,251 shares in the last quarter. 85.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

APPF has been the topic of several recent research reports. Piper Sandler reduced their price target on AppFolio from $245.00 to $210.00 and set an “overweight” rating on the stock in a research note on Friday, April 24th. Weiss Ratings cut AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. Benchmark upped their price target on AppFolio from $222.00 to $226.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. UBS Group set a $210.00 price target on AppFolio in a research note on Friday, April 24th. Finally, Wall Street Zen raised AppFolio from a “hold” rating to a “buy” rating in a research note on Sunday, March 15th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $252.29.

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.