AppFolio (NASDAQ:APPF) Insider Sells $23,934.00 in Stock

AppFolio, Inc. (NASDAQ:APPF) insider Don Rigler sold 150 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $159.56, for a total value of $23,934.00. Following the transaction, the insider directly owned 4,282 shares of the company’s stock, valued at $683,235.92. The trade was a 3.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

AppFolio Price Performance

APPF opened at $148.59 on Thursday. AppFolio, Inc. has a 12 month low of $142.73 and a 12 month high of $326.04. The stock has a market capitalization of $5.25 billion, a price-to-earnings ratio of 35.38 and a beta of 0.80. The business has a fifty day moving average price of $160.77 and a 200 day moving average price of $186.28.

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

Analysts Set New Price Targets

Several research firms have recently issued reports on APPF. Piper Sandler lowered their price objective on AppFolio from $245.00 to $210.00 and set an “overweight” rating for the company in a research report on Friday, April 24th. Wall Street Zen raised AppFolio from a “hold” rating to a “buy” rating in a research note on Sunday, March 15th. Weiss Ratings downgraded AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. UBS Group set a $210.00 price objective on AppFolio in a research note on Friday, April 24th. Finally, Benchmark upped their price objective on AppFolio from $222.00 to $226.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $252.29.

Hedge Funds Weigh In On AppFolio

A number of large investors have recently modified their holdings of APPF. EverSource Wealth Advisors LLC raised its stake in shares of AppFolio by 101.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock worth $26,000 after buying an additional 56 shares in the last quarter. Optiver Holding B.V. raised its stake in shares of AppFolio by 827.8% during the 1st quarter. Optiver Holding B.V. now owns 167 shares of the software maker’s stock worth $26,000 after buying an additional 149 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of AppFolio by 48.8% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker’s stock worth $53,000 after buying an additional 63 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of AppFolio during the 3rd quarter worth approximately $55,000. Finally, Employees Retirement System of Texas purchased a new position in shares of AppFolio during the 3rd quarter worth approximately $58,000. 85.19% of the stock is owned by hedge funds and other institutional investors.

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.