AppFolio (NASDAQ:APPF) CEO William Shane Trigg Sells 3,584 Shares

AppFolio, Inc. (NASDAQ:APPF) CEO William Shane Trigg sold 3,584 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $152.50, for a total transaction of $546,560.00. Following the transaction, the chief executive officer directly owned 76,547 shares in the company, valued at approximately $11,673,417.50. The trade was a 4.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

AppFolio Stock Up 1.2%

APPF opened at $159.82 on Wednesday. The company has a market cap of $5.65 billion, a price-to-earnings ratio of 38.05 and a beta of 0.82. AppFolio, Inc. has a 52-week low of $142.73 and a 52-week high of $326.04. The firm’s fifty day simple moving average is $161.63 and its two-hundred day simple moving average is $197.77.

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

Institutional Investors Weigh In On AppFolio

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in AppFolio by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 2,560,460 shares of the software maker’s stock worth $595,691,000 after purchasing an additional 101,466 shares during the last quarter. Principal Financial Group Inc. increased its position in AppFolio by 20.9% during the first quarter. Principal Financial Group Inc. now owns 1,505,882 shares of the software maker’s stock worth $237,665,000 after purchasing an additional 259,933 shares during the last quarter. State Street Corp increased its position in AppFolio by 1.1% during the fourth quarter. State Street Corp now owns 685,656 shares of the software maker’s stock worth $159,518,000 after purchasing an additional 7,585 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in AppFolio by 17.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 669,317 shares of the software maker’s stock worth $155,717,000 after purchasing an additional 98,230 shares during the last quarter. Finally, William Blair Investment Management LLC increased its position in AppFolio by 15.6% during the fourth quarter. William Blair Investment Management LLC now owns 638,241 shares of the software maker’s stock worth $148,487,000 after purchasing an additional 86,272 shares during the last quarter. 85.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on APPF. Piper Sandler reduced their target price on shares of AppFolio from $245.00 to $210.00 and set an “overweight” rating for the company in a research report on Friday, April 24th. Benchmark increased their target price on shares of AppFolio from $222.00 to $226.00 and gave the company a “buy” rating in a research report on Friday, April 24th. William Blair reiterated an “outperform” rating on shares of AppFolio in a research report on Friday, January 30th. Keefe, Bruyette & Woods reduced their target price on shares of AppFolio from $311.00 to $290.00 and set an “outperform” rating for the company in a research report on Friday, January 30th. Finally, UBS Group set a $210.00 target price on shares of AppFolio in a research report on Friday, April 24th. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $252.29.

About AppFolio

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.