Evan Pickering Sells 322 Shares of AppFolio (NASDAQ:APPF) Stock

AppFolio, Inc. (NASDAQ:APPF) General Counsel Evan Pickering sold 322 shares of AppFolio stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $200.06, for a total value of $64,419.32. Following the completion of the sale, the general counsel directly owned 5,167 shares in the company, valued at $1,033,710.02. This represents a 5.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Evan Pickering also recently made the following trade(s):

• On Tuesday, August 11th, Evan Pickering sold 141 shares of AppFolio stock. The shares were sold at an average price of $202.01, for a total value of $28,483.41.
• On Wednesday, August 5th, Evan Pickering sold 661 shares of AppFolio stock. The stock was sold at an average price of $200.49, for a total transaction of $132,523.89.
• On Friday, June 12th, Evan Pickering sold 660 shares of AppFolio stock. The stock was sold at an average price of $155.25, for a total transaction of $102,465.00.

AppFolio Stock Up 3.7%

AppFolio stock opened at $203.97 on Friday. The company has a fifty day simple moving average of $172.09 and a 200-day simple moving average of $170.49. The firm has a market capitalization of $7.22 billion, a price-to-earnings ratio of 46.57 and a beta of 0.78. AppFolio, Inc. has a 52-week low of $142.56 and a 52-week high of $288.73.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, July 23rd. The software maker reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.02. AppFolio had a net margin of 15.13% and a return on equity of 32.42%. The firm had revenue of $281.12 million for the quarter, compared to analyst estimates of $277.35 million. During the same period in the previous year, the business posted $1.38 earnings per share. AppFolio’s quarterly revenue was up 19.3% on a year-over-year basis. On average, research analysts anticipate that AppFolio, Inc. will post 5.16 EPS for the current fiscal year.

Institutional Investors Weigh In On AppFolio

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. M&T Bank Corp lifted its stake in shares of AppFolio by 1,643.8% in the fourth quarter. M&T Bank Corp now owns 96,153 shares of the software maker’s stock valued at $22,370,000 after purchasing an additional 90,639 shares during the period. Vanguard Group Inc. grew 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 buying an additional 101,466 shares during the period. Riverbridge Partners LLC purchased a new position in AppFolio in the first quarter valued at about $13,906,000. Quantum Capital Management LLC NJ purchased a new position in AppFolio in the fourth quarter valued at about $7,995,000. Finally, Principal Financial Group Inc. lifted its position in shares of AppFolio by 6.8% during the 4th quarter. Principal Financial Group Inc. now owns 1,245,949 shares of the software maker’s stock valued at $289,880,000 after acquiring an additional 79,197 shares during the period. Institutional investors and hedge funds own 85.19% of the company’s stock.

AppFolio News Summary

Here are the key news stories impacting AppFolio this week:

• Positive Sentiment: AppFolio’s latest quarter exceeded expectations: earnings reached $1.71 per share versus the $1.69 consensus estimate, while revenue of $281.12 million surpassed forecasts of $277.35 million. Revenue grew 19.3% year over year, and analysts expect full-year earnings of approximately $5.16 per share. AppFolio quarterly results
• Positive Sentiment: Analyst coverage remains constructive. AppFolio carries a consensus “Buy” rating and an average price target of $243.50, with Guggenheim initiating coverage at “Buy” and Benchmark raising its target to $226. AppFolio analyst ratings
• Positive Sentiment: Institutional ownership provides additional support: 85.19% of shares are held by institutions and hedge funds, while Vanguard, Principal Financial, T. Rowe Price and William Blair recently increased their positions. AppFolio institutional ownership
• Neutral Sentiment: Major shareholder Maurice J. Duca sold 17,900 shares for approximately $3.57 million across August 10–11. The transactions were executed under a pre-arranged Rule 10b5-1 plan, making them a less clear indicator of current confidence in AppFolio’s outlook. SEC filing for Maurice Duca
• Neutral Sentiment: General Counsel Evan Pickering sold 463 shares, while insider Don Rigler sold 150 shares. These sales were also made through pre-arranged plans, primarily to cover tax withholding on vested equity awards. SEC filings for AppFolio insider sales
• Negative Sentiment: Despite its growth, APPF trades at a relatively demanding valuation, with a price-to-earnings ratio near 45. Repeated insider selling could create a short-term overhang, while Piper Sandler’s lower $210 target and Wall Street Zen’s downgrade to “Hold” highlight downside risks if growth or execution weakens.

Analysts Set New Price Targets

A number of brokerages recently commented on APPF. Piper Sandler reduced their price objective on AppFolio from $245.00 to $210.00 and set an “overweight” rating on the stock in a research report on Friday, April 24th. Zacks Research raised AppFolio from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. KeyCorp reiterated an “overweight” rating on shares of AppFolio in a report on Monday, July 6th. UBS Group set a $210.00 price target on shares of AppFolio in a research report on Friday, April 24th. Finally, Wall Street Zen lowered shares of AppFolio from a “buy” rating to a “hold” rating in a report on Sunday, July 26th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $243.50.

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.