AppFolio (NASDAQ:APPF) General Counsel Sells $102,762.08 in Stock

AppFolio, Inc. (NASDAQ:APPF) General Counsel Evan Pickering sold 464 shares of the firm’s stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $221.47, for a total transaction of $102,762.08. Following the completion of the sale, the general counsel owned 4,438 shares of the company’s stock, valued at $982,883.86. This trade represents a 9.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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.

AppFolio Price Performance

APPF stock traded up $1.54 on Friday, reaching $224.34. 186,257 shares of the company traded hands, compared to its average volume of 396,866. The company has a market cap of $7.95 billion, a P/E ratio of 47.33 and a beta of 0.87. The firm has a fifty day simple moving average of $212.27 and a 200-day simple moving average of $184.36. AppFolio, Inc. has a one year low of $142.56 and a one year high of $250.81.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, October 22nd. The software maker reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.03. AppFolio had a return on equity of 33.56% and a net margin of 15.62%. The business had revenue of $295.69 million during the quarter, compared to analyst estimates of $294.46 million. During the same quarter in the previous year, the firm earned $1.31 EPS. AppFolio’s revenue was up 18.5% on a year-over-year basis. On average, sell-side analysts forecast that AppFolio, Inc. will post 5.18 EPS for the current year.

Institutional Trading of AppFolio

Hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new stake in AppFolio in the 2nd quarter valued at about $1,043,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in AppFolio during the 2nd quarter valued at $3,004,000. Royal Bank of Canada lifted its stake in shares of AppFolio by 19.6% in the first quarter. Royal Bank of Canada now owns 52,466 shares of the software maker’s stock worth $8,280,000 after acquiring an additional 8,582 shares in the last quarter. Wellington Management Group LLP acquired a new stake in AppFolio in the second quarter valued at $36,063,000. Finally, California State Teachers Retirement System grew its stake in AppFolio by 24.8% in the first quarter. California State Teachers Retirement System now owns 25,766 shares of the software maker’s stock worth $4,066,000 after purchasing an additional 5,115 shares in the last quarter. Hedge funds and other institutional investors own 85.19% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on APPF. Weiss Ratings reiterated a “hold (c)” rating on shares of AppFolio in a research report on Wednesday, November 4th. Keefe, Bruyette & Woods boosted their price objective on shares of AppFolio from $233.00 to $255.00 and gave the company an “outperform” rating in a research report on Wednesday, October 21st. UBS Group lifted their price objective on shares of AppFolio from $220.00 to $240.00 and gave the company a “neutral” rating in a report on Friday, October 23rd. DA Davidson increased their price objective on AppFolio from $240.00 to $250.00 and gave the company a “buy” rating in a report on Friday, October 23rd. Finally, Guggenheim lifted their target price on shares of AppFolio from $232.00 to $239.00 and gave the stock a “buy” rating in a research note on Friday, October 23rd. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, AppFolio presently has a consensus rating of “Moderate Buy” and a consensus price target of $250.00.

AppFolio Company Profile

AppFolio, Inc. provides cloud-based software for the real estate industry. Its products help property managers handle day-to-day operations, including accounting, leasing, marketing, maintenance, and communication with residents and owners. The company also offers software for real estate investment managers, supporting investor relations and investment operations. Its offerings include the AppFolio Property Manager platform, with solutions designed for businesses of different sizes and operating needs.