Elizabeth Erin Barat Sells 1,978 Shares of AppFolio (NASDAQ:APPF) Stock

AppFolio, Inc. (NASDAQ:APPF) insider Elizabeth Erin Barat sold 1,978 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $158.12, for a total value of $312,761.36. Following the sale, the insider owned 21,545 shares of the company’s stock, valued at $3,406,695.40. This represents a 8.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

AppFolio Price Performance

Shares of NASDAQ:APPF traded down $4.18 during trading on Tuesday, hitting $155.38. 315,607 shares of the company’s stock were exchanged, compared to its average volume of 352,586. The company has a market cap of $5.49 billion, a price-to-earnings ratio of 37.00 and a beta of 0.82. The business’s 50-day simple moving average is $164.99 and its 200 day simple moving average is $200.87. AppFolio, Inc. has a 52-week low of $142.73 and a 52-week high of $326.04.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings data 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. AppFolio had a return on equity of 32.35% and a net margin of 15.27%.The business had revenue of $262.21 million during the quarter, compared to analyst estimates of $258.13 million. During the same period last year, the company earned $1.21 EPS. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. On average, sell-side analysts anticipate that AppFolio, Inc. will post 5.04 EPS for the current fiscal year.

Institutional Investors Weigh In On AppFolio

A number of large investors have recently made changes to their positions in the stock. Truist Financial Corp grew its position in shares of AppFolio by 1.1% in the third quarter. Truist Financial Corp now owns 3,928 shares of the software maker’s stock valued at $1,083,000 after purchasing an additional 43 shares in the last quarter. Amalgamated Bank grew its position in shares of AppFolio by 0.4% in the third quarter. Amalgamated Bank now owns 11,068 shares of the software maker’s stock valued at $3,051,000 after purchasing an additional 46 shares in the last quarter. Linden Thomas Advisory Services LLC grew its position in AppFolio by 3.1% in the third quarter. Linden Thomas Advisory Services LLC now owns 1,515 shares of the software maker’s stock worth $418,000 after acquiring an additional 46 shares during the period. Woodline Partners LP increased its stake in AppFolio by 2.9% during the first quarter. Woodline Partners LP now owns 1,754 shares of the software maker’s stock worth $386,000 after acquiring an additional 50 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in AppFolio by 101.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock worth $26,000 after acquiring an additional 56 shares during the last quarter. 85.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on APPF. DA Davidson dropped their target price on AppFolio from $325.00 to $275.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. JPMorgan Chase & Co. lowered their target price on AppFolio from $330.00 to $300.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th. Benchmark upped their target price on AppFolio from $222.00 to $226.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. William Blair reissued an “outperform” rating on shares of AppFolio in a report on Friday, January 30th. Finally, Wall Street Zen raised AppFolio from a “hold” rating to a “buy” rating in a report on Sunday, March 15th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.