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 that occurred on Friday, June 12th. The shares were sold at an average price of $159.56, for a total transaction of $23,934.00. Following the transaction, the insider directly owned 4,282 shares of the company’s stock, valued at approximately $683,235.92. This represents a 3.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

AppFolio Stock Down 1.9%

Shares of AppFolio stock traded down $3.00 during trading on Monday, reaching $158.21. The company’s stock had a trading volume of 276,517 shares, compared to its average volume of 368,443. The firm’s 50-day moving average is $160.98 and its two-hundred day moving average is $187.34. AppFolio, Inc. has a 52-week low of $142.73 and a 52-week high of $326.04. The company has a market cap of $5.59 billion, a price-to-earnings ratio of 37.67 and a beta of 0.80.

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

Analysts Set New Price Targets

Several research firms have commented on APPF. UBS Group set a $210.00 price objective on shares of AppFolio in a research note on Friday, April 24th. Benchmark lifted their price objective on AppFolio from $222.00 to $226.00 and gave the company a “buy” rating in a report on Friday, April 24th. Weiss Ratings downgraded shares of AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday. Piper Sandler dropped their price target on AppFolio from $245.00 to $210.00 and set an “overweight” rating on the stock in a research note on Friday, April 24th. Finally, Wall Street Zen upgraded AppFolio from a “hold” rating to a “buy” rating in a research report on Sunday, March 15th. Nine 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 has a consensus rating of “Moderate Buy” and an average target price of $252.29.

Hedge Funds Weigh In On AppFolio

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada raised its position in shares of AppFolio by 22.6% during the 1st quarter. Royal Bank of Canada now owns 45,452 shares of the software maker’s stock worth $9,993,000 after acquiring an additional 8,367 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of AppFolio by 23.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 384 shares of the software maker’s stock valued at $84,000 after purchasing an additional 73 shares during the period. Millennium Management LLC boosted its stake in shares of AppFolio by 237.7% in the first quarter. Millennium Management LLC now owns 18,055 shares of the software maker’s stock valued at $3,970,000 after buying an additional 12,709 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of AppFolio by 164.8% in the first quarter. Jones Financial Companies Lllp now owns 654 shares of the software maker’s stock valued at $144,000 after buying an additional 407 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in AppFolio by 322.5% during the first quarter. Goldman Sachs Group Inc. now owns 66,777 shares of the software maker’s stock worth $14,684,000 after purchasing an additional 50,970 shares in the last quarter. Hedge funds and other institutional investors own 85.19% of the company’s stock.

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.