AppFolio (NASDAQ:APPF) General Counsel Evan Pickering Sells 660 Shares of Stock

AppFolio, Inc. (NASDAQ:APPF) General Counsel Evan Pickering sold 660 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $155.25, for a total transaction of $102,465.00. Following the sale, the general counsel owned 6,555 shares of the company’s stock, valued at approximately $1,017,663.75. This represents a 9.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

AppFolio Stock Performance

NASDAQ:APPF opened at $158.21 on Tuesday. The firm has a market cap of $5.59 billion, a P/E ratio of 37.67 and a beta of 0.80. AppFolio, Inc. has a fifty-two week low of $142.73 and a fifty-two week high of $326.04. The firm has a 50-day simple moving average of $160.98 and a two-hundred day simple moving average of $187.34.

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

Wall Street Analyst Weigh In

APPF has been the subject of a number of analyst reports. Benchmark raised their price objective on shares of AppFolio from $222.00 to $226.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Wall Street Zen upgraded shares of AppFolio from a “hold” rating to a “buy” rating in a research note on Sunday, March 15th. 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 shares of AppFolio from $245.00 to $210.00 and set an “overweight” rating on the stock in a report on Friday, April 24th. Finally, UBS Group set a $210.00 price target on shares of AppFolio in a report on Friday, April 24th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, AppFolio presently has an average rating of “Moderate Buy” and an average price target of $252.29.

Institutional Trading of AppFolio

A number of institutional investors have recently made changes to their positions in APPF. EverSource Wealth Advisors LLC boosted its holdings in shares of AppFolio by 101.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock valued at $26,000 after acquiring an additional 56 shares during the last quarter. Optiver Holding B.V. boosted its holdings in shares of AppFolio by 827.8% during the 1st quarter. Optiver Holding B.V. now owns 167 shares of the software maker’s stock valued at $26,000 after acquiring an additional 149 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of AppFolio by 48.8% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker’s stock worth $53,000 after buying an additional 63 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of AppFolio in the third quarter worth approximately $55,000. Finally, Employees Retirement System of Texas purchased a new position in shares of AppFolio in the third quarter worth approximately $58,000. Hedge funds and other institutional investors own 85.19% of the company’s stock.

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.