Insider Selling: AppFolio (NASDAQ:APPF) General Counsel Sells $64,419.32 in Stock

AppFolio, Inc. (NASDAQ:APPF) General Counsel Evan Pickering sold 322 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $200.06, for a total value of $64,419.32. Following the completion of the transaction, the general counsel owned 5,167 shares in the company, valued at $1,033,710.02. This represents a 5.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 shares were sold at an average price of $155.25, for a total value of $102,465.00.

AppFolio Trading Up 0.1%

AppFolio stock opened at $204.21 on Friday. AppFolio, Inc. has a 1-year low of $142.56 and a 1-year high of $288.73. The firm has a market capitalization of $7.23 billion, a price-to-earnings ratio of 46.62 and a beta of 0.78. The firm has a 50 day simple moving average of $172.83 and a 200 day simple moving average of $170.72.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, July 23rd. The software maker reported $1.71 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $277.35 million. During the same period last year, the firm earned $1.38 EPS. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. On average, equities research analysts forecast that AppFolio, Inc. will post 5.16 EPS for the current year.

Institutional Trading of AppFolio

Institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its holdings in AppFolio by 101.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock worth $26,000 after purchasing an additional 56 shares in the last quarter. Optiver Holding B.V. lifted its holdings in shares of AppFolio by 827.8% in the first quarter. Optiver Holding B.V. now owns 167 shares of the software maker’s stock worth $26,000 after buying an additional 149 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in AppFolio by 48.8% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker’s stock worth $53,000 after purchasing an additional 63 shares in the last quarter. Advisory Services Network LLC bought a new position in AppFolio during the third quarter valued at approximately $55,000. Finally, Employees Retirement System of Texas purchased a new position in shares of AppFolio in the third quarter valued at $58,000. Hedge funds and other institutional investors own 85.19% of the company’s stock.

AppFolio News Roundup

Here are the key news stories impacting AppFolio this week:

• Positive Sentiment: AppFolio named Amazon Web Services its preferred cloud provider. Its Performance Platform runs on AWS, supporting the company’s AI-native architecture and Realm AI suite. The arrangement could strengthen AppFolio’s technology infrastructure and improve its ability to deliver AI features to property-management customers. AppFolio names AWS preferred cloud provider
• Positive Sentiment: Zacks said growth investors should not overlook AppFolio, citing above-average financial growth. That view is supported by the company’s latest quarterly results, which showed revenue growth of 19.3% year over year and earnings of $1.71 per share, slightly ahead of consensus. Zacks AppFolio growth analysis
• Neutral Sentiment: Major shareholder Maurice J. Duca sold a combined 17,900 APPF shares on August 12–13 for approximately $3.54 million. The transactions were executed under a pre-arranged Rule 10b5-1 plan, reducing their value as a signal of current management confidence, although the sizable sales could still attract investor attention. SEC filing for Duca AppFolio share sales
• Neutral Sentiment: General Counsel Evan Pickering also reported sales, including 727 shares and an earlier 141-share transaction. The 141-share sale was made under a 10b5-1 plan to cover tax withholding related to vested equity awards, making it less concerning than discretionary selling. AppFolio general counsel share sale
• Negative Sentiment: Repeated insider selling may weigh on sentiment, particularly with APPF valued at roughly 45–47 times earnings. Investors may remain sensitive to whether AppFolio can sustain its growth and justify its premium valuation, despite the stock trading well above its 52-week low and moving averages.

Wall Street Analyst Weigh In

APPF has been the subject of a number of recent analyst reports. Weiss Ratings raised AppFolio from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. Benchmark raised their target price 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 lowered AppFolio from a “buy” rating to a “hold” rating in a research report on Sunday, July 26th. Guggenheim assumed coverage on AppFolio in a report on Wednesday, July 22nd. They issued a “buy” rating and a $232.00 target price for the company. Finally, KeyCorp restated an “overweight” rating on shares of AppFolio in a report on Monday, July 6th. Two investment 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus 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.