AppFolio (NASDAQ:APPF) General Counsel Evan Pickering Sells 464 Shares of Company Stock

AppFolio, Inc. (NASDAQ:APPF) General Counsel Evan Pickering sold 464 shares of AppFolio stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $221.47, for a total transaction of $102,762.08. Following the sale, the general counsel owned 4,438 shares in the company, valued at approximately $982,883.86. The trade was a 9.47% decrease in their position. The transaction was disclosed in a legal 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.

AppFolio Price Performance

Shares of APPF stock traded down $2.05 during mid-day trading on Thursday, hitting $222.80. The company had a trading volume of 221,448 shares, compared to its average volume of 383,836. AppFolio, Inc. has a 52-week low of $142.56 and a 52-week high of $251.09. The stock’s 50 day moving average price is $212.28 and its 200-day moving average price is $184.30. The company has a market capitalization of $7.90 billion, a P/E ratio of 47.00 and a beta of 0.87.

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. The firm had revenue of $295.69 million during the quarter, compared to analyst estimates of $294.46 million. AppFolio had a net margin of 15.62% and a return on equity of 33.56%. AppFolio’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.31 earnings per share. On average, equities research analysts expect that AppFolio, Inc. will post 5.18 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. bought a new stake in AppFolio in the third quarter worth $1,637,000. GW&K Investment Management LLC raised its stake in AppFolio by 2.8% during the third quarter. GW&K Investment Management LLC now owns 128,672 shares of the software maker’s stock valued at $25,802,000 after purchasing an additional 3,481 shares in the last quarter. Ieq Capital LLC purchased a new stake in AppFolio during the third quarter valued at $254,000. Global Retirement Partners LLC raised its stake in AppFolio by 198.1% during the third quarter. Global Retirement Partners LLC now owns 161 shares of the software maker’s stock valued at $32,000 after purchasing an additional 107 shares in the last quarter. Finally, South Dakota Investment Council lifted its position in AppFolio by 2.1% during the third quarter. South Dakota Investment Council now owns 9,351 shares of the software maker’s stock valued at $1,875,000 after purchasing an additional 191 shares during the last quarter. 85.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on APPF. UBS Group increased 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. Zacks Research cut AppFolio from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 23rd. Keefe, Bruyette & Woods lifted their target price on AppFolio from $233.00 to $255.00 and gave the stock an “outperform” rating in a report on Wednesday, October 21st. Wall Street Zen downgraded AppFolio from a “buy” rating to a “hold” rating in a research report on Sunday, July 26th. Finally, DA Davidson increased their price target on AppFolio from $240.00 to $250.00 and gave the company 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 assigned a Hold rating to the stock. According to MarketBeat, AppFolio presently has an average rating of “Moderate Buy” and an average target price of $250.00.

About AppFolio

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.