AppFolio (NASDAQ:APPF) Insider Sells $34,558.50 in Stock

AppFolio, Inc. (NASDAQ:APPF) insider Don Rigler sold 150 shares of the stock in a transaction on Monday, November 9th. The stock was sold at an average price of $230.39, for a total transaction of $34,558.50. Following the sale, the insider owned 3,875 shares of the company’s stock, valued at approximately $892,761.25. This trade represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 Trading Up 0.7%

APPF stock traded up $1.54 during midday trading on Friday, hitting $224.34. The stock had a trading volume of 186,257 shares, compared to its average volume of 396,866. The firm has a market cap of $7.95 billion, a P/E ratio of 47.33 and a beta of 0.87. AppFolio, Inc. has a 1-year low of $142.56 and a 1-year high of $250.81. The business has a fifty day moving average price of $212.27 and a two-hundred day moving average price of $184.36.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Thursday, October 22nd. The software maker reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.03. AppFolio had a net margin of 15.62% and a return on equity of 33.56%. The business had revenue of $295.69 million for the quarter, compared to analysts’ expectations of $294.46 million. During the same quarter in the prior year, the firm posted $1.31 earnings per share. The business’s quarterly revenue was up 18.5% compared to the same quarter last year. On average, equities analysts anticipate that AppFolio, Inc. will post 5.18 EPS for the current year.

Hedge Funds Weigh In On AppFolio

A number of large investors have recently modified their holdings of APPF. Marshall Wace LLP increased its stake in AppFolio by 243.4% during the 3rd quarter. Marshall Wace LLP now owns 50,930 shares of the software maker’s stock valued at $10,212,000 after purchasing an additional 36,100 shares in the last quarter. Ingalls & Snyder LLC bought a new stake in shares of AppFolio during the third quarter worth about $259,000. Advisors Asset Management Inc. bought a new stake in shares of AppFolio during the third quarter worth about $1,637,000. GW&K Investment Management LLC increased its position in shares of AppFolio by 2.8% during the third quarter. GW&K Investment Management LLC now owns 128,672 shares of the software maker’s stock worth $25,802,000 after acquiring an additional 3,481 shares in the last quarter. Finally, Ieq Capital LLC acquired a new stake in shares of AppFolio in the 3rd quarter worth about $254,000. 85.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on APPF. KeyCorp reaffirmed an “overweight” rating on shares of AppFolio in a research note on Wednesday, October 14th. DA Davidson boosted 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. Weiss Ratings restated a “hold (c)” rating on shares of AppFolio in a report on Wednesday, November 4th. UBS Group increased their price target on AppFolio from $220.00 to $240.00 and gave the stock a “neutral” rating in a report on Friday, October 23rd. Finally, Keefe, Bruyette & Woods raised their price objective on shares of AppFolio from $233.00 to $255.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 21st. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $250.00.

AppFolio Company Profile

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.