Insider Selling: AppFolio, Inc. (NASDAQ:APPF) CEO Sells 5,900 Shares of Stock

AppFolio, Inc. (NASDAQ:APPF) CEO William Shane Trigg sold 5,900 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $211.45, for a total value of $1,247,555.00. Following the completion of the transaction, the chief executive officer now directly owns 70,647 shares in the company, valued at approximately $14,938,308.15. This trade represents a 7.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

AppFolio Stock Performance

Shares of AppFolio stock opened at $206.19 on Thursday. AppFolio, Inc. has a 52-week low of $189.01 and a 52-week high of $274.56. The firm has a market cap of $7.43 billion, a PE ratio of 37.15 and a beta of 0.99. The business’s 50 day simple moving average is $217.03 and its 200 day simple moving average is $231.22.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Thursday, April 24th. The software maker reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.02). The business had revenue of $217.70 million during the quarter, compared to analyst estimates of $220.95 million. AppFolio had a net margin of 25.69% and a return on equity of 26.21%. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.05 earnings per share. As a group, equities research analysts predict that AppFolio, Inc. will post 3.96 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in APPF. South Dakota Investment Council increased its holdings in AppFolio by 94.4% during the fourth quarter. South Dakota Investment Council now owns 3,500 shares of the software maker’s stock worth $864,000 after buying an additional 1,700 shares during the last quarter. Bryce Point Capital LLC acquired a new position in AppFolio during the fourth quarter worth approximately $1,392,000. Hsbc Holdings PLC acquired a new position in shares of AppFolio during the 4th quarter worth approximately $557,000. Sei Investments Co. increased its holdings in shares of AppFolio by 9.4% during the 4th quarter. Sei Investments Co. now owns 45,826 shares of the software maker’s stock worth $11,306,000 after acquiring an additional 3,935 shares during the last quarter. Finally, SYM FINANCIAL Corp acquired a new position in shares of AppFolio during the 4th quarter worth approximately $292,000. Institutional investors and hedge funds own 85.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on APPF. William Blair reissued an “outperform” rating on shares of AppFolio in a research note on Friday, January 31st. Piper Sandler reiterated a “neutral” rating and issued a $265.00 target price on shares of AppFolio in a report on Wednesday, April 23rd. Keefe, Bruyette & Woods dropped their price objective on AppFolio from $210.00 to $205.00 and set an “underweight” rating on the stock in a research note on Friday, April 25th. Stephens reaffirmed an “overweight” rating and set a $295.00 price target on shares of AppFolio in a research report on Friday, January 31st. Finally, DA Davidson upgraded shares of AppFolio to a “strong-buy” rating in a report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AppFolio presently has a consensus rating of “Moderate Buy” and a consensus target price of $274.43.

AppFolio Company Profile

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry in the United States. The company provides a cloud-based platform that enables users to automate and optimize common workflows; tools that assist with leasing, maintenance, and accounting; and other technology and services offered by third parties.