AppFolio, Inc. (NASDAQ:APPF) Director Acquires $870,920.00 in Stock

AppFolio, Inc. (NASDAQ:APPF) Director Robert Donald Casey III acquired 4,000 shares of the company’s stock in a transaction on Friday, June 6th. The shares were bought at an average price of $217.73 per share, for a total transaction of $870,920.00. Following the completion of the purchase, the director now owns 27,856 shares in the company, valued at approximately $6,065,086.88. This represents a 16.77% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

AppFolio Trading Up 0.3%

Shares of AppFolio stock traded up $0.70 during trading hours on Monday, reaching $217.95. The stock had a trading volume of 258,376 shares, compared to its average volume of 272,130. The firm has a market capitalization of $7.85 billion, a PE ratio of 39.27 and a beta of 0.87. AppFolio, Inc. has a twelve month low of $189.01 and a twelve month high of $274.56. The stock’s 50 day moving average is $215.10 and its 200 day moving average is $229.84.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Thursday, April 24th. The software maker reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). The firm 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 company’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.05 earnings per share. As a group, sell-side analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on APPF. Piper Sandler reaffirmed a “neutral” rating and issued a $265.00 price target on shares of AppFolio in a report on Wednesday, April 23rd. Keefe, Bruyette & Woods reduced their price target on shares of AppFolio from $210.00 to $205.00 and set an “underweight” rating on the stock in a research report on Friday, April 25th. Finally, DA Davidson upgraded shares of AppFolio to a “strong-buy” rating in a research note on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $274.43.

Institutional Trading of AppFolio

Several institutional investors and hedge funds have recently modified their holdings of APPF. Colonial Trust Co SC acquired a new position in shares of AppFolio in the 4th quarter valued at about $28,000. Fifth Third Bancorp increased its position in AppFolio by 53.0% in the 1st quarter. Fifth Third Bancorp now owns 179 shares of the software maker’s stock valued at $39,000 after acquiring an additional 62 shares during the period. Versant Capital Management Inc lifted its stake in shares of AppFolio by 4,975.0% in the 1st quarter. Versant Capital Management Inc now owns 203 shares of the software maker’s stock worth $45,000 after acquiring an additional 199 shares during the period. Arcadia Investment Management Corp MI bought a new stake in AppFolio in the fourth quarter worth about $50,000. Finally, Aster Capital Management DIFC Ltd increased its stake in AppFolio by 10,300.0% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 208 shares of the software maker’s stock worth $51,000 after purchasing an additional 206 shares in the last quarter. Hedge funds and other institutional investors own 85.19% of the company’s stock.

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.