AppFolio (NASDAQ:APPF) Insider Sells 150 Shares of Stock

AppFolio, Inc. (NASDAQ:APPF) insider Don Rigler sold 150 shares of the business’s stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $230.39, for a total transaction of $34,558.50. Following the completion of the sale, the insider directly 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 can be accessed through this link. 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

APPF stock traded down $2.05 during mid-day trading on Thursday, reaching $222.80. The company had a trading volume of 221,448 shares, compared to its average volume of 383,836. The company has a market capitalization of $7.90 billion, a PE ratio of 47.00 and a beta of 0.87. The firm has a 50 day moving average of $212.28 and a 200 day moving average of $184.30. AppFolio, Inc. has a 12 month low of $142.56 and a 12 month high of $251.09.

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

Analyst Ratings Changes

Several research firms have commented on APPF. Keefe, Bruyette & Woods raised their price objective on AppFolio from $233.00 to $255.00 and gave the stock an “outperform” rating in a report on Wednesday, October 21st. Zacks Research lowered AppFolio from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 23rd. DA Davidson upped their target price on AppFolio from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, October 23rd. Guggenheim increased their price target on AppFolio from $232.00 to $239.00 and gave the stock a “buy” rating in a research report on Friday, October 23rd. Finally, UBS Group raised their price target on AppFolio from $220.00 to $240.00 and gave the company a “neutral” rating in a research note on Friday, October 23rd. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $250.00.

Institutional Investors Weigh In On AppFolio

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

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.