William Shane Trigg Sells 3,584 Shares of AppFolio (NASDAQ:APPF) Stock

AppFolio, Inc. (NASDAQ:APPF) CEO William Shane Trigg sold 3,584 shares of AppFolio stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $152.50, for a total transaction of $546,560.00. Following the completion of the sale, the chief executive officer owned 76,547 shares of the company’s stock, valued at $11,673,417.50. This represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

AppFolio Stock Up 2.2%

Shares of AppFolio stock opened at $163.39 on Thursday. AppFolio, Inc. has a twelve month low of $142.73 and a twelve month high of $326.04. The company’s 50 day moving average is $161.10 and its 200 day moving average is $197.26. The company has a market cap of $5.78 billion, a price-to-earnings ratio of 38.90 and a beta of 0.82.

AppFolio (NASDAQ:APPF) last announced its earnings results on Thursday, April 23rd. The software maker reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.14. The business had revenue of $262.21 million during the quarter, compared to analyst estimates of $258.13 million. AppFolio had a net margin of 15.27% and a return on equity of 32.35%. The company’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.21 EPS. Sell-side analysts expect that AppFolio, Inc. will post 5.04 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on APPF shares. UBS Group set a $210.00 price objective on shares of AppFolio in a research note on Friday, April 24th. Benchmark boosted their target price on shares of AppFolio from $222.00 to $226.00 and gave the company a “buy” rating in a research report on Friday, April 24th. JPMorgan Chase & Co. reduced their target price on shares of AppFolio from $330.00 to $300.00 and set an “overweight” rating for the company in a report on Friday, January 30th. KeyCorp reiterated an “overweight” rating on shares of AppFolio in a research report on Monday, February 2nd. Finally, Weiss Ratings downgraded shares of AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, April 29th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $252.29.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Principal Financial Group Inc. increased its stake in AppFolio by 40.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,166,752 shares of the software maker’s stock worth $321,637,000 after buying an additional 333,861 shares in the last quarter. Lead Edge Capital Management LLC purchased a new position in shares of AppFolio in the first quarter valued at about $33,183,000. Hudson Way Capital Management LLC bought a new position in shares of AppFolio in the third quarter worth about $53,367,000. Greenstone Partners & Co. LLC bought a new position in shares of AppFolio in the fourth quarter worth about $43,647,000. Finally, Millennium Management LLC grew its position in shares of AppFolio by 158.6% during the fourth quarter. Millennium Management LLC now owns 281,495 shares of the software maker’s stock worth $65,490,000 after purchasing an additional 172,627 shares in the last quarter. 85.19% of the stock is owned by hedge funds and other institutional investors.

AppFolio Company Profile

AppFolio, Inc is a Santa Barbara–based provider of cloud-based software solutions for the property management and legal industries. Founded in 2006 by former software executives, the company went public on the NASDAQ under the symbol APPF in 2015. Its original offering, AppFolio Property Manager, automates accounting, marketing, leasing, and maintenance functions for residential, commercial, student housing, and community association managers.

In 2019, AppFolio expanded its portfolio with the acquisition of MyCase, a web-based legal practice management platform for small to mid-size law firms.