AppFolio (NASDAQ:APPF) CFO Timothy Mathias Eaton Sells 2,585 Shares

AppFolio, Inc. (NASDAQ:APPF) CFO Timothy Mathias Eaton sold 2,585 shares of AppFolio stock in a transaction on Friday, June 12th. The stock was sold at an average price of $160.07, for a total transaction of $413,780.95. Following the sale, the chief financial officer owned 18,036 shares in the company, valued at $2,887,022.52. This represents a 12.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

AppFolio Stock Down 1.9%

APPF traded down $3.00 during trading on Monday, reaching $158.21. 276,517 shares of the company’s stock were exchanged, compared to its average volume of 368,443. AppFolio, Inc. has a fifty-two week low of $142.73 and a fifty-two week high of $326.04. The business has a 50 day moving average price of $160.98 and a 200 day moving average price of $187.34. The company has a market capitalization of $5.59 billion, a P/E ratio of 37.67 and a beta of 0.80.

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

Institutional Trading of AppFolio

Several institutional investors and hedge funds have recently added to or reduced their stakes in APPF. M&T Bank Corp lifted its stake in AppFolio by 1,643.8% in the 4th quarter. M&T Bank Corp now owns 96,153 shares of the software maker’s stock valued at $22,370,000 after acquiring an additional 90,639 shares in the last quarter. Nordea Investment Management AB bought a new stake in AppFolio in the 4th quarter valued at approximately $8,795,000. Vanguard Group Inc. lifted its stake in AppFolio by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 2,560,460 shares of the software maker’s stock valued at $595,691,000 after acquiring an additional 101,466 shares in the last quarter. Citigroup Inc. raised its stake in shares of AppFolio by 140.3% during the 3rd quarter. Citigroup Inc. now owns 15,641 shares of the software maker’s stock worth $4,312,000 after purchasing an additional 9,132 shares in the last quarter. Finally, Light Street Capital Management LLC bought a new stake in shares of AppFolio during the 3rd quarter worth approximately $5,513,000. 85.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on APPF. Wall Street Zen raised AppFolio from a “hold” rating to a “buy” rating in a report on Sunday, March 15th. Piper Sandler cut their price target on AppFolio from $245.00 to $210.00 and set an “overweight” rating for the company in a report on Friday, April 24th. UBS Group set a $210.00 price target on AppFolio in a report on Friday, April 24th. Weiss Ratings cut AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday. Finally, Benchmark lifted their price target on AppFolio from $222.00 to $226.00 and gave the company a “buy” rating in a report on Friday, April 24th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $252.29.

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.