William Shane Trigg Sells 2,057 Shares of AppFolio (NASDAQ:APPF) Stock

AppFolio, Inc. (NASDAQ:APPF) CEO William Shane Trigg sold 2,057 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $205.00, for a total value of $421,685.00. Following the sale, the chief executive officer owned 70,772 shares of the company’s stock, valued at approximately $14,508,260. This trade represents a 2.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

AppFolio Trading Down 4.0%

APPF stock traded down $8.25 during trading on Monday, reaching $195.96. The stock had a trading volume of 344,254 shares, compared to its average volume of 396,183. The firm has a market cap of $6.94 billion, a PE ratio of 44.74 and a beta of 0.78. The stock’s 50 day moving average is $172.83 and its two-hundred day moving average is $170.38. AppFolio, Inc. has a 52 week low of $142.56 and a 52 week high of $288.73.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, July 23rd. The software maker reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.02. AppFolio had a return on equity of 32.42% and a net margin of 15.13%.The business had revenue of $281.12 million during the quarter, compared to the consensus estimate of $277.35 million. During the same period in the previous year, the company posted $1.38 EPS. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. On average, research analysts anticipate that AppFolio, Inc. will post 5.16 EPS for the current year.

Institutional Investors Weigh In On AppFolio

A number of institutional investors and hedge funds have recently added to or reduced their stakes in APPF. EverSource Wealth Advisors LLC lifted its holdings in AppFolio by 101.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock valued at $26,000 after purchasing an additional 56 shares in the last quarter. Optiver Holding B.V. increased its stake in shares of AppFolio by 827.8% in the first quarter. Optiver Holding B.V. now owns 167 shares of the software maker’s stock worth $26,000 after purchasing an additional 149 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of AppFolio by 48.8% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker’s stock worth $53,000 after purchasing an additional 63 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of AppFolio during the 3rd quarter valued at $55,000. Finally, Employees Retirement System of Texas purchased a new position in shares of AppFolio during the 3rd quarter valued at $58,000. Institutional investors own 85.19% of the company’s stock.

Analyst Ratings Changes

APPF has been the subject of a number of research reports. Benchmark upped their target price on shares of AppFolio from $222.00 to $226.00 and gave the company a “buy” rating in a report on Friday, April 24th. UBS Group set a $210.00 price target on shares of AppFolio in a research note on Friday, April 24th. KeyCorp reissued an “overweight” rating on shares of AppFolio in a research report on Monday, July 6th. DA Davidson set a $225.00 target price on AppFolio in a report on Friday, July 24th. Finally, Wall Street Zen downgraded AppFolio from a “buy” rating to a “hold” rating in a research report on Sunday, July 26th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $243.50.

About AppFolio

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.