Insider Selling: AppFolio (NASDAQ:APPF) CEO Sells $1,181,829.99 in Stock

AppFolio, Inc. (NASDAQ:APPF) CEO William Shane Trigg sold 6,963 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $169.73, for a total transaction of $1,181,829.99. Following the sale, the chief executive officer directly owned 52,920 shares of the company’s stock, valued at approximately $8,982,111.60. The trade was a 11.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

AppFolio Price Performance

NASDAQ APPF opened at $172.23 on Friday. The stock’s 50 day simple moving average is $211.74 and its 200 day simple moving average is $240.13. AppFolio, Inc. has a one year low of $166.36 and a one year high of $326.04. The firm has a market cap of $6.20 billion, a PE ratio of 44.39 and a beta of 0.75.

AppFolio (NASDAQ:APPF) last announced its earnings results on Thursday, January 29th. The software maker reported $1.39 EPS for the quarter, topping the consensus estimate of $1.22 by $0.17. AppFolio had a return on equity of 29.79% and a net margin of 14.82%.The company had revenue of $248.19 million for the quarter, compared to analysts’ expectations of $246.56 million. During the same quarter in the prior year, the business earned $0.92 earnings per share. The business’s revenue for the quarter was up 21.7% on a year-over-year basis. As a group, equities analysts expect that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. ProShare Advisors LLC raised its holdings in AppFolio by 3.6% in the second quarter. ProShare Advisors LLC now owns 1,078 shares of the software maker’s stock worth $248,000 after purchasing an additional 37 shares during the period. Truist Financial Corp increased its position in shares of AppFolio by 1.1% in the 3rd quarter. Truist Financial Corp now owns 3,928 shares of the software maker’s stock valued at $1,083,000 after buying an additional 43 shares in the last quarter. State of New Jersey Common Pension Fund D raised its stake in AppFolio by 0.5% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 9,041 shares of the software maker’s stock worth $2,082,000 after buying an additional 44 shares during the period. Amalgamated Bank lifted its holdings in AppFolio by 0.4% during the third quarter. Amalgamated Bank now owns 11,068 shares of the software maker’s stock worth $3,051,000 after acquiring an additional 46 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC lifted its holdings in AppFolio by 3.1% during the third quarter. Linden Thomas Advisory Services LLC now owns 1,515 shares of the software maker’s stock worth $418,000 after acquiring an additional 46 shares in the last quarter. Institutional investors and hedge funds own 85.19% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on APPF. Wall Street Zen raised AppFolio from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Piper Sandler dropped their target price on AppFolio from $350.00 to $245.00 and set an “overweight” rating for the company in a research report on Friday, January 30th. Weiss Ratings lowered AppFolio from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, January 16th. William Blair reiterated an “outperform” rating on shares of AppFolio in a research report on Friday, January 30th. Finally, DA Davidson cut their target price on shares of AppFolio from $325.00 to $275.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, AppFolio presently has a consensus rating of “Moderate Buy” and a consensus target price of $270.83.

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.