Insider Selling: AppFolio, Inc. (NASDAQ:APPF) CEO Sells 3,500 Shares of Stock

AppFolio, Inc. (NASDAQ:APPF) CEO William Shane Trigg sold 3,500 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $229.85, for a total transaction of $804,475.00. Following the completion of the transaction, the chief executive officer now owns 74,327 shares of the company’s stock, valued at $17,084,060.95. This represents a 4.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

AppFolio Stock Down 0.3 %

AppFolio stock traded down $0.78 during mid-day trading on Tuesday, hitting $228.55. The company’s stock had a trading volume of 152,730 shares, compared to its average volume of 276,653. AppFolio, Inc. has a twelve month low of $164.29 and a twelve month high of $274.56. The stock has a market capitalization of $8.30 billion, a P/E ratio of 63.88 and a beta of 0.83. The stock’s fifty day moving average price is $222.00 and its two-hundred day moving average price is $231.11.

AppFolio (NASDAQ:APPF) last announced its earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.26. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The company had revenue of $206.00 million for the quarter, compared to the consensus estimate of $199.11 million. During the same period in the previous year, the business earned $0.26 EPS. The company’s revenue was up 24.5% on a year-over-year basis. Equities analysts expect that AppFolio, Inc. will post 3.23 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on APPF. StockNews.com lowered AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd. Piper Sandler Companies reissued an “overweight” rating and issued a $300.00 price objective on shares of AppFolio in a research report on Friday, July 26th. Keefe, Bruyette & Woods lowered shares of AppFolio from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $255.00 to $193.00 in a research report on Tuesday, October 15th. KeyCorp reduced their price target on AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Finally, DA Davidson lifted their price objective on AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, AppFolio currently has an average rating of “Moderate Buy” and an average price target of $261.75.

Institutional Investors Weigh In On AppFolio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its holdings in shares of AppFolio by 85.7% during the third quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock worth $29,000 after acquiring an additional 54 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of AppFolio by 589.5% during the 2nd quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after purchasing an additional 112 shares in the last quarter. CWM LLC lifted its holdings in shares of AppFolio by 238.6% during the 2nd quarter. CWM LLC now owns 149 shares of the software maker’s stock valued at $36,000 after buying an additional 105 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of AppFolio by 291.3% in the 1st quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock valued at $44,000 after buying an additional 134 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in AppFolio by 688.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock worth $52,000 after buying an additional 186 shares during the last quarter. Hedge funds and other institutional investors own 62.34% of the company’s stock.

About AppFolio

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry in the United States. The company provides a cloud-based platform that enables users to automate and optimize common workflows; tools that assist with leasing, maintenance, and accounting; and other technology and services offered by third parties.