Insider Selling: AppFolio, Inc. (NASDAQ:APPF) CEO Sells 5,900 Shares of Stock

AppFolio, Inc. (NASDAQ:APPF) CEO William Shane Trigg sold 5,900 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $211.45, for a total value of $1,247,555.00. Following the transaction, the chief executive officer now directly owns 70,647 shares of the company’s stock, valued at approximately $14,938,308.15. This trade represents a 7.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

AppFolio Price Performance

Shares of APPF stock opened at $213.47 on Wednesday. The stock has a market cap of $7.69 billion, a P/E ratio of 38.46 and a beta of 0.99. The company has a fifty day moving average price of $217.24 and a two-hundred day moving average price of $231.39. AppFolio, Inc. has a one year low of $189.01 and a one year high of $274.56.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, April 24th. The software maker reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). AppFolio had a net margin of 25.69% and a return on equity of 26.21%. The firm had revenue of $217.70 million during the quarter, compared to analyst estimates of $220.95 million. During the same quarter in the prior year, the business earned $1.05 EPS. The business’s revenue was up 15.9% compared to the same quarter last year. As a group, equities research analysts anticipate that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

Institutional Investors Weigh In On AppFolio

Hedge funds have recently bought and sold shares of the company. Colonial Trust Co SC acquired a new stake in shares of AppFolio in the fourth quarter valued at approximately $28,000. Fifth Third Bancorp lifted its holdings in AppFolio by 53.0% during the 1st quarter. Fifth Third Bancorp now owns 179 shares of the software maker’s stock valued at $39,000 after purchasing an additional 62 shares during the last quarter. UMB Bank n.a. lifted its holdings in AppFolio by 193.0% during the 4th quarter. UMB Bank n.a. now owns 167 shares of the software maker’s stock valued at $41,000 after purchasing an additional 110 shares during the last quarter. Versant Capital Management Inc lifted its holdings in AppFolio by 4,975.0% during the 1st quarter. Versant Capital Management Inc now owns 203 shares of the software maker’s stock valued at $45,000 after purchasing an additional 199 shares during the last quarter. Finally, Arcadia Investment Management Corp MI acquired a new stake in AppFolio during the 4th quarter valued at $50,000. 85.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. DA Davidson upgraded shares of AppFolio to a “strong-buy” rating in a report on Tuesday, May 13th. Piper Sandler restated a “neutral” rating and set a $265.00 price objective on shares of AppFolio in a research note on Wednesday, April 23rd. William Blair restated an “outperform” rating on shares of AppFolio in a research note on Friday, January 31st. Keefe, Bruyette & Woods reduced their price objective on shares of AppFolio from $210.00 to $205.00 and set an “underweight” rating for the company in a research note on Friday, April 25th. Finally, Stephens reissued an “overweight” rating and set a $295.00 price target on shares of AppFolio in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, AppFolio presently has a consensus rating of “Moderate Buy” and an average price target of $274.43.

AppFolio Company Profile

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.