AppFolio (NASDAQ:APPF) CEO William Shane Trigg Sells 6,963 Shares

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 value of $1,181,829.99. Following the transaction, the chief executive officer owned 52,920 shares in the company, valued at approximately $8,982,111.60. The trade was a 11.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

AppFolio Trading Down 0.2%

APPF stock traded down $0.40 during midday trading on Thursday, hitting $176.38. The company had a trading volume of 263,560 shares, compared to its average volume of 431,172. The stock has a market cap of $6.35 billion, a price-to-earnings ratio of 45.46 and a beta of 0.75. AppFolio, Inc. has a 52 week low of $166.36 and a 52 week high of $326.04. The stock’s 50 day moving average price is $213.99 and its 200 day moving average price is $242.13.

AppFolio (NASDAQ:APPF) last issued 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 net margin of 14.82% and a return on equity of 29.79%. The company had revenue of $248.19 million for the quarter, compared to the consensus estimate of $246.56 million. During the same period in the previous year, the firm earned $0.92 earnings per share. The firm’s revenue for the quarter was up 21.7% on a year-over-year basis. Analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on APPF shares. Weiss Ratings lowered shares of AppFolio from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, January 16th. UBS Group set a $260.00 price objective on AppFolio and gave the stock a “buy” rating in a report on Friday, January 30th. Keefe, Bruyette & Woods cut their price objective on AppFolio from $311.00 to $290.00 and set an “outperform” rating on the stock in a research report on Friday, January 30th. William Blair reissued an “outperform” rating on shares of AppFolio in a research note on Friday, January 30th. Finally, Wells Fargo & Company reaffirmed a “buy” rating on shares of AppFolio in a research note on Thursday, January 15th. Eight investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, AppFolio currently has a consensus rating of “Moderate Buy” and a consensus target price of $270.83.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Royal Bank of Canada boosted its position in shares of AppFolio by 22.6% during the first quarter. Royal Bank of Canada now owns 45,452 shares of the software maker’s stock valued at $9,993,000 after purchasing an additional 8,367 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in AppFolio by 23.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 384 shares of the software maker’s stock valued at $84,000 after buying an additional 73 shares during the period. Millennium Management LLC lifted its position in AppFolio by 237.7% during the first quarter. Millennium Management LLC now owns 18,055 shares of the software maker’s stock valued at $3,970,000 after buying an additional 12,709 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of AppFolio by 164.8% during the 1st quarter. Jones Financial Companies Lllp now owns 654 shares of the software maker’s stock valued at $144,000 after buying an additional 407 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of AppFolio by 322.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 66,777 shares of the software maker’s stock worth $14,684,000 after buying an additional 50,970 shares during the period. Institutional investors own 85.19% of the company’s stock.

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.