AppFolio (NASDAQ:APPF) CEO Sells $546,560.00 in Stock

AppFolio, Inc. (NASDAQ:APPF) CEO William Shane Trigg sold 3,584 shares of AppFolio stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $152.50, for a total transaction of $546,560.00. Following the sale, the chief executive officer directly owned 76,547 shares in the company, valued at $11,673,417.50. The trade was a 4.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

AppFolio Trading Down 0.6%

Shares of APPF opened at $162.37 on Friday. The firm’s 50-day moving average price is $160.64 and its 200-day moving average price is $196.62. The firm has a market capitalization of $5.74 billion, a price-to-earnings ratio of 38.66 and a beta of 0.82. AppFolio, Inc. has a 1-year low of $142.73 and a 1-year high of $326.04.

AppFolio (NASDAQ:APPF) last announced its earnings results on Thursday, April 23rd. The software maker reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.14. AppFolio had a net margin of 15.27% and a return on equity of 32.35%. The firm had revenue of $262.21 million for the quarter, compared to analyst estimates of $258.13 million. During the same quarter in the previous year, the firm posted $1.21 EPS. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, research analysts forecast that AppFolio, Inc. will post 5.04 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on APPF. Weiss Ratings lowered shares of AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. dropped their price objective on shares of AppFolio from $330.00 to $300.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th. DA Davidson dropped their price objective on shares of AppFolio from $325.00 to $275.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Keefe, Bruyette & Woods dropped their price objective on shares of AppFolio from $311.00 to $290.00 and set an “outperform” rating on the stock in a research note on Friday, January 30th. Finally, Benchmark boosted their price objective on shares of AppFolio from $222.00 to $226.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, AppFolio currently has a consensus rating of “Moderate Buy” and an average target price of $252.29.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE lifted its stake in shares of AppFolio by 21.7% in the first quarter. Bank of America Corp DE now owns 345,603 shares of the software maker’s stock worth $54,543,000 after buying an additional 61,641 shares in the last quarter. Edgestream Partners L.P. lifted its stake in shares of AppFolio by 90.6% in the first quarter. Edgestream Partners L.P. now owns 70,110 shares of the software maker’s stock worth $11,065,000 after buying an additional 33,331 shares in the last quarter. South Dakota Investment Council lifted its stake in shares of AppFolio by 37.0% in the first quarter. South Dakota Investment Council now owns 6,660 shares of the software maker’s stock worth $1,051,000 after buying an additional 1,800 shares in the last quarter. Amundi lifted its stake in shares of AppFolio by 140.0% in the first quarter. Amundi now owns 3,859 shares of the software maker’s stock worth $609,000 after buying an additional 2,251 shares in the last quarter. Finally, California State Teachers Retirement System lifted its stake in shares of AppFolio by 24.8% in the first quarter. California State Teachers Retirement System now owns 25,766 shares of the software maker’s stock worth $4,066,000 after buying an additional 5,115 shares in the last quarter. Institutional investors own 85.19% of the company’s stock.

AppFolio Company Profile

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.