AppFolio (NASDAQ:APPF) General Counsel Evan Pickering Sells 141 Shares of Stock

AppFolio, Inc. (NASDAQ:APPF) General Counsel Evan Pickering sold 141 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $202.01, for a total transaction of $28,483.41. Following the sale, the general counsel directly owned 5,489 shares of the company’s stock, valued at approximately $1,108,832.89. This trade represents a 2.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Evan Pickering also recently made the following trade(s):

• On Wednesday, August 12th, Evan Pickering sold 322 shares of AppFolio stock. The shares were sold at an average price of $200.06, for a total transaction of $64,419.32.
• On Wednesday, August 5th, Evan Pickering sold 661 shares of AppFolio stock. The shares were sold at an average price of $200.49, for a total transaction of $132,523.89.
• On Friday, June 12th, Evan Pickering sold 660 shares of AppFolio stock. The stock was sold at an average price of $155.25, for a total transaction of $102,465.00.

AppFolio Stock Down 3.1%

AppFolio stock opened at $196.77 on Thursday. AppFolio, Inc. has a 52-week low of $142.56 and a 52-week high of $288.73. The firm has a fifty day moving average of $171.28 and a 200-day moving average of $170.60. The firm has a market capitalization of $6.97 billion, a P/E ratio of 44.92 and a beta of 0.78.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, July 23rd. The software maker reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.02. AppFolio had a net margin of 15.13% and a return on equity of 32.42%. The business had revenue of $281.12 million for the quarter, compared to the consensus estimate of $277.35 million. During the same quarter last year, the firm posted $1.38 EPS. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. On average, research analysts expect that AppFolio, Inc. will post 5.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

APPF has been the topic of a number of recent research reports. Benchmark boosted their price objective on AppFolio from $222.00 to $226.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Weiss Ratings upgraded AppFolio from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday. Zacks Research upgraded AppFolio from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. DA Davidson set a $225.00 price target on AppFolio in a research report on Friday, July 24th. Finally, UBS Group set a $210.00 price target on AppFolio in a report on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, AppFolio presently has an average rating of “Buy” and a consensus price target of $243.50.

Key Stories Impacting AppFolio

Here are the key news stories impacting AppFolio this week:

• Positive Sentiment: AppFolio’s latest quarterly performance remained solid: earnings of $1.71 per share exceeded the $1.69 consensus estimate, while revenue of $281.12 million topped expectations of $277.35 million and increased 19.3% year over year. AppFolio financial results
• Positive Sentiment: Analyst sentiment remains generally favorable, with a consensus Buy rating and an average price target of $243.50. Benchmark raised its target to $226, while KeyCorp maintained an Overweight rating. These targets suggest potential upside if AppFolio sustains its growth. AppFolio analyst ratings and price targets
• Neutral Sentiment: Major shareholder Maurice Duca sold a combined 15,900 shares on August 10–11 for approximately $3.57 million, reducing several reported positions. Because the sales were made under a 10b5-1 plan, they are less reliable as a signal of management’s current outlook. SEC filing for Maurice Duca’s AppFolio share sale
• Neutral Sentiment: General Counsel Evan Pickering sold 463 shares, and insider Don Rigler sold 150 shares. These transactions were also made under trading plans, with the stated purpose of covering tax-withholding obligations related to equity awards. SEC filings for AppFolio insider sales
• Negative Sentiment: The repeated insider selling can still create a short-term overhang, particularly as Duca reduced some holdings by meaningful percentages. AppFolio’s elevated valuation, including a P/E ratio near 45, also leaves the stock sensitive to concerns about growth and execution. Wall Street Zen’s downgrade to Hold and Piper Sandler’s lower $210 target reinforce those risks.

Institutional Trading of AppFolio

A number of hedge funds have recently made changes to their positions in APPF. EverSource Wealth Advisors LLC increased its stake in shares of AppFolio by 101.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock worth $26,000 after buying an additional 56 shares during the last quarter. Optiver Holding B.V. raised its holdings in AppFolio by 827.8% in the first quarter. Optiver Holding B.V. now owns 167 shares of the software maker’s stock valued at $26,000 after acquiring an additional 149 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in AppFolio by 48.8% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker’s stock valued at $53,000 after acquiring an additional 63 shares during the last quarter. Advisory Services Network LLC bought a new position in AppFolio during the 3rd quarter valued at $55,000. Finally, Employees Retirement System of Texas acquired a new position in AppFolio during the 3rd quarter worth $58,000. Institutional investors and hedge funds 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.