Insider Selling: AppFolio (NASDAQ:APPF) Insider Sells $382,970.28 in Stock

AppFolio, Inc. (NASDAQ:APPF) insider Matthew Mazza sold 1,364 shares of the firm’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $280.77, for a total value of $382,970.28. Following the transaction, the insider directly owned 26,651 shares of the company’s stock, valued at approximately $7,482,801.27. This represents a 4.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

AppFolio Stock Up 0.2%

Shares of NASDAQ:APPF opened at $276.75 on Thursday. The firm has a market cap of $9.92 billion, a P/E ratio of 49.95 and a beta of 0.89. AppFolio, Inc. has a 12-month low of $189.01 and a 12-month high of $326.04. The business has a fifty day simple moving average of $272.35 and a 200 day simple moving average of $237.68.

AppFolio (NASDAQ:APPF) last announced its earnings results on Thursday, July 31st. The software maker reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.11. The business had revenue of $235.58 million during the quarter, compared to analyst estimates of $230.10 million. AppFolio had a return on equity of 26.32% and a net margin of 23.54%.AppFolio’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period last year, the company earned $1.12 EPS. AppFolio has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that AppFolio, Inc. will post 3.96 EPS for the current year.

Hedge Funds Weigh In On AppFolio

Several hedge funds have recently modified their holdings of APPF. Fifth Third Bancorp lifted its position in shares of AppFolio by 53.0% during the 1st quarter. Fifth Third Bancorp now owns 179 shares of the software maker’s stock worth $39,000 after buying an additional 62 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of AppFolio by 4,975.0% in the 1st quarter. Versant Capital Management Inc now owns 203 shares of the software maker’s stock worth $45,000 after purchasing an additional 199 shares during the period. Huntington National Bank raised its holdings in shares of AppFolio by 58.7% in the 2nd quarter. Huntington National Bank now owns 200 shares of the software maker’s stock worth $46,000 after purchasing an additional 74 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of AppFolio in the 2nd quarter worth approximately $52,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in AppFolio during the 1st quarter valued at $55,000. Institutional investors own 85.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on APPF shares. DA Davidson reiterated a “buy” rating and set a $350.00 price target on shares of AppFolio in a report on Friday, August 1st. Piper Sandler upgraded AppFolio from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $240.00 to $350.00 in a report on Friday, August 1st. Finally, Keefe, Bruyette & Woods increased their price target on AppFolio from $295.00 to $311.00 and gave the stock a “market perform” rating in a report on Wednesday, September 3rd. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, AppFolio currently has an average rating of “Moderate Buy” and an average price target of $311.80.

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.