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

AppFolio, Inc. (NASDAQ:APPF) CEO William Shane Trigg sold 6,963 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $169.73, for a total transaction of $1,181,829.99. Following the completion of 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 at this link.

AppFolio Price Performance

Shares of AppFolio stock traded down $0.40 on Thursday, reaching $176.38. 263,560 shares of the company traded hands, compared to its average volume of 431,172. The firm has a market capitalization of $6.35 billion, a PE ratio of 45.46 and a beta of 0.75. The company has a 50 day moving average of $213.99 and a 200 day moving average of $242.13. AppFolio, Inc. has a 52 week low of $166.36 and a 52 week high of $326.04.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings data on Thursday, January 29th. The software maker reported $1.39 EPS for the quarter, beating the consensus estimate of $1.22 by $0.17. AppFolio had a return on equity of 29.79% and a net margin of 14.82%.The business had revenue of $248.19 million for the quarter, compared to the consensus estimate of $246.56 million. During the same quarter in the prior year, the business earned $0.92 earnings per share. AppFolio’s revenue for the quarter was up 21.7% on a year-over-year basis. As a group, analysts anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC purchased a new position in shares of AppFolio during the third quarter worth approximately $8,275,000. Highland Capital Management LLC purchased a new position in AppFolio in the 3rd quarter worth $1,435,000. Mission Wealth Management LP raised its position in AppFolio by 16.7% in the 3rd quarter. Mission Wealth Management LP now owns 49,201 shares of the software maker’s stock worth $13,563,000 after purchasing an additional 7,042 shares during the period. Quantum Portfolio Management LLC lifted its stake in AppFolio by 134.6% in the third quarter. Quantum Portfolio Management LLC now owns 10,002 shares of the software maker’s stock worth $2,757,000 after purchasing an additional 5,739 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in AppFolio by 40.1% during the third quarter. Principal Financial Group Inc. now owns 1,166,752 shares of the software maker’s stock valued at $321,637,000 after buying an additional 333,861 shares during the period. 85.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on APPF shares. William Blair reiterated an “outperform” rating on shares of AppFolio in a research report on Friday, January 30th. Wall Street Zen upgraded shares of AppFolio from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Piper Sandler cut their price objective on shares of AppFolio from $350.00 to $245.00 and set an “overweight” rating for the company in a report on Friday, January 30th. Wells Fargo & Company reissued a “buy” rating on shares of AppFolio in a report on Thursday, January 15th. Finally, KeyCorp restated an “overweight” rating on shares of AppFolio in a research report on Monday, February 2nd. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $270.83.

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.