Insider Selling: AppFolio (NASDAQ:APPF) Insider Sells $312,761.36 in Stock

AppFolio, Inc. (NASDAQ:APPF) insider Elizabeth Erin Barat sold 1,978 shares of AppFolio stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $158.12, for a total value of $312,761.36. Following the sale, the insider directly owned 21,545 shares of the company’s stock, valued at approximately $3,406,695.40. This trade represents a 8.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

AppFolio Stock Down 0.2%

Shares of NASDAQ APPF opened at $150.24 on Friday. The business has a fifty day simple moving average of $163.62 and a two-hundred day simple moving average of $199.60. The firm has a market cap of $5.31 billion, a PE ratio of 35.77 and a beta of 0.82. AppFolio, Inc. has a twelve month low of $142.73 and a twelve month high of $326.04.

AppFolio (NASDAQ:APPF) last issued 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. The business had revenue of $262.21 million during the quarter, compared to analyst estimates of $258.13 million. AppFolio had a return on equity of 32.35% and a net margin of 15.27%.AppFolio’s revenue was up 20.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.21 EPS. On average, research analysts expect that AppFolio, Inc. will post 5.04 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC grew its stake in AppFolio by 55.1% during the 1st quarter. Renaissance Technologies LLC now owns 227,280 shares of the software maker’s stock worth $35,869,000 after buying an additional 80,760 shares during the last quarter. Aristides Capital LLC purchased a new position in AppFolio during the 1st quarter worth $789,000. Arrowstreet Capital Limited Partnership grew its stake in AppFolio by 6.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 384,529 shares of the software maker’s stock worth $60,686,000 after buying an additional 23,428 shares during the last quarter. Atika Capital Management LLC grew its stake in AppFolio by 6.7% during the 1st quarter. Atika Capital Management LLC now owns 47,500 shares of the software maker’s stock worth $7,496,000 after buying an additional 3,000 shares during the last quarter. Finally, Inceptionr LLC purchased a new position in AppFolio during the 1st quarter worth $638,000. 85.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. JPMorgan Chase & Co. reduced their price target on AppFolio from $330.00 to $300.00 and set an “overweight” rating for the company in a research report on Friday, January 30th. Wells Fargo & Company reissued a “buy” rating on shares of AppFolio in a research report on Thursday, January 15th. UBS Group set a $210.00 price target on AppFolio in a research report on Friday, April 24th. Weiss Ratings lowered AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, April 29th. Finally, Keefe, Bruyette & Woods reduced their price target on AppFolio from $311.00 to $290.00 and set an “outperform” rating for the company in a research report on Friday, January 30th. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $252.29.

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.