AppFolio (NASDAQ:APPF) General Counsel Sells $132,523.89 in Stock

AppFolio, Inc. (NASDAQ:APPF) General Counsel Evan Pickering sold 661 shares of AppFolio stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $200.49, for a total value of $132,523.89. Following the transaction, the general counsel owned 5,894 shares of the company’s stock, valued at $1,181,688.06. The trade was a 10.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, June 12th, Evan Pickering sold 660 shares of AppFolio stock. The shares were sold at an average price of $155.25, for a total value of $102,465.00.

AppFolio Price Performance

APPF opened at $198.74 on Monday. AppFolio, Inc. has a 12-month low of $142.56 and a 12-month high of $300.25. The stock has a market cap of $7.04 billion, a price-to-earnings ratio of 45.37 and a beta of 0.78. The business has a 50 day moving average of $169.70 and a 200-day moving average of $170.96.

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

Institutional Investors Weigh In On AppFolio

A number of institutional investors have recently modified their holdings of APPF. Bank of New York Mellon Corp acquired a new position in shares of AppFolio in the second quarter valued at about $23,524,000. Handelsbanken Fonder AB raised its stake in AppFolio by 62.9% in the 2nd quarter. Handelsbanken Fonder AB now owns 10,880 shares of the software maker’s stock worth $1,745,000 after purchasing an additional 4,200 shares in the last quarter. Chemistry Wealth Management LLC raised its stake in AppFolio by 17.1% in the 2nd quarter. Chemistry Wealth Management LLC now owns 1,879 shares of the software maker’s stock worth $301,000 after purchasing an additional 275 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in AppFolio in the 2nd quarter valued at about $3,095,000. Finally, Evanson Financial LLC bought a new stake in AppFolio in the 2nd quarter valued at about $962,000. Institutional investors own 85.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Benchmark increased their price objective on shares of AppFolio from $222.00 to $226.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Zacks Research raised shares of AppFolio from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. KeyCorp reiterated an “overweight” rating on shares of AppFolio in a research note on Monday, July 6th. Guggenheim began coverage on shares of AppFolio in a report on Wednesday, July 22nd. They issued a “buy” rating and a $232.00 price target on the stock. Finally, UBS Group set a $210.00 price objective on shares of AppFolio in a research report on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, AppFolio presently has an average rating of “Buy” and a consensus price target of $243.50.

About AppFolio

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.