Don Rigler Sells 150 Shares of AppFolio (NASDAQ:APPF) Stock

AppFolio, Inc. (NASDAQ:APPF) insider Don Rigler sold 150 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $195.87, for a total transaction of $29,380.50. Following the completion of the transaction, the insider owned 4,132 shares of the company’s stock, valued at approximately $809,334.84. This trade represents a 3.50% decrease in their position. The sale was disclosed in a document filed 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.

Don Rigler also recently made the following trade(s):

• On Friday, June 12th, Don Rigler sold 150 shares of AppFolio stock. The stock was sold at an average price of $159.56, for a total transaction of $23,934.00.

AppFolio Stock Up 3.7%

NASDAQ:APPF opened at $203.97 on Friday. AppFolio, Inc. has a 52 week low of $142.56 and a 52 week high of $288.73. The stock has a market capitalization of $7.22 billion, a PE ratio of 46.57 and a beta of 0.78. The stock’s 50-day moving average price is $172.09 and its 200-day moving average price is $170.49.

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on APPF shares. Benchmark increased their target price on AppFolio from $222.00 to $226.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Guggenheim initiated coverage on shares of AppFolio in a research report on Wednesday, July 22nd. They set a “buy” rating and a $232.00 price objective for the company. Piper Sandler dropped their target price on shares of AppFolio from $245.00 to $210.00 and set an “overweight” rating on the stock in a research report on Friday, April 24th. Weiss Ratings raised shares of AppFolio from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. Finally, UBS Group set a $210.00 price target 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 assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $243.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its stake in AppFolio by 101.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock worth $26,000 after purchasing an additional 56 shares during the last quarter. Optiver Holding B.V. raised its position in shares of 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 buying an additional 149 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of AppFolio by 48.8% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker’s stock valued at $53,000 after buying an additional 63 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of AppFolio in the third quarter worth about $55,000. Finally, Employees Retirement System of Texas purchased a new position in shares of AppFolio in the third quarter worth about $58,000. Hedge funds and other institutional investors own 85.19% of the company’s stock.

AppFolio News Summary

Here are the key news stories impacting AppFolio this week:

• Positive Sentiment: AppFolio’s latest quarter exceeded expectations: earnings reached $1.71 per share versus the $1.69 consensus estimate, while revenue of $281.12 million surpassed forecasts of $277.35 million. Revenue grew 19.3% year over year, and analysts expect full-year earnings of approximately $5.16 per share. AppFolio quarterly results
• Positive Sentiment: Analyst coverage remains constructive. AppFolio carries a consensus “Buy” rating and an average price target of $243.50, with Guggenheim initiating coverage at “Buy” and Benchmark raising its target to $226. AppFolio analyst ratings
• Positive Sentiment: Institutional ownership provides additional support: 85.19% of shares are held by institutions and hedge funds, while Vanguard, Principal Financial, T. Rowe Price and William Blair recently increased their positions. AppFolio institutional ownership
• Neutral Sentiment: Major shareholder Maurice J. Duca sold 17,900 shares for approximately $3.57 million across August 10–11. The transactions were executed under a pre-arranged Rule 10b5-1 plan, making them a less clear indicator of current confidence in AppFolio’s outlook. SEC filing for Maurice Duca
• Neutral Sentiment: General Counsel Evan Pickering sold 463 shares, while insider Don Rigler sold 150 shares. These sales were also made through pre-arranged plans, primarily to cover tax withholding on vested equity awards. SEC filings for AppFolio insider sales
• Negative Sentiment: Despite its growth, APPF trades at a relatively demanding valuation, with a price-to-earnings ratio near 45. Repeated insider selling could create a short-term overhang, while Piper Sandler’s lower $210 target and Wall Street Zen’s downgrade to “Hold” highlight downside risks if growth or execution weakens.

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.