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 stock was sold at an average price of $158.12, for a total value of $312,761.36. Following the sale, the insider owned 21,545 shares in the company, valued at $3,406,695.40. The trade was a 8.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

AppFolio Price Performance

Shares of NASDAQ APPF traded down $4.18 during mid-day trading on Tuesday, reaching $155.38. 315,607 shares of the company’s stock were exchanged, compared to its average volume of 352,586. The firm has a market capitalization of $5.49 billion, a price-to-earnings ratio of 37.00 and a beta of 0.82. AppFolio, Inc. has a 52 week low of $142.73 and a 52 week high of $326.04. The firm has a 50-day moving average price of $164.99 and a two-hundred day moving average price of $200.87.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Thursday, April 23rd. The software maker reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.14. AppFolio had a return on equity of 32.35% and a net margin of 15.27%.The company had revenue of $262.21 million during the quarter, compared to analyst estimates of $258.13 million. During the same quarter last year, the firm posted $1.21 EPS. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. As a group, sell-side analysts forecast that AppFolio, Inc. will post 5.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. M&T Bank Corp increased its position in AppFolio by 1,643.8% in the fourth quarter. M&T Bank Corp now owns 96,153 shares of the software maker’s stock worth $22,370,000 after buying an additional 90,639 shares in the last quarter. Nordea Investment Management AB purchased a new stake in AppFolio in the fourth quarter worth about $8,795,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of AppFolio during the third quarter worth about $8,275,000. Citigroup Inc. grew its position in shares of AppFolio by 140.3% during the third quarter. Citigroup Inc. now owns 15,641 shares of the software maker’s stock worth $4,312,000 after purchasing an additional 9,132 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of AppFolio by 2.3% during the third quarter. Vanguard Group Inc. now owns 2,458,994 shares of the software maker’s stock worth $677,846,000 after purchasing an additional 55,277 shares in the last quarter. Institutional investors own 85.19% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on APPF. Benchmark boosted their price objective on AppFolio from $222.00 to $226.00 and gave the company a “buy” rating in a research report on Friday, April 24th. KeyCorp reissued an “overweight” rating on shares of AppFolio in a research note on Monday, February 2nd. Wells Fargo & Company reissued a “buy” rating on shares of AppFolio in a research note on Thursday, January 15th. Keefe, Bruyette & Woods reduced their target price on AppFolio from $311.00 to $290.00 and set an “outperform” rating on the stock in a research note on Friday, January 30th. Finally, JPMorgan Chase & Co. reduced their target price on AppFolio from $330.00 to $300.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, AppFolio presently has a consensus rating of “Moderate Buy” and a consensus price target of $252.29.

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.