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

AppFolio, Inc. (NASDAQ:APPF) insider Don Rigler sold 150 shares of the business’s stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $230.39, for a total transaction of $34,558.50. Following the completion of the transaction, the insider directly owned 3,875 shares in the company, valued at $892,761.25. This trade represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.

AppFolio Stock Performance

APPF opened at $222.80 on Friday. AppFolio, Inc. has a fifty-two week low of $142.56 and a fifty-two week high of $251.09. The firm has a 50-day moving average of $212.25 and a 200 day moving average of $184.32. The firm has a market cap of $7.90 billion, a P/E ratio of 47.00 and a beta of 0.87.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Thursday, October 22nd. The software maker reported $1.82 EPS for the quarter, topping the consensus estimate of $1.79 by $0.03. The business had revenue of $295.69 million for the quarter, compared to analyst estimates of $294.46 million. AppFolio had a net margin of 15.62% and a return on equity of 33.56%. The company’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.31 earnings per share. Equities research analysts predict that AppFolio, Inc. will post 5.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on APPF. Weiss Ratings restated a “hold (c)” rating on shares of AppFolio in a research note on Wednesday, November 4th. Guggenheim increased their price target on AppFolio from $232.00 to $239.00 and gave the stock a “buy” rating in a research note on Friday, October 23rd. Zacks Research downgraded AppFolio from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 23rd. Keefe, Bruyette & Woods lifted their price objective on AppFolio from $233.00 to $255.00 and gave the stock an “outperform” rating in a report on Wednesday, October 21st. Finally, DA Davidson boosted their price objective on AppFolio from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $250.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio purchased a new stake in shares of AppFolio during the second quarter worth $1,043,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of AppFolio in the second quarter worth $3,004,000. Wellington Management Group LLP bought a new position in shares of AppFolio in the second quarter worth $36,063,000. Royal Bank of Canada boosted its holdings in shares of AppFolio by 19.6% in the first quarter. Royal Bank of Canada now owns 52,466 shares of the software maker’s stock worth $8,280,000 after acquiring an additional 8,582 shares during the period. Finally, California State Teachers Retirement System grew its position in shares of AppFolio by 24.8% in the first quarter. California State Teachers Retirement System now owns 25,766 shares of the software maker’s stock valued at $4,066,000 after purchasing an additional 5,115 shares in the last quarter. 85.19% of the stock is owned by institutional investors.

AppFolio Company Profile

AppFolio, Inc. provides cloud-based software for the real estate industry. Its products help property managers handle day-to-day operations, including accounting, leasing, marketing, maintenance, and communication with residents and owners. The company also offers software for real estate investment managers, supporting investor relations and investment operations. Its offerings include the AppFolio Property Manager platform, with solutions designed for businesses of different sizes and operating needs.