Insider Selling: AppFolio (NASDAQ:APPF) Insider Sells 150 Shares of Stock

AppFolio, Inc. (NASDAQ:APPF) insider Don Rigler sold 150 shares of AppFolio stock in a transaction on Friday, June 12th. The shares were sold at an average price of $159.56, for a total value of $23,934.00. Following the completion of the sale, the insider owned 4,282 shares in the company, valued at $683,235.92. This represents a 3.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

AppFolio Stock Down 1.9%

NASDAQ APPF traded down $3.00 during trading hours on Monday, hitting $158.21. 276,517 shares of the company were exchanged, compared to its average volume of 368,443. The company has a 50 day moving average of $160.98 and a two-hundred day moving average of $187.34. The firm has a market cap of $5.59 billion, a price-to-earnings ratio of 37.67 and a beta of 0.80. AppFolio, Inc. has a 52-week low of $142.73 and a 52-week high of $326.04.

AppFolio (NASDAQ:APPF) last announced its earnings results on Thursday, April 23rd. The software maker reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.14. AppFolio had a return on equity of 32.35% and a net margin of 15.27%.The firm had revenue of $262.21 million during the quarter, compared to analysts’ expectations of $258.13 million. During the same period in the prior year, the firm earned $1.21 EPS. The business’s revenue was up 20.7% on a year-over-year basis. On average, equities research analysts predict that AppFolio, Inc. will post 5.04 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of APPF. Royal Bank of Canada boosted its position in shares of AppFolio by 22.6% during the 1st quarter. Royal Bank of Canada now owns 45,452 shares of the software maker’s stock worth $9,993,000 after acquiring an additional 8,367 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in AppFolio by 23.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 384 shares of the software maker’s stock worth $84,000 after buying an additional 73 shares during the last quarter. Millennium Management LLC grew its holdings in AppFolio by 237.7% in the first quarter. Millennium Management LLC now owns 18,055 shares of the software maker’s stock worth $3,970,000 after purchasing an additional 12,709 shares during the period. Jones Financial Companies Lllp grew its holdings in AppFolio by 164.8% in the first quarter. Jones Financial Companies Lllp now owns 654 shares of the software maker’s stock worth $144,000 after purchasing an additional 407 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in shares of AppFolio by 322.5% during the first quarter. Goldman Sachs Group Inc. now owns 66,777 shares of the software maker’s stock valued at $14,684,000 after buying an additional 50,970 shares during the last quarter. Institutional investors and hedge funds own 85.19% of the company’s stock.

Wall Street Analysts Forecast Growth

APPF has been the topic of several recent analyst reports. Wall Street Zen upgraded AppFolio from a “hold” rating to a “buy” rating in a research note on Sunday, March 15th. UBS Group set a $210.00 price target on AppFolio in a research note on Friday, April 24th. Weiss Ratings lowered AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday. Benchmark increased their price objective on AppFolio from $222.00 to $226.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Finally, Piper Sandler lowered their price target on AppFolio from $245.00 to $210.00 and set an “overweight” rating on the stock in a research report on Friday, April 24th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, AppFolio presently has a consensus rating of “Moderate Buy” and an average 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.