William Shane Trigg Sells 5,900 Shares of AppFolio, Inc. (NASDAQ:APPF) Stock

AppFolio, Inc. (NASDAQ:APPF) CEO William Shane Trigg sold 5,900 shares of AppFolio stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $211.45, for a total value of $1,247,555.00. Following the sale, the chief executive officer now directly owns 70,647 shares in the company, valued at approximately $14,938,308.15. This trade represents a 7.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

AppFolio Stock Down 3.4%

NASDAQ:APPF opened at $206.19 on Thursday. The firm has a market cap of $7.43 billion, a PE ratio of 37.15 and a beta of 0.99. AppFolio, Inc. has a 12 month low of $189.01 and a 12 month high of $274.56. The company’s 50-day moving average price is $217.03 and its two-hundred day moving average price is $231.22.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings data on Thursday, April 24th. The software maker reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). The business had revenue of $217.70 million during the quarter, compared to analyst estimates of $220.95 million. AppFolio had a return on equity of 26.21% and a net margin of 25.69%. AppFolio’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.05 EPS. On average, research analysts expect that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

Hedge Funds Weigh In On AppFolio

Large investors have recently modified their holdings of the stock. Capital Impact Advisors LLC acquired a new position in AppFolio during the 1st quarter worth $5,819,000. Bayforest Capital Ltd lifted its position in AppFolio by 41.9% during the 1st quarter. Bayforest Capital Ltd now owns 1,534 shares of the software maker’s stock valued at $337,000 after purchasing an additional 453 shares during the period. Woodline Partners LP lifted its position in AppFolio by 2.9% during the 1st quarter. Woodline Partners LP now owns 1,754 shares of the software maker’s stock valued at $386,000 after purchasing an additional 50 shares during the period. United Services Automobile Association acquired a new position in AppFolio during the 1st quarter valued at about $311,000. Finally, Goldman Sachs Group Inc. lifted its position in AppFolio by 322.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 66,777 shares of the software maker’s stock valued at $14,684,000 after purchasing an additional 50,970 shares during the period. 85.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

APPF has been the topic of several recent research reports. William Blair reissued an “outperform” rating on shares of AppFolio in a report on Friday, January 31st. DA Davidson upgraded shares of AppFolio to a “strong-buy” rating in a research note on Tuesday, May 13th. Piper Sandler reiterated a “neutral” rating and set a $265.00 target price on shares of AppFolio in a research report on Wednesday, April 23rd. Stephens reiterated an “overweight” rating and set a $295.00 target price on shares of AppFolio in a research report on Friday, January 31st. Finally, Keefe, Bruyette & Woods decreased their price objective on AppFolio from $210.00 to $205.00 and set an “underweight” rating on the stock in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $274.43.

AppFolio Company Profile

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry in the United States. The company provides a cloud-based platform that enables users to automate and optimize common workflows; tools that assist with leasing, maintenance, and accounting; and other technology and services offered by third parties.