AppFolio (NASDAQ:APPF) CEO William Shane Trigg Sells 3,584 Shares

AppFolio, Inc. (NASDAQ:APPF) CEO William Shane Trigg sold 3,584 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $152.50, for a total transaction of $546,560.00. Following the sale, the chief executive officer directly owned 76,547 shares of the company’s stock, valued at $11,673,417.50. This represents a 4.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

AppFolio Trading Up 1.2%

Shares of APPF traded up $1.91 during midday trading on Tuesday, hitting $159.82. The stock had a trading volume of 386,876 shares, compared to its average volume of 386,714. The business has a 50-day simple moving average of $162.25 and a two-hundred day simple moving average of $198.33. The firm has a market cap of $5.65 billion, a P/E ratio of 38.05 and a beta of 0.82. AppFolio, Inc. has a fifty-two week low of $142.73 and a fifty-two week high of $326.04.

AppFolio (NASDAQ:APPF) last released its quarterly 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. The business had revenue of $262.21 million for the quarter, compared to analyst estimates of $258.13 million. AppFolio had a net margin of 15.27% and a return on equity of 32.35%. The firm’s revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.21 earnings per share. On average, analysts expect that AppFolio, Inc. will post 5.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on APPF. Piper Sandler reduced their price target on shares of AppFolio from $245.00 to $210.00 and set an “overweight” rating for the company in a research report on Friday, April 24th. William Blair restated an “outperform” rating on shares of AppFolio in a research report on Friday, January 30th. Weiss Ratings downgraded shares of AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, April 29th. UBS Group set a $210.00 price target on shares of AppFolio in a research report on Friday, April 24th. Finally, Wall Street Zen upgraded AppFolio from a “hold” rating to a “buy” rating in a report on Sunday, March 15th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $252.29.

Hedge Funds Weigh In On AppFolio

A number of large investors have recently made changes to their positions in APPF. Royal Bank of Canada increased its holdings in shares of AppFolio by 22.6% in the 1st quarter. Royal Bank of Canada now owns 45,452 shares of the software maker’s stock valued at $9,993,000 after purchasing an additional 8,367 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of AppFolio by 23.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 384 shares of the software maker’s stock valued at $84,000 after purchasing an additional 73 shares during the period. Millennium Management LLC increased its holdings in shares of AppFolio by 237.7% in the 1st quarter. Millennium Management LLC now owns 18,055 shares of the software maker’s stock valued at $3,970,000 after purchasing an additional 12,709 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of AppFolio by 164.8% in the 1st quarter. Jones Financial Companies Lllp now owns 654 shares of the software maker’s stock valued at $144,000 after purchasing an additional 407 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in shares of AppFolio by 322.5% in 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. Institutional investors and hedge funds own 85.19% of the company’s stock.

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.