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

AppFolio, Inc. (NASDAQ:APPF) insider Don Rigler sold 150 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $159.56, for a total transaction of $23,934.00. Following the completion of the transaction, the insider directly owned 4,282 shares in the company, valued at $683,235.92. This trade represents a 3.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

AppFolio Trading Down 0.2%

NASDAQ APPF opened at $157.89 on Wednesday. AppFolio, Inc. has a 1-year low of $142.73 and a 1-year high of $326.04. The company has a market capitalization of $5.58 billion, a PE ratio of 37.59 and a beta of 0.80. The firm’s fifty day simple moving average is $160.99 and its 200-day simple moving average is $186.84.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, April 23rd. The software maker reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.14. AppFolio had a net margin of 15.27% and a return on equity of 32.35%. The business had revenue of $262.21 million for the quarter, compared to the consensus estimate of $258.13 million. During the same period in the prior year, the business posted $1.21 earnings per share. AppFolio’s revenue for the quarter was up 20.7% compared to the same quarter last year. As a group, analysts predict that AppFolio, Inc. will post 5.04 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on APPF shares. Piper Sandler lowered their target price on shares of AppFolio from $245.00 to $210.00 and set an “overweight” rating on the stock in a research report on Friday, April 24th. Benchmark raised their price target on AppFolio from $222.00 to $226.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Weiss Ratings cut shares of AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. Wall Street Zen upgraded shares of AppFolio from a “hold” rating to a “buy” rating in a research note on Sunday, March 15th. Finally, UBS Group set a $210.00 price objective on AppFolio in a report on Friday, April 24th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, AppFolio currently has an average rating of “Moderate Buy” and a consensus target price of $252.29.

Institutional Trading of AppFolio

Hedge funds and other institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its holdings in shares of AppFolio by 101.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock valued at $26,000 after purchasing an additional 56 shares in the last quarter. Optiver Holding B.V. boosted its position in shares of AppFolio by 827.8% during the first quarter. Optiver Holding B.V. now owns 167 shares of the software maker’s stock worth $26,000 after purchasing an additional 149 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of AppFolio by 48.8% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker’s stock worth $53,000 after purchasing an additional 63 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of AppFolio during the third quarter worth $55,000. Finally, Employees Retirement System of Texas bought a new position in shares of AppFolio during the third quarter worth $58,000. 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.