AppFolio (NASDAQ:APPF) General Counsel Sells $28,483.41 in Stock

AppFolio, Inc. (NASDAQ:APPF) General Counsel Evan Pickering sold 141 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $202.01, for a total value of $28,483.41. Following the sale, the general counsel directly owned 5,489 shares of the company’s stock, valued at $1,108,832.89. This represents a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.

Evan Pickering also recently made the following trade(s):

• On Wednesday, August 12th, Evan Pickering sold 322 shares of AppFolio stock. The stock was sold at an average price of $200.06, for a total value of $64,419.32.
• On Wednesday, August 5th, Evan Pickering sold 661 shares of AppFolio stock. The stock was sold at an average price of $200.49, for a total value of $132,523.89.
• On Friday, June 12th, Evan Pickering sold 660 shares of AppFolio stock. The shares were sold at an average price of $155.25, for a total value of $102,465.00.

AppFolio Stock Up 0.1%

AppFolio stock opened at $204.21 on Friday. The stock has a 50-day simple moving average of $172.83 and a 200 day simple moving average of $170.72. AppFolio, Inc. has a 12-month low of $142.56 and a 12-month high of $288.73. The stock has a market capitalization of $7.23 billion, a price-to-earnings ratio of 46.62 and a beta of 0.78.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Thursday, July 23rd. The software maker reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.02. The firm had revenue of $281.12 million for the quarter, compared to analyst estimates of $277.35 million. AppFolio had a net margin of 15.13% and a return on equity of 32.42%. The company’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.38 EPS. As a group, sell-side analysts anticipate that AppFolio, Inc. will post 5.16 EPS for the current year.

Wall Street Analyst Weigh In

APPF has been the subject of a number of research reports. Zacks Research raised shares of AppFolio from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. DA Davidson set a $225.00 price objective on AppFolio in a report on Friday, July 24th. Guggenheim initiated coverage on AppFolio in a research report on Wednesday, July 22nd. They issued a “buy” rating and a $232.00 price objective on the stock. KeyCorp reissued an “overweight” rating on shares of AppFolio in a research note on Monday, July 6th. Finally, Piper Sandler dropped their target price on AppFolio from $245.00 to $210.00 and set an “overweight” rating for the company in a research report on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, AppFolio currently has an average rating of “Buy” and a consensus price target of $243.50.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of APPF. Royal Bank of Canada grew 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 buying an additional 8,367 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in AppFolio by 23.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 384 shares of the software maker’s stock valued at $84,000 after buying an additional 73 shares during the period. Millennium Management LLC lifted 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 valued at $3,970,000 after buying an additional 12,709 shares during the period. Jones Financial Companies Lllp boosted its stake in AppFolio by 164.8% in the first quarter. Jones Financial Companies Lllp now owns 654 shares of the software maker’s stock valued at $144,000 after acquiring an additional 407 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in AppFolio by 322.5% in the first quarter. Goldman Sachs Group Inc. now owns 66,777 shares of the software maker’s stock valued at $14,684,000 after acquiring an additional 50,970 shares during the last quarter. Institutional investors own 85.19% of the company’s stock.

AppFolio News Roundup

Here are the key news stories impacting AppFolio this week:

• Positive Sentiment: AppFolio named Amazon Web Services its preferred cloud provider. Its Performance Platform runs on AWS, supporting the company’s AI-native architecture and Realm AI suite. The arrangement could strengthen AppFolio’s technology infrastructure and improve its ability to deliver AI features to property-management customers. AppFolio names AWS preferred cloud provider
• Positive Sentiment: Zacks said growth investors should not overlook AppFolio, citing above-average financial growth. That view is supported by the company’s latest quarterly results, which showed revenue growth of 19.3% year over year and earnings of $1.71 per share, slightly ahead of consensus. Zacks AppFolio growth analysis
• Neutral Sentiment: Major shareholder Maurice J. Duca sold a combined 17,900 APPF shares on August 12–13 for approximately $3.54 million. The transactions were executed under a pre-arranged Rule 10b5-1 plan, reducing their value as a signal of current management confidence, although the sizable sales could still attract investor attention. SEC filing for Duca AppFolio share sales
• Neutral Sentiment: General Counsel Evan Pickering also reported sales, including 727 shares and an earlier 141-share transaction. The 141-share sale was made under a 10b5-1 plan to cover tax withholding related to vested equity awards, making it less concerning than discretionary selling. AppFolio general counsel share sale
• Negative Sentiment: Repeated insider selling may weigh on sentiment, particularly with APPF valued at roughly 45–47 times earnings. Investors may remain sensitive to whether AppFolio can sustain its growth and justify its premium valuation, despite the stock trading well above its 52-week low and moving averages.

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.