AppFolio (NASDAQ:APPF) CEO William Shane Trigg Sells 2,057 Shares of Stock

AppFolio, Inc. (NASDAQ:APPF) CEO William Shane Trigg sold 2,057 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $205.00, for a total value of $421,685.00. Following the completion of the transaction, the chief executive officer directly owned 70,772 shares of the company’s stock, valued at $14,508,260. This represents a 2.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

AppFolio Price Performance

NASDAQ:APPF opened at $195.96 on Tuesday. The firm’s 50 day simple moving average is $173.45 and its 200 day simple moving average is $170.24. AppFolio, Inc. has a one year low of $142.56 and a one year high of $288.73. The company has a market cap of $6.94 billion, a PE ratio of 44.74 and a beta of 0.78.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, July 23rd. The software maker reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.02. The firm had revenue of $281.12 million during the quarter, compared to analysts’ expectations 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 period in the prior year, the company posted $1.38 EPS. Equities research analysts expect that AppFolio, Inc. will post 5.16 EPS for the current year.

Hedge Funds Weigh In On AppFolio

A number of hedge funds have recently bought and sold shares of APPF. EverSource Wealth Advisors LLC boosted its position in AppFolio by 101.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock valued at $26,000 after acquiring an additional 56 shares during the last quarter. Optiver Holding B.V. raised its position in shares of AppFolio by 827.8% in the 1st quarter. Optiver Holding B.V. now owns 167 shares of the software maker’s stock worth $26,000 after acquiring an additional 149 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of AppFolio by 48.8% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker’s stock worth $53,000 after acquiring an additional 63 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of AppFolio in the 3rd quarter valued at about $55,000. Finally, Employees Retirement System of Texas bought a new stake in shares of AppFolio during the 3rd quarter valued at about $58,000. Institutional investors own 85.19% of the company’s stock.

More AppFolio News

Here are the key news stories impacting AppFolio this week:

• Positive Sentiment: AppFolio selected Amazon Web Services (AWS) as its preferred AI cloud partner, a move that could support the company’s AI development, scalability and property-management automation efforts. How Investors Are Reacting To AppFolio Making AWS Its Preferred AI Cloud Partner
• Positive Sentiment: AppFolio’s AI tools reportedly handled roughly one-quarter of maintenance requests, providing evidence that the technology may be delivering practical benefits and improving operating efficiency. AppFolio’s AI Clears a Quarter of Maintenance Requests
• Neutral Sentiment: Investors are questioning whether AppFolio’s valuation remains justified after the AWS announcement. The partnership could strengthen the long-term growth story, but the stock’s premium valuation leaves less room for execution missteps. AppFolio Picks AWS, Is The Valuation Case Still Convincing?
• Negative Sentiment: Multiple insiders sold shares recently. CEO William Shane Trigg sold 2,057 shares for about $421,685 under a pre-arranged Rule 10b5-1 plan, while other reported transactions included sales by insiders, the CFO and an insider’s trusts. Repeated selling can weigh on sentiment, although these filings do not necessarily indicate that management expects the business to weaken.
• Negative Sentiment: The CEO also had 3,718 shares withheld for taxes, and other executives disposed of shares after earnings. These transactions were largely tax-related or conducted under preset plans, making them less informative than discretionary sales, but they still add to the visible supply of insider dispositions. AppFolio’s CEO Had Shares Withheld for Taxes

Wall Street Analysts Forecast Growth

Several brokerages have commented on APPF. Benchmark lifted their target price on AppFolio from $222.00 to $226.00 and gave the stock a “buy” rating in a report on Friday, April 24th. UBS Group set a $210.00 price target on AppFolio in a research note on Friday, April 24th. Zacks Research upgraded AppFolio from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 28th. Guggenheim initiated coverage on AppFolio in a research note on Wednesday, July 22nd. They issued a “buy” rating and a $232.00 price objective on the stock. Finally, DA Davidson set a $225.00 price objective on AppFolio in a research note on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $243.50.

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.