Key Points
- AppFolio insider Elizabeth Erin Barat sold 1,978 shares on May 12 at an average price of $158.12, totaling about $312,761. The filing says the sale was to cover tax withholding tied to vesting equity awards, and her remaining stake was valued at roughly $3.41 million.
- APPF shares were down 2.6%, opening at $155.38 amid a market cap of $5.49 billion. The stock has traded well below its 200-day moving average and sits far under its 12-month high of $326.04.
- AppFolio’s latest quarter beat expectations, with EPS of $1.61 and revenue of $262.21 million, both above analyst estimates. Revenue rose 20.7% year over year, and Wall Street currently has a consensus Moderate Buy rating with a $252.29 price target.
AppFolio, Inc. (NASDAQ:APPF - Get Free Report) insider Elizabeth Erin Barat sold 1,978 shares of AppFolio stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $158.12, for a total transaction of $312,761.36. Following the transaction, the insider owned 21,545 shares of the company's stock, valued at approximately $3,406,695.40. The trade was a 8.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
AppFolio Trading Down 2.6%
Shares of APPF opened at $155.38 on Wednesday. The stock has a market cap of $5.49 billion, a P/E ratio of 37.00 and a beta of 0.82. The company has a 50-day moving average of $164.99 and a two-hundred day moving average of $200.87. AppFolio, Inc. has a 12-month low of $142.73 and a 12-month high of $326.04.
AppFolio (NASDAQ:APPF - Get Free Report) last announced its earnings results on Thursday, April 23rd. The software maker reported $1.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.47 by $0.14. The company had revenue of $262.21 million during the quarter, compared to analysts' expectations of $258.13 million. AppFolio had a net margin of 15.27% and a return on equity of 32.35%. The firm's quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.21 earnings per share. As a group, analysts forecast that AppFolio, Inc. will post 5.04 EPS for the current fiscal year.
Institutional Investors Weigh In On AppFolio
A number of institutional investors have recently bought and sold shares of APPF. Royal Bank of Canada grew its holdings in AppFolio by 22.6% in the first 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. grew 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 purchasing an additional 73 shares during the period. Millennium Management LLC grew its stake in AppFolio by 237.7% during the first quarter. Millennium Management LLC now owns 18,055 shares of the software maker's stock worth $3,970,000 after buying an additional 12,709 shares during the period. Jones Financial Companies Lllp grew its stake in AppFolio by 164.8% during the first quarter. Jones Financial Companies Lllp now owns 654 shares of the software maker's stock worth $144,000 after buying an additional 407 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in AppFolio by 322.5% during the first quarter. Goldman Sachs Group Inc. now owns 66,777 shares of the software maker's stock worth $14,684,000 after buying an additional 50,970 shares during the period. 85.19% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on APPF. UBS Group set a $210.00 price target on shares of AppFolio in a report on Friday, April 24th. KeyCorp reiterated an "overweight" rating on shares of AppFolio in a report on Monday, February 2nd. Wells Fargo & Company reiterated a "buy" rating on shares of AppFolio in a report on Thursday, January 15th. Keefe, Bruyette & Woods lowered their price target on shares of AppFolio from $311.00 to $290.00 and set an "outperform" rating for the company in a report on Friday, January 30th. Finally, Weiss Ratings downgraded shares of AppFolio from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, April 29th. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $252.29.
View Our Latest Stock Report on AppFolio
AppFolio Company Profile
(
Get Free Report)
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.
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