Key Points
- AppFolio CEO William Shane Trigg sold 3,584 shares on May 15 at an average price of $152.50, totaling $546,560. The sale was made under a pre-arranged Rule 10b5-1 trading plan and reduced his holdings by 4.47%.
- The company recently beat earnings expectations, reporting quarterly EPS of $1.61 versus the $1.47 consensus, along with revenue of $262.21 million, up 20.7% year over year.
- Wall Street remains mostly positive on APPF, with nine Buy ratings and one Hold rating, though some analysts have trimmed price targets; the stock’s average target is $252.29.
AppFolio, Inc. (NASDAQ:APPF - Get Free Report) CEO William Shane Trigg sold 3,584 shares of AppFolio 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 owned 76,547 shares of the company's stock, valued at approximately $11,673,417.50. This represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
AppFolio Price Performance
Shares of APPF opened at $159.82 on Wednesday. AppFolio, Inc. has a 1-year low of $142.73 and a 1-year high of $326.04. The stock has a market cap of $5.65 billion, a PE ratio of 38.05 and a beta of 0.82. The firm has a 50-day simple moving average of $161.63 and a two-hundred day simple moving average of $197.77.
AppFolio (NASDAQ:APPF - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The software maker reported $1.61 earnings per share for the quarter, beating 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 during the quarter, compared to analysts' expectations of $258.13 million. During the same period last year, the business earned $1.21 earnings per share. The business's revenue for the quarter was up 20.7% on a year-over-year basis. As a group, sell-side analysts expect that AppFolio, Inc. will post 5.04 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in APPF. Principal Financial Group Inc. boosted its stake in shares of AppFolio by 40.1% in the third quarter. Principal Financial Group Inc. now owns 1,166,752 shares of the software maker's stock valued at $321,637,000 after purchasing an additional 333,861 shares during the period. Lead Edge Capital Management LLC purchased a new position in shares of AppFolio in the first quarter valued at approximately $33,183,000. Hudson Way Capital Management LLC purchased a new position in shares of AppFolio in the third quarter valued at approximately $53,367,000. Greenstone Partners & Co. LLC purchased a new position in shares of AppFolio in the fourth quarter valued at approximately $43,647,000. Finally, Millennium Management LLC boosted its stake in shares of AppFolio by 158.6% in the fourth quarter. Millennium Management LLC now owns 281,495 shares of the software maker's stock valued at $65,490,000 after purchasing an additional 172,627 shares during the period. Hedge funds and other institutional investors own 85.19% of the company's stock.
Analyst Ratings Changes
A number of brokerages have weighed in on APPF. William Blair reiterated an "outperform" rating on shares of AppFolio in a research report on Friday, January 30th. JPMorgan Chase & Co. dropped their price target on shares of AppFolio from $330.00 to $300.00 and set an "overweight" rating for the company in a research report on Friday, January 30th. KeyCorp reiterated an "overweight" rating on shares of AppFolio in a research report on Monday, February 2nd. Weiss Ratings cut shares of AppFolio from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, April 29th. Finally, DA Davidson lowered their price objective on shares of AppFolio from $325.00 to $275.00 and set a "buy" rating for the company in a research note on Friday, January 30th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, AppFolio presently has an average rating of "Moderate Buy" and an average price target of $252.29.
Get Our Latest Research Report on APPF
About AppFolio
(
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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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