Key Points
- AppFolio CFO Timothy Mathias Eaton sold 2,585 shares on June 12 at an average price of $160.07, totaling about $413,781. After the sale, he still held 18,036 shares.
- The transaction represented a 12.54% reduction in Eaton’s position and was carried out under a pre-arranged Rule 10b5-1 trading plan.
- AppFolio shares were down 1.9% to $158.21, while the company recently beat quarterly earnings expectations and analysts maintain a Moderate Buy consensus rating.
AppFolio, Inc. (NASDAQ:APPF - Get Free Report) insider Don Rigler sold 150 shares of AppFolio stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $159.56, for a total value of $23,934.00. Following the transaction, the insider owned 4,282 shares in the company, valued at $683,235.92. This trade represents a 3.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
AppFolio Price Performance
NASDAQ:APPF opened at $158.21 on Tuesday. AppFolio, Inc. has a fifty-two week low of $142.73 and a fifty-two week high of $326.04. The stock has a market capitalization of $5.59 billion, a PE ratio of 37.67 and a beta of 0.80. The business's 50-day simple moving average is $160.98 and its 200-day simple moving average is $187.34.
AppFolio (NASDAQ:APPF - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The software maker reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.14. AppFolio had a return on equity of 32.35% and a net margin of 15.27%.The business had revenue of $262.21 million for the quarter, compared to analysts' expectations of $258.13 million. During the same quarter in the previous year, the business posted $1.21 EPS. AppFolio's revenue for the quarter was up 20.7% on a year-over-year basis. On average, research analysts expect that AppFolio, Inc. will post 5.04 earnings per share for the current year.
Wall Street Analyst Weigh In
Several research firms have commented on APPF. Piper Sandler cut their target price on AppFolio from $245.00 to $210.00 and set an "overweight" rating on the stock in a research note on Friday, April 24th. Benchmark boosted their target price on AppFolio from $222.00 to $226.00 and gave the company a "buy" rating in a research note on Friday, April 24th. Weiss Ratings cut AppFolio from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday. UBS Group set a $210.00 target price on AppFolio in a research note on Friday, April 24th. Finally, Wall Street Zen upgraded AppFolio from a "hold" rating to a "buy" rating in a research note on Sunday, March 15th. Nine investment 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 an average price target of $252.29.
View Our Latest Report on APPF
Institutional Investors Weigh In On AppFolio
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. M&T Bank Corp increased its holdings in shares of AppFolio by 1,643.8% during the 4th quarter. M&T Bank Corp now owns 96,153 shares of the software maker's stock worth $22,370,000 after acquiring an additional 90,639 shares during the last quarter. Nordea Investment Management AB acquired a new position in shares of AppFolio during the 4th quarter worth approximately $8,795,000. Vanguard Group Inc. increased its holdings in shares of AppFolio by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 2,560,460 shares of the software maker's stock worth $595,691,000 after acquiring an additional 101,466 shares during the last quarter. Citigroup Inc. increased its holdings in shares of AppFolio by 140.3% during the 3rd quarter. Citigroup Inc. now owns 15,641 shares of the software maker's stock worth $4,312,000 after acquiring an additional 9,132 shares during the last quarter. Finally, Light Street Capital Management LLC acquired a new position in shares of AppFolio during the 3rd quarter worth approximately $5,513,000. Institutional investors own 85.19% of the company's stock.
About AppFolio
(
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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