Key Points
- AppFolio General Counsel Evan Pickering sold 661 shares at an average price of $200.49, generating $132,523.89. The Rule 10b5-1 transaction reduced his ownership by 10.08% to 5,894 shares.
- AppFolio’s latest quarterly results exceeded expectations, with adjusted earnings of $1.71 per share and revenue of $281.12 million, up 19.3% year over year.
- Analysts maintain a consensus “Buy” rating with an average price target of $243.50, while institutional investors own 85.19% of the company’s stock.
AppFolio, Inc. (NASDAQ:APPF - Get Free Report) General Counsel Evan Pickering sold 661 shares of the business's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $200.49, for a total value of $132,523.89. Following the completion of the sale, the general counsel owned 5,894 shares in the company, valued at $1,181,688.06. This represents a 10.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Evan Pickering also recently made the following trade(s):
- 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 transaction of $102,465.00.
AppFolio Stock Up 2.4%
Shares of NASDAQ:APPF opened at $198.74 on Friday. The firm has a market capitalization of $7.04 billion, a PE ratio of 45.37 and a beta of 0.78. AppFolio, Inc. has a twelve month low of $142.56 and a twelve month high of $300.25. The company has a 50-day moving average price of $169.70 and a two-hundred day moving average price of $171.29.
AppFolio (NASDAQ:APPF - Get Free Report) last posted its earnings results on Thursday, July 23rd. The software maker reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.02. AppFolio had a net margin of 15.13% and a return on equity of 32.42%. The firm had revenue of $281.12 million during the quarter, compared to the consensus estimate of $277.35 million. During the same quarter last year, the company earned $1.38 earnings per share. The company's revenue was up 19.3% on a year-over-year basis. Analysts anticipate that AppFolio, Inc. will post 5.16 earnings per share for the current fiscal year.
Institutional Trading of AppFolio
Hedge funds and other institutional investors have recently bought and sold shares of the company. Woodline Partners LP increased its stake in shares of AppFolio by 2.9% in the 1st quarter. Woodline Partners LP now owns 1,754 shares of the software maker's stock worth $386,000 after acquiring an additional 50 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in AppFolio by 101.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker's stock worth $26,000 after acquiring an additional 56 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in AppFolio by 4.8% in the third quarter. Mercer Global Advisors Inc. ADV now owns 1,263 shares of the software maker's stock worth $348,000 after purchasing an additional 58 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of AppFolio by 48.8% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker's stock valued at $53,000 after purchasing an additional 63 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC increased its stake in shares of AppFolio by 1.3% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 5,162 shares of the software maker's stock valued at $1,201,000 after purchasing an additional 64 shares in the last quarter. Institutional investors own 85.19% of the company's stock.
Analyst Ratings Changes
A number of research analysts recently weighed in on the stock. Piper Sandler reduced their price objective on shares of AppFolio from $245.00 to $210.00 and set an "overweight" rating for the company in a research note on Friday, April 24th. Weiss Ratings downgraded AppFolio from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, June 11th. Wall Street Zen lowered AppFolio from a "buy" rating to a "hold" rating in a report on Sunday, July 26th. DA Davidson set a $225.00 price target on AppFolio in a research report on Friday, July 24th. Finally, Zacks Research upgraded AppFolio from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 28th. Two 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 company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $243.50.
Read Our Latest Research 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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