Key Points
- Major shareholder Maurice Duca sold 5,442 AppFolio shares for approximately $1.09 million at an average price of $201.13, reducing his ownership by 6.93% to 73,132 shares. The transaction was made under a pre-arranged Rule 10b5-1 plan.
- AppFolio’s latest quarterly results modestly beat expectations, with EPS of $1.71 versus $1.69 expected and revenue of $281.12 million, up 19.3% year over year.
- Analysts maintain a broadly positive outlook, with a consensus “Buy” rating and a $243.50 price target, though some firms have lowered targets and the stock’s valuation remains relatively high.
AppFolio, Inc. (NASDAQ:APPF - Get Free Report) General Counsel Evan Pickering sold 141 shares of AppFolio stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $202.01, for a total value of $28,483.41. Following the completion of the transaction, the general counsel owned 5,489 shares of the company's stock, valued at $1,108,832.89. This trade represents a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Evan Pickering also recently made the following trade(s):
- On Wednesday, August 12th, Evan Pickering sold 322 shares of AppFolio stock. The shares were sold at an average price of $200.06, for a total value of $64,419.32.
- On Wednesday, August 5th, Evan Pickering sold 661 shares of AppFolio stock. The shares were sold at an average price of $200.49, for a total value of $132,523.89.
- On Friday, June 12th, Evan Pickering sold 660 shares of AppFolio stock. The stock was sold at an average price of $155.25, for a total value of $102,465.00.
AppFolio Trading Down 3.1%
Shares of APPF opened at $196.77 on Thursday. The firm has a market cap of $6.97 billion, a price-to-earnings ratio of 44.92 and a beta of 0.78. The stock has a 50 day moving average of $171.28 and a 200-day moving average of $170.60. AppFolio, Inc. has a 52 week low of $142.56 and a 52 week high of $288.73.
AppFolio (NASDAQ:APPF - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The software maker reported $1.71 earnings per share for the quarter, beating analysts' consensus estimates of $1.69 by $0.02. The business had revenue of $281.12 million during the quarter, compared to the consensus estimate of $277.35 million. AppFolio had a return on equity of 32.42% and a net margin of 15.13%.The business's quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.38 EPS. On average, sell-side analysts predict that AppFolio, Inc. will post 5.16 earnings per share for the current fiscal year.
Trending Headlines about AppFolio
Here are the key news stories impacting AppFolio this week:
- Positive Sentiment: AppFolio’s latest quarterly performance remained solid: earnings of $1.71 per share exceeded the $1.69 consensus estimate, while revenue of $281.12 million topped expectations of $277.35 million and increased 19.3% year over year. AppFolio financial results
- Positive Sentiment: Analyst sentiment remains generally favorable, with a consensus Buy rating and an average price target of $243.50. Benchmark raised its target to $226, while KeyCorp maintained an Overweight rating. These targets suggest potential upside if AppFolio sustains its growth. AppFolio analyst ratings and price targets
- Neutral Sentiment: Major shareholder Maurice Duca sold a combined 15,900 shares on August 10–11 for approximately $3.57 million, reducing several reported positions. Because the sales were made under a 10b5-1 plan, they are less reliable as a signal of management’s current outlook. SEC filing for Maurice Duca’s AppFolio share sale
- Neutral Sentiment: General Counsel Evan Pickering sold 463 shares, and insider Don Rigler sold 150 shares. These transactions were also made under trading plans, with the stated purpose of covering tax-withholding obligations related to equity awards. SEC filings for AppFolio insider sales
- Negative Sentiment: The repeated insider selling can still create a short-term overhang, particularly as Duca reduced some holdings by meaningful percentages. AppFolio’s elevated valuation, including a P/E ratio near 45, also leaves the stock sensitive to concerns about growth and execution. Wall Street Zen’s downgrade to Hold and Piper Sandler’s lower $210 target reinforce those risks.
Institutional Investors Weigh In On AppFolio
Several large investors have recently added to or reduced their stakes in APPF. Vanguard Group Inc. increased its position in AppFolio by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 2,560,460 shares of the software maker's stock worth $595,691,000 after buying an additional 101,466 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of AppFolio by 20.9% during the first quarter. Principal Financial Group Inc. now owns 1,505,882 shares of the software maker's stock valued at $237,665,000 after acquiring an additional 259,933 shares during the period. State Street Corp grew its position in shares of AppFolio by 1.1% during the fourth quarter. State Street Corp now owns 685,656 shares of the software maker's stock worth $159,518,000 after acquiring an additional 7,585 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of AppFolio by 17.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 669,317 shares of the software maker's stock worth $155,717,000 after acquiring an additional 98,230 shares during the last quarter. Finally, William Blair Investment Management LLC grew its position in shares of AppFolio by 15.6% during the fourth quarter. William Blair Investment Management LLC now owns 638,241 shares of the software maker's stock worth $148,487,000 after acquiring an additional 86,272 shares during the last quarter. 85.19% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
APPF has been the topic of a number of recent research reports. KeyCorp restated an "overweight" rating on shares of AppFolio in a research report on Monday, July 6th. Guggenheim initiated coverage on shares of AppFolio in a research report on Wednesday, July 22nd. They set a "buy" rating and a $232.00 price objective for the company. Benchmark increased their price objective on shares of AppFolio from $222.00 to $226.00 and gave the stock a "buy" rating in a research note on Friday, April 24th. Piper Sandler cut their target price on shares of AppFolio from $245.00 to $210.00 and set an "overweight" rating on the stock in a report on Friday, April 24th. Finally, Wall Street Zen cut shares of AppFolio from a "buy" rating to a "hold" rating in a report on Sunday, July 26th. Two investment 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, AppFolio currently has an average rating of "Buy" and a consensus target price of $243.50.
Get 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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