AppFolio, Inc. (NASDAQ:APPF - Get Free Report) CEO William Shane Trigg sold 2,057 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $205.00, for a total transaction of $421,685.00. Following the sale, the chief executive officer directly owned 70,772 shares of the company's stock, valued at approximately $14,508,260. This trade represents a 2.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
AppFolio Stock Down 4.0%
NASDAQ:APPF opened at $195.96 on Tuesday. The company has a fifty day moving average of $173.45 and a 200-day moving average of $170.24. The firm has a market capitalization of $6.94 billion, a P/E ratio of 44.74 and a beta of 0.78. AppFolio, Inc. has a twelve month low of $142.56 and a twelve month high of $288.73.
AppFolio (NASDAQ:APPF - Get Free Report) last issued its earnings results on Thursday, July 23rd. The software maker reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.02. The business had revenue of $281.12 million for the quarter, compared to analyst estimates of $277.35 million. AppFolio had a net margin of 15.13% and a return on equity of 32.42%. AppFolio's revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.38 earnings per share. On average, analysts anticipate that AppFolio, Inc. will post 5.16 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on APPF shares. Zacks Research upgraded AppFolio from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 28th. Benchmark upped their price target on AppFolio from $222.00 to $226.00 and gave the stock a "buy" rating in a research note on Friday, April 24th. Weiss Ratings upgraded AppFolio from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. DA Davidson set a $225.00 price objective on AppFolio in a research note on Friday, July 24th. Finally, Piper Sandler decreased their price objective on AppFolio from $245.00 to $210.00 and set an "overweight" rating for the company in a report on Friday, April 24th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, AppFolio currently has a consensus rating of "Buy" and a consensus price target of $243.50.
View Our Latest Research 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 APPF. EverSource Wealth Advisors LLC boosted its stake in AppFolio by 101.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker's stock valued at $26,000 after purchasing an additional 56 shares during the last quarter. Optiver Holding B.V. raised its stake in shares of AppFolio by 827.8% in the first quarter. Optiver Holding B.V. now owns 167 shares of the software maker's stock worth $26,000 after purchasing an additional 149 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of AppFolio by 48.8% in 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. Advisory Services Network LLC purchased a new position in shares of AppFolio during the third quarter valued at approximately $55,000. Finally, Employees Retirement System of Texas bought a new stake in AppFolio during the third quarter worth $58,000. Institutional investors and hedge funds own 85.19% of the company's stock.
Key Headlines Impacting AppFolio
Here are the key news stories impacting AppFolio this week:
- Positive Sentiment: AppFolio selected Amazon Web Services (AWS) as its preferred AI cloud partner, a move that could support the company’s AI development, scalability and property-management automation efforts. How Investors Are Reacting To AppFolio Making AWS Its Preferred AI Cloud Partner
- Positive Sentiment: AppFolio’s AI tools reportedly handled roughly one-quarter of maintenance requests, providing evidence that the technology may be delivering practical benefits and improving operating efficiency. AppFolio's AI Clears a Quarter of Maintenance Requests
- Neutral Sentiment: Investors are questioning whether AppFolio’s valuation remains justified after the AWS announcement. The partnership could strengthen the long-term growth story, but the stock’s premium valuation leaves less room for execution missteps. AppFolio Picks AWS, Is The Valuation Case Still Convincing?
- Negative Sentiment: Multiple insiders sold shares recently. CEO William Shane Trigg sold 2,057 shares for about $421,685 under a pre-arranged Rule 10b5-1 plan, while other reported transactions included sales by insiders, the CFO and an insider’s trusts. Repeated selling can weigh on sentiment, although these filings do not necessarily indicate that management expects the business to weaken.
- Negative Sentiment: The CEO also had 3,718 shares withheld for taxes, and other executives disposed of shares after earnings. These transactions were largely tax-related or conducted under preset plans, making them less informative than discretionary sales, but they still add to the visible supply of insider dispositions. AppFolio's CEO Had Shares Withheld for Taxes
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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