AppFolio, Inc. (NASDAQ:APPF - Get Free Report) CEO William Shane Trigg sold 2,057 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $205.00, for a total value of $421,685.00. Following the completion of the sale, the chief executive officer directly owned 70,772 shares in the company, valued at approximately $14,508,260. This represents a 2.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

AppFolio Stock Down 4.0%

Shares of NASDAQ:APPF traded down $8.25 on Monday, hitting $195.96. 344,254 shares of the company traded hands, compared to its average volume of 396,183. The stock has a 50 day simple moving average of $172.83 and a 200-day simple moving average of $170.38. The company has a market cap of $6.94 billion, a PE ratio of 44.74 and a beta of 0.78. 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 announced its quarterly earnings results on Thursday, July 23rd. The software maker reported $1.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.69 by $0.02. The company had revenue of $281.12 million for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.38 EPS. As a group, sell-side analysts anticipate that AppFolio, Inc. will post 5.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

APPF has been the topic of a number of recent analyst reports. UBS Group set a $210.00 price target on shares of AppFolio in a report on Friday, April 24th. Benchmark boosted their price objective on shares of AppFolio from $222.00 to $226.00 and gave the stock a "buy" rating in a report on Friday, April 24th. Piper Sandler lowered their price objective on AppFolio from $245.00 to $210.00 and set an "overweight" rating on the stock in a research report on Friday, April 24th. Zacks Research upgraded AppFolio from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 28th. Finally, DA Davidson set a $225.00 target price on AppFolio in a report on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $243.50.

Read Our Latest Stock Report on APPF

Institutional Trading of AppFolio

A number of institutional investors have recently made changes to their positions in APPF. EverSource Wealth Advisors LLC raised its holdings in shares of AppFolio by 101.8% during the fourth 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. boosted its holdings in 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. grew its position in AppFolio by 48.8% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker's stock worth $53,000 after purchasing an additional 63 shares during the period. Advisory Services Network LLC bought a new stake in AppFolio in the 3rd quarter worth approximately $55,000. Finally, Employees Retirement System of Texas purchased a new stake in AppFolio during the 3rd quarter valued at $58,000. Hedge funds and other institutional investors own 85.19% of the company's stock.

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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