Insider Selling: AppFolio (NASDAQ:APPF) CEO Sells $546,560.00 in Stock

AppFolio, Inc. (NASDAQ:APPF) CEO William Shane Trigg sold 3,584 shares of AppFolio stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $152.50, for a total transaction of $546,560.00. Following the completion of the sale, the chief executive officer owned 76,547 shares in the company, valued at approximately $11,673,417.50. This represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

AppFolio Stock Up 1.2%

NASDAQ APPF traded up $1.91 on Tuesday, hitting $159.82. The stock had a trading volume of 386,876 shares, compared to its average volume of 386,714. The company’s 50-day moving average is $162.25 and its two-hundred day moving average is $198.33. AppFolio, Inc. has a one year low of $142.73 and a one year high of $326.04. The stock has a market cap of $5.65 billion, a price-to-earnings ratio of 38.05 and a beta of 0.82.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, April 23rd. The software maker reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.14. AppFolio had a return on equity of 32.35% and a net margin of 15.27%.The company 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 company posted $1.21 earnings per share. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, sell-side analysts anticipate that AppFolio, Inc. will post 5.04 earnings per share for the current year.

Institutional Trading of AppFolio

Large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its position in AppFolio by 22.6% in the first quarter. Royal Bank of Canada now owns 45,452 shares of the software maker’s stock worth $9,993,000 after buying an additional 8,367 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of AppFolio by 23.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 384 shares of the software maker’s stock worth $84,000 after acquiring an additional 73 shares in the last quarter. Millennium Management LLC boosted its stake in shares of AppFolio by 237.7% during the 1st quarter. Millennium Management LLC now owns 18,055 shares of the software maker’s stock worth $3,970,000 after acquiring an additional 12,709 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of AppFolio by 164.8% in the 1st quarter. Jones Financial Companies Lllp now owns 654 shares of the software maker’s stock worth $144,000 after acquiring an additional 407 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of AppFolio by 322.5% during the first quarter. Goldman Sachs Group Inc. now owns 66,777 shares of the software maker’s stock worth $14,684,000 after purchasing an additional 50,970 shares during the period. 85.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on APPF shares. Keefe, Bruyette & Woods reduced their price target on AppFolio from $311.00 to $290.00 and set an “outperform” rating for the company in a research report on Friday, January 30th. Benchmark upped 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. JPMorgan Chase & Co. reduced their price target on shares of AppFolio from $330.00 to $300.00 and set an “overweight” rating for the company in a research note on Friday, January 30th. William Blair reiterated an “outperform” rating on shares of AppFolio in a report on Friday, January 30th. Finally, Wall Street Zen upgraded shares of AppFolio from a “hold” rating to a “buy” rating in a research note on Sunday, March 15th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, AppFolio currently has a consensus rating of “Moderate Buy” and an average target price of $252.29.

AppFolio Company Profile

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.