Evan Pickering Sells 661 Shares of AppFolio (NASDAQ:APPF) Stock

AppFolio, Inc. (NASDAQ:APPF) General Counsel Evan Pickering sold 661 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $200.49, for a total transaction of $132,523.89. Following the transaction, the general counsel owned 5,894 shares of the company’s stock, valued at $1,181,688.06. This represents a 10.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 stock was sold at an average price of $155.25, for a total value of $102,465.00.

AppFolio Stock Performance

NASDAQ APPF opened at $198.74 on Friday. The firm has a market capitalization of $7.04 billion, a P/E ratio of 45.37 and a beta of 0.78. The stock has a 50-day simple moving average of $169.70 and a two-hundred day simple moving average of $171.29. AppFolio, Inc. has a fifty-two week low of $142.56 and a fifty-two week high of $300.25.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, July 23rd. The software maker reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.02. The firm had revenue of $281.12 million for 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 company’s revenue was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.38 earnings per share. As a group, analysts forecast that AppFolio, Inc. will post 5.16 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its position in shares of AppFolio by 101.8% in 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 period. Optiver Holding B.V. raised its position in shares of AppFolio by 827.8% during the 1st 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. raised its position in shares of AppFolio by 48.8% during 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 last quarter. Advisory Services Network LLC purchased a new position in AppFolio in the 3rd quarter valued at about $55,000. Finally, Employees Retirement System of Texas purchased a new position in AppFolio in the 3rd quarter valued at about $58,000. 85.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on APPF shares. Wall Street Zen cut shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Sunday, July 26th. Piper Sandler lowered their price target 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. KeyCorp restated an “overweight” rating on shares of AppFolio in a research report on Monday, July 6th. UBS Group set a $210.00 price objective on shares of AppFolio in a report on Friday, April 24th. Finally, DA Davidson set a $225.00 price objective on shares of AppFolio in a research report on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, AppFolio presently has a consensus rating of “Buy” and an average target price of $243.50.

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.