AppFolio (NASDAQ:APPF) General Counsel Sells $64,419.32 in Stock

AppFolio, Inc. (NASDAQ:APPF) General Counsel Evan Pickering sold 322 shares of AppFolio stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $200.06, for a total value of $64,419.32. Following the completion of the sale, the general counsel directly owned 5,167 shares of the company’s stock, valued at approximately $1,033,710.02. This trade represents a 5.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 Tuesday, August 11th, Evan Pickering sold 141 shares of AppFolio stock. The shares were sold at an average price of $202.01, for a total transaction of $28,483.41.
• On Wednesday, August 5th, Evan Pickering sold 661 shares of AppFolio stock. The stock was sold at an average price of $200.49, for a total transaction 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 transaction of $102,465.00.

AppFolio Trading Down 3.1%

Shares of NASDAQ APPF traded down $6.25 during midday trading on Wednesday, hitting $196.77. The company’s stock had a trading volume of 665,842 shares, compared to its average volume of 397,303. The stock has a fifty day moving average price of $170.67 and a 200 day moving average price of $170.78. AppFolio, Inc. has a one year low of $142.56 and a one year high of $288.73. The firm has a market capitalization of $6.97 billion, a price-to-earnings ratio of 44.92 and a beta of 0.78.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Thursday, July 23rd. The software maker reported $1.71 EPS for the quarter, topping the consensus estimate of $1.69 by $0.02. AppFolio had a net margin of 15.13% and a return on equity of 32.42%. The company had revenue of $281.12 million during the quarter, compared to the consensus estimate of $277.35 million. During the same period last year, the firm earned $1.38 EPS. AppFolio’s revenue for the quarter was up 19.3% on a year-over-year basis. On average, equities research analysts predict that AppFolio, Inc. will post 5.16 earnings per share for the current fiscal year.

AppFolio News Roundup

Here are the key news stories impacting AppFolio this week:

• Positive Sentiment: AppFolio’s latest quarterly results were modestly ahead of expectations, with earnings per share of $1.71 versus the $1.69 consensus estimate and revenue of $281.12 million versus $277.35 million. Revenue increased 19.3% year over year, supporting the company’s growth narrative.
• Positive Sentiment: Analysts remain broadly constructive, with a consensus “Buy” rating and an average price target of $243.50, above recent trading levels. Benchmark raised its price objective to $226, while DA Davidson set a $225 target.
• Neutral Sentiment: Major shareholder Maurice J. Duca sold several blocks totaling 15,900 shares on August 10–11 for approximately $3.57 million. The transactions were executed under a pre-arranged Rule 10b5-1 plan, which reduces their significance as a discretionary bearish signal. SEC filing on Maurice Duca’s AppFolio share sales
• Neutral Sentiment: General Counsel Evan Pickering sold 463 shares, while insider Don Rigler sold 150 shares. These sales were also made under Rule 10b5-1 plans and were specifically intended to cover tax-withholding obligations tied to vested equity awards. SEC filing on AppFolio insider sales
• Negative Sentiment: The scale and number of recent insider disposals may weigh on sentiment, particularly because Duca reduced several reported holdings by roughly 6.7% to 25.5%. Investors may interpret repeated selling as a near-term supply or confidence concern, despite the pre-arranged plans.
• Negative Sentiment: Wall Street Zen downgraded APPF from “Buy” to “Hold,” and Piper Sandler previously cut its target to $210, highlighting valuation and execution concerns. AppFolio trades at a relatively high forward earnings multiple, leaving the stock sensitive to changes in growth expectations.

Analyst Upgrades and Downgrades

APPF has been the subject of several recent research reports. Piper Sandler reduced their price target on AppFolio from $245.00 to $210.00 and set an “overweight” rating for the company in a research report on Friday, April 24th. DA Davidson set a $225.00 price objective on AppFolio in a report on Friday, July 24th. Weiss Ratings upgraded AppFolio from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. Guggenheim initiated coverage on AppFolio in a report on Wednesday, July 22nd. They set a “buy” rating and a $232.00 target price for the company. Finally, UBS Group set a $210.00 price target on AppFolio in a research 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 assigned a Hold rating to the stock. Based on data from MarketBeat, AppFolio currently has a consensus rating of “Buy” and an average target price of $243.50.

Institutional Investors Weigh In On AppFolio

Institutional investors and hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its stake in AppFolio by 101.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock worth $26,000 after acquiring an additional 56 shares during the last quarter. Optiver Holding B.V. boosted 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 valued at $26,000 after acquiring an additional 149 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted 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 valued at $53,000 after acquiring an additional 63 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of AppFolio during the third quarter worth about $55,000. Finally, Employees Retirement System of Texas bought a new position in shares of AppFolio in the third quarter worth approximately $58,000. Hedge funds and other institutional investors own 85.19% of the company’s stock.

About AppFolio

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.