Insider Selling: AppFolio, Inc. (NASDAQ:APPF) CEO Sells 3,500 Shares of Stock

AppFolio, Inc. (NASDAQ:APPF) CEO William Shane Trigg sold 3,500 shares of AppFolio stock in a transaction on Friday, November 15th. The stock was sold at an average price of $229.85, for a total transaction of $804,475.00. Following the completion of the transaction, the chief executive officer now owns 74,327 shares in the company, valued at $17,084,060.95. This trade represents a 4.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

AppFolio Trading Down 0.3 %

Shares of AppFolio stock traded down $0.78 on Tuesday, reaching $228.55. 152,730 shares of the company were exchanged, compared to its average volume of 276,653. AppFolio, Inc. has a one year low of $164.29 and a one year high of $274.56. The company has a 50-day moving average of $222.00 and a 200 day moving average of $231.11. The company has a market capitalization of $8.30 billion, a price-to-earnings ratio of 63.88 and a beta of 0.83.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.26. The firm had revenue of $206.00 million during the quarter, compared to analysts’ expectations of $199.11 million. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The company’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.26 earnings per share. Analysts predict that AppFolio, Inc. will post 3.23 earnings per share for the current year.

Institutional Trading of AppFolio

Several institutional investors and hedge funds have recently bought and sold shares of APPF. American International Group Inc. lifted its holdings in AppFolio by 280.7% during the 1st quarter. American International Group Inc. now owns 36,367 shares of the software maker’s stock valued at $8,973,000 after purchasing an additional 26,815 shares during the last quarter. Ameritas Investment Partners Inc. grew its stake in AppFolio by 223.5% in the 1st quarter. Ameritas Investment Partners Inc. now owns 6,434 shares of the software maker’s stock valued at $1,588,000 after buying an additional 4,445 shares during the last quarter. Lazard Asset Management LLC raised its holdings in AppFolio by 750.5% in the 1st quarter. Lazard Asset Management LLC now owns 9,211 shares of the software maker’s stock valued at $2,271,000 after acquiring an additional 8,128 shares during the period. CANADA LIFE ASSURANCE Co lifted its position in AppFolio by 11.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 41,488 shares of the software maker’s stock worth $10,243,000 after acquiring an additional 4,131 shares during the last quarter. Finally, Summit Global Investments bought a new stake in shares of AppFolio during the third quarter worth approximately $759,000. Institutional investors own 62.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on APPF. DA Davidson upped their target price on shares of AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods downgraded shares of AppFolio from a “market perform” rating to an “underperform” rating and decreased their price target for the stock from $255.00 to $193.00 in a research note on Tuesday, October 15th. KeyCorp dropped their price objective on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Piper Sandler decreased their target price on shares of AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Finally, StockNews.com cut shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $261.75.

AppFolio Company Profile

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry in the United States. The company provides a cloud-based platform that enables users to automate and optimize common workflows; tools that assist with leasing, maintenance, and accounting; and other technology and services offered by third parties.