Insider Selling: AppFolio, Inc. (NASDAQ:APPF) Insider Sells 5,090 Shares of Stock

AppFolio, Inc. (NASDAQ:APPF) insider Matthew S. Mazza sold 5,090 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $236.24, for a total value of $1,202,461.60. Following the completion of the sale, the insider now owns 28,266 shares of the company’s stock, valued at $6,677,559.84. This trade represents a 15.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

AppFolio Stock Down 1.4 %

APPF stock traded down $3.34 during trading on Friday, reaching $230.02. 187,326 shares of the company’s stock were exchanged, compared to its average volume of 277,433. AppFolio, Inc. has a 1-year low of $164.29 and a 1-year high of $274.56. The company’s fifty day moving average price is $221.72 and its 200-day moving average price is $231.18. The firm has a market cap of $8.36 billion, a PE ratio of 64.07 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.26. The company had revenue of $206.00 million during the quarter, compared to analyst estimates of $199.11 million. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The firm’s quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.26 EPS. As a group, sell-side analysts expect that AppFolio, Inc. will post 3.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on APPF shares. Piper Sandler Companies reiterated an “overweight” rating and issued a $300.00 price target on shares of AppFolio in a report on Friday, July 26th. DA Davidson boosted their price target on AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a report on Friday, July 26th. StockNews.com lowered AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. KeyCorp reduced their price objective on AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Finally, Piper Sandler reduced their price objective on AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, AppFolio currently has an average rating of “Moderate Buy” and a consensus price target of $261.75.

Institutional Trading of AppFolio

Institutional investors have recently modified their holdings of the company. Blue Trust Inc. lifted its holdings in shares of AppFolio by 85.7% in the third quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock valued at $29,000 after buying an additional 54 shares during the period. GAMMA Investing LLC lifted its holdings in shares of AppFolio by 589.5% in the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock valued at $32,000 after buying an additional 112 shares during the period. CWM LLC lifted its holdings in shares of AppFolio by 238.6% in the second quarter. CWM LLC now owns 149 shares of the software maker’s stock valued at $36,000 after buying an additional 105 shares during the period. Advisors Asset Management Inc. lifted its holdings in shares of AppFolio by 291.3% in the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock valued at $44,000 after buying an additional 134 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of AppFolio by 688.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock valued at $52,000 after buying an additional 186 shares during the period. Institutional investors and hedge funds own 62.34% of the company’s stock.

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.