William Shane Trigg Sells 6,963 Shares of AppFolio (NASDAQ:APPF) Stock

AppFolio, Inc. (NASDAQ:APPF) CEO William Shane Trigg sold 6,963 shares of AppFolio stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $169.73, for a total value of $1,181,829.99. Following the completion of the sale, the chief executive officer directly owned 52,920 shares of the company’s stock, valued at $8,982,111.60. The trade was a 11.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

AppFolio Price Performance

Shares of NASDAQ:APPF opened at $172.23 on Friday. The firm has a market capitalization of $6.20 billion, a PE ratio of 44.39 and a beta of 0.75. AppFolio, Inc. has a 1 year low of $166.36 and a 1 year high of $326.04. The firm’s 50-day moving average is $211.74 and its two-hundred day moving average is $240.64.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Thursday, January 29th. The software maker reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.17. AppFolio had a net margin of 14.82% and a return on equity of 29.79%. The firm had revenue of $248.19 million during the quarter, compared to analysts’ expectations of $246.56 million. During the same quarter in the previous year, the business posted $0.92 earnings per share. The business’s quarterly revenue was up 21.7% compared to the same quarter last year. Analysts expect that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of APPF. Royal Bank of Canada raised its stake in AppFolio by 22.6% during the 1st quarter. Royal Bank of Canada now owns 45,452 shares of the software maker’s stock worth $9,993,000 after acquiring an additional 8,367 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of AppFolio by 23.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 384 shares of the software maker’s stock worth $84,000 after purchasing an additional 73 shares during the last quarter. Millennium Management LLC increased its position in shares of AppFolio by 237.7% during the first quarter. Millennium Management LLC now owns 18,055 shares of the software maker’s stock worth $3,970,000 after purchasing an additional 12,709 shares in the last quarter. Jones Financial Companies Lllp lifted 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 valued at $144,000 after purchasing an additional 407 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of AppFolio by 322.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 66,777 shares of the software maker’s stock valued at $14,684,000 after purchasing an additional 50,970 shares during the last quarter. Institutional investors and hedge funds own 85.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on APPF shares. Piper Sandler decreased their target price on AppFolio from $350.00 to $245.00 and set an “overweight” rating for the company in a report on Friday, January 30th. Wells Fargo & Company reissued a “buy” rating on shares of AppFolio in a research report on Thursday, January 15th. JPMorgan Chase & Co. reduced their target price on shares of AppFolio from $330.00 to $300.00 and set an “overweight” rating on the stock in a report on Friday, January 30th. UBS Group set a $260.00 price target on shares of AppFolio and gave the stock a “buy” rating in a research note on Friday, January 30th. Finally, William Blair reiterated an “outperform” rating on shares of AppFolio in a report on Friday, January 30th. Eight investment analysts have rated the stock with 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 “Moderate Buy” and a consensus price target of $270.83.

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.