AppFolio (NASDAQ:APPF) Insider Don Rigler Sells 150 Shares of Stock

AppFolio, Inc. (NASDAQ:APPF) insider Don Rigler sold 150 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $195.87, for a total transaction of $29,380.50. Following the completion of the sale, the insider directly owned 4,132 shares of the company’s stock, valued at $809,334.84. The trade was a 3.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.

Don Rigler also recently made the following trade(s):

• On Friday, June 12th, Don Rigler sold 150 shares of AppFolio stock. The shares were sold at an average price of $159.56, for a total transaction of $23,934.00.

AppFolio Stock Down 3.1%

Shares of APPF stock opened at $196.77 on Thursday. The firm has a market cap of $6.97 billion, a price-to-earnings ratio of 44.92 and a beta of 0.78. The company’s 50 day moving average is $171.28 and its 200 day moving average is $170.60. AppFolio, Inc. has a 52-week low of $142.56 and a 52-week high of $288.73.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data 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 company had revenue of $281.12 million during the quarter, compared to the consensus estimate of $277.35 million. AppFolio had a net margin of 15.13% and a return on equity of 32.42%. AppFolio’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.38 earnings per share. Analysts anticipate that AppFolio, Inc. will post 5.16 EPS for the current fiscal year.

Institutional Trading of AppFolio

Institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its stake in AppFolio by 101.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock worth $26,000 after buying an additional 56 shares during the last quarter. Optiver Holding B.V. raised its stake in AppFolio by 827.8% in the first quarter. Optiver Holding B.V. now owns 167 shares of the software maker’s stock valued at $26,000 after buying an additional 149 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in AppFolio by 48.8% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker’s stock worth $53,000 after acquiring an additional 63 shares in the last quarter. Advisory Services Network LLC acquired a new stake in AppFolio in the third quarter worth about $55,000. Finally, Employees Retirement System of Texas purchased a new stake in shares of AppFolio during the third quarter worth about $58,000. Institutional investors and hedge funds own 85.19% of the company’s stock.

Wall Street Analysts Forecast Growth

APPF has been the subject of a number of analyst reports. Weiss Ratings upgraded AppFolio from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. Piper Sandler cut their target price on AppFolio from $245.00 to $210.00 and set an “overweight” rating on the stock in a research note on Friday, April 24th. KeyCorp reiterated an “overweight” rating on shares of AppFolio in a report on Monday, July 6th. Wall Street Zen lowered shares of AppFolio from a “buy” rating to a “hold” rating in a research report on Sunday, July 26th. Finally, Benchmark raised their price target on shares of AppFolio from $222.00 to $226.00 and gave the company a “buy” rating in a report on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $243.50.

More AppFolio News

Here are the key news stories impacting AppFolio this week:

• Positive Sentiment: AppFolio’s latest quarterly performance remained solid: earnings of $1.71 per share exceeded the $1.69 consensus estimate, while revenue of $281.12 million topped expectations of $277.35 million and increased 19.3% year over year. AppFolio financial results
• Positive Sentiment: Analyst sentiment remains generally favorable, with a consensus Buy rating and an average price target of $243.50. Benchmark raised its target to $226, while KeyCorp maintained an Overweight rating. These targets suggest potential upside if AppFolio sustains its growth. AppFolio analyst ratings and price targets
• Neutral Sentiment: Major shareholder Maurice Duca sold a combined 15,900 shares on August 10–11 for approximately $3.57 million, reducing several reported positions. Because the sales were made under a 10b5-1 plan, they are less reliable as a signal of management’s current outlook. SEC filing for Maurice Duca’s AppFolio share sale
• Neutral Sentiment: General Counsel Evan Pickering sold 463 shares, and insider Don Rigler sold 150 shares. These transactions were also made under trading plans, with the stated purpose of covering tax-withholding obligations related to equity awards. SEC filings for AppFolio insider sales
• Negative Sentiment: The repeated insider selling can still create a short-term overhang, particularly as Duca reduced some holdings by meaningful percentages. AppFolio’s elevated valuation, including a P/E ratio near 45, also leaves the stock sensitive to concerns about growth and execution. Wall Street Zen’s downgrade to Hold and Piper Sandler’s lower $210 target reinforce those risks.

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.