William Shane Trigg Sells 3,500 Shares of AppFolio, Inc. (NASDAQ:APPF) Stock

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

AppFolio Price Performance

Shares of AppFolio stock opened at $230.65 on Thursday. The business has a 50-day moving average of $222.29 and a 200-day moving average of $231.03. The company has a market capitalization of $8.38 billion, a PE ratio of 64.25 and a beta of 0.83. AppFolio, Inc. has a 1-year low of $164.29 and a 1-year high of $274.56.

AppFolio (NASDAQ:APPF) last announced its earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.26. The company had revenue of $206.00 million during the quarter, compared to the consensus estimate of $199.11 million. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The company’s revenue was up 24.5% on a year-over-year basis. During the same period last year, the firm earned $0.26 earnings per share. On average, equities analysts expect that AppFolio, Inc. will post 3.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AppFolio

A number of hedge funds have recently bought and sold shares of APPF. SG Americas Securities LLC grew its stake in AppFolio by 29.7% in the first quarter. SG Americas Securities LLC now owns 1,498 shares of the software maker’s stock worth $370,000 after purchasing an additional 343 shares in the last quarter. US Bancorp DE grew its stake in AppFolio by 200.8% in the first quarter. US Bancorp DE now owns 1,444 shares of the software maker’s stock worth $356,000 after purchasing an additional 964 shares in the last quarter. Avantax Advisory Services Inc. acquired a new position in AppFolio in the first quarter worth about $306,000. State Board of Administration of Florida Retirement System grew its stake in AppFolio by 17.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 6,456 shares of the software maker’s stock worth $1,593,000 after purchasing an additional 970 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in AppFolio by 3.6% in the first quarter. Vanguard Group Inc. now owns 2,152,626 shares of the software maker’s stock worth $531,139,000 after purchasing an additional 73,965 shares in the last quarter. 62.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

APPF has been the topic of a number of recent analyst reports. Piper Sandler Companies reissued an “overweight” rating and set a $300.00 price target on shares of AppFolio in a research note on Friday, July 26th. StockNews.com lowered AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. KeyCorp cut their target price on AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Piper Sandler cut their target price on AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Finally, DA Davidson increased their target price on AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently 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.