Insider Selling: AppFolio Inc (APPF) Major Shareholder Sells 3,250 Shares of Stock
AppFolio Inc (NASDAQ:APPF) major shareholder William E. Oberndorf sold 3,250 shares of the business’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $27.00, for a total transaction of $87,750.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
AppFolio Inc (NASDAQ:APPF) traded up 0.89% during trading on Thursday, reaching $28.25. 47,342 shares of the company were exchanged. AppFolio Inc has a 12 month low of $12.07 and a 12 month high of $28.58. The firm’s market capitalization is $956.38 million. The stock has a 50 day moving average price of $26.14 and a 200 day moving average price of $23.45.
AppFolio (NASDAQ:APPF) last posted its earnings results on Friday, May 5th. The software maker reported $0.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.09. AppFolio had a negative net margin of 11.11% and a negative return on equity of 15.48%. The firm had revenue of $32.13 million during the quarter, compared to the consensus estimate of $30.20 million. On average, analysts expect that AppFolio Inc will post $0.14 EPS for the current fiscal year.
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A number of institutional investors have recently bought and sold shares of APPF. Teachers Advisors LLC increased its position in AppFolio by 9.2% in the first quarter. Teachers Advisors LLC now owns 13,194 shares of the software maker’s stock valued at $359,000 after buying an additional 1,117 shares during the period. Spark Investment Management LLC acquired a new position in AppFolio during the first quarter valued at $388,000. American International Group Inc. increased its position in AppFolio by 7.2% in the first quarter. American International Group Inc. now owns 4,683 shares of the software maker’s stock valued at $127,000 after buying an additional 314 shares during the period. Blair William & Co. IL increased its position in AppFolio by 3.6% in the first quarter. Blair William & Co. IL now owns 109,040 shares of the software maker’s stock valued at $2,710,000 after buying an additional 3,775 shares during the period. Finally, Bank of New York Mellon Corp increased its position in AppFolio by 9.5% in the first quarter. Bank of New York Mellon Corp now owns 28,094 shares of the software maker’s stock valued at $764,000 after buying an additional 2,445 shares during the period. Hedge funds and other institutional investors own 13.70% of the company’s stock.
APPF has been the subject of a number of research reports. Credit Suisse Group AG boosted their target price on shares of AppFolio from $19.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 28th. William Blair reissued a “positive” rating on shares of AppFolio in a research note on Tuesday, February 28th. Pacific Crest reissued a “hold” rating on shares of AppFolio in a research note on Monday. Finally, Zacks Investment Research raised shares of AppFolio from a “hold” rating to a “strong-buy” rating and set a $32.00 target price for the company in a research note on Thursday. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. AppFolio has a consensus rating of “Buy” and a consensus price target of $24.00.
AppFolio Company Profile
AppFolio, Inc is a provider of industry-specific, cloud-based software solutions for small and medium-sized businesses (SMBs) in the property management and legal industries. The Company’s mobile-optimized software solutions enable its customers to work at any time and from anywhere across multiple devices.
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