Marc Stad Sells 400,000 Shares of AppFolio, Inc. (APPF) Stock
AppFolio, Inc. (NASDAQ:APPF) major shareholder Marc Stad sold 400,000 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $30.00, for a total value of $12,000,000.00. Following the completion of the sale, the insider now owns 25,780 shares in the company, valued at approximately $773,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Shares of AppFolio, Inc. (APPF) remained flat at $31.40 during trading on Wednesday. 122,334 shares of the company’s stock traded hands. The firm has a 50 day moving average of $28.42 and a 200 day moving average of $25.05. AppFolio, Inc. has a 52-week low of $13.34 and a 52-week high of $35.20. The firm’s market cap is $1.06 billion.
AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Friday, May 5th. The software maker reported $0.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.09. The business had revenue of $32.13 million during the quarter, compared to the consensus estimate of $30.20 million. AppFolio had a negative return on equity of 5.77% and a negative net margin of 3.51%. Analysts forecast that AppFolio, Inc. will post $0.14 earnings per share for the current year.
APPF has been the topic of a number of recent analyst reports. Credit Suisse Group increased their target price on AppFolio from $19.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 28th. William Blair restated a “positive” rating on shares of AppFolio in a research note on Tuesday, February 28th. Pacific Crest restated a “hold” rating on shares of AppFolio in a research note on Monday, May 8th. Finally, Zacks Investment Research upgraded AppFolio from a “hold” rating to a “strong-buy” rating and set a $32.00 price target on the stock in a research note on Thursday, May 11th.
Several institutional investors have recently modified their holdings of the company. Dragoneer Investment Group LLC increased its position in shares of AppFolio by 3.2% in the first quarter. Dragoneer Investment Group LLC now owns 2,124,003 shares of the software maker’s stock valued at $57,773,000 after buying an additional 66,659 shares in the last quarter. Vanguard Group Inc. increased its position in shares of AppFolio by 25.3% in the first quarter. Vanguard Group Inc. now owns 386,278 shares of the software maker’s stock valued at $10,507,000 after buying an additional 78,048 shares in the last quarter. Blair William & Co. IL increased its position in shares of 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 in the last quarter. State Street Corp increased its position in shares of AppFolio by 14.4% in the fourth quarter. State Street Corp now owns 96,083 shares of the software maker’s stock valued at $2,293,000 after buying an additional 12,096 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of AppFolio by 12.0% in the first quarter. Geode Capital Management LLC now owns 88,033 shares of the software maker’s stock valued at $2,394,000 after buying an additional 9,458 shares in the last quarter. Institutional investors and hedge funds own 16.61% of the company’s stock.
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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