Alexander Wolf Sells 10,000 Shares of AppFolio, Inc. (NASDAQ:APPF) Stock

AppFolio, Inc. (NASDAQ:APPF) Director Alexander Wolf sold 10,000 shares of AppFolio stock in a transaction on Monday, May 13th. The stock was sold at an average price of $250.26, for a total transaction of $2,502,600.00. Following the sale, the director now directly owns 182,584 shares of the company’s stock, valued at approximately $45,693,471.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

AppFolio Stock Performance

NASDAQ APPF opened at $246.88 on Friday. The stock has a market cap of $8.94 billion, a price-to-earnings ratio of 119.27 and a beta of 0.79. AppFolio, Inc. has a 52-week low of $138.49 and a 52-week high of $256.73. The business has a 50 day simple moving average of $231.79 and a 200 day simple moving average of $210.82.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings data on Thursday, April 25th. The software maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.59 by $0.09. The business had revenue of $187.43 million for the quarter, compared to analysts’ expectations of $173.66 million. AppFolio had a net margin of 11.38% and a return on equity of 13.51%. On average, analysts predict that AppFolio, Inc. will post 2.87 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on APPF. KeyCorp lifted their price objective on AppFolio from $264.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. BTIG Research started coverage on AppFolio in a research report on Friday, January 19th. They set a “buy” rating and a $215.00 target price for the company. Keefe, Bruyette & Woods increased their price target on shares of AppFolio from $215.00 to $238.00 and gave the company a “market perform” rating in a research report on Friday, April 26th. Stephens restated an “overweight” rating and set a $241.00 price objective on shares of AppFolio in a report on Friday, April 26th. Finally, JPMorgan Chase & Co. upped their target price on shares of AppFolio from $228.00 to $237.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $241.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank bought a new stake in AppFolio in the 4th quarter valued at approximately $38,458,000. Zeno Equity Partners LLP acquired a new position in AppFolio during the fourth quarter worth $33,434,000. Lord Abbett & CO. LLC bought a new position in AppFolio in the third quarter valued at $33,062,000. Principal Financial Group Inc. increased its stake in AppFolio by 2,359.8% in the 1st quarter. Principal Financial Group Inc. now owns 151,646 shares of the software maker’s stock valued at $37,417,000 after buying an additional 145,481 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in AppFolio by 344.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 155,127 shares of the software maker’s stock worth $38,276,000 after buying an additional 120,246 shares in the last quarter. 62.34% of the stock is owned by institutional investors and hedge funds.

About AppFolio

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.