AppFolio (NASDAQ:APPF) CFO Timothy Mathias Eaton Sells 2,585 Shares of Stock

AppFolio, Inc. (NASDAQ:APPF) CFO Timothy Mathias Eaton sold 2,585 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $160.07, for a total value of $413,780.95. Following the completion of the transaction, the chief financial officer owned 18,036 shares in the company, valued at $2,887,022.52. This trade represents a 12.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

AppFolio Price Performance

Shares of NASDAQ APPF opened at $158.21 on Tuesday. The business’s 50-day moving average price is $160.98 and its two-hundred day moving average price is $187.34. AppFolio, Inc. has a one year low of $142.73 and a one year high of $326.04. The company has a market capitalization of $5.59 billion, a P/E ratio of 37.67 and a beta of 0.80.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, April 23rd. The software maker reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.14. AppFolio had a return on equity of 32.35% and a net margin of 15.27%.The firm had revenue of $262.21 million for the quarter, compared to the consensus estimate of $258.13 million. During the same quarter in the previous year, the company posted $1.21 earnings per share. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. On average, equities analysts anticipate that AppFolio, Inc. will post 5.04 EPS for the current year.

Institutional Trading of AppFolio

Several hedge funds have recently added to or reduced their stakes in APPF. EverSource Wealth Advisors LLC boosted 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 valued at $26,000 after purchasing an additional 56 shares during the period. Optiver Holding B.V. boosted its stake in AppFolio by 827.8% during the 1st quarter. Optiver Holding B.V. now owns 167 shares of the software maker’s stock valued at $26,000 after purchasing an additional 149 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in AppFolio by 48.8% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker’s stock valued at $53,000 after purchasing an additional 63 shares during the period. Advisory Services Network LLC bought a new stake in AppFolio during the 3rd quarter valued at approximately $55,000. Finally, Employees Retirement System of Texas bought a new stake in AppFolio during the 3rd quarter valued at approximately $58,000. Institutional investors own 85.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on APPF. UBS Group set a $210.00 target price on AppFolio in a research note on Friday, April 24th. Wall Street Zen upgraded AppFolio from a “hold” rating to a “buy” rating in a research note on Sunday, March 15th. Weiss Ratings downgraded AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday. Piper Sandler lowered 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. Finally, Benchmark boosted their target price on AppFolio from $222.00 to $226.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $252.29.

About AppFolio

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.