Insider Selling: AppFolio (NASDAQ:APPF) Director Sells 2,500 Shares of Stock

Key Points

• Director Janet Kerr sold 2,500 shares of AppFolio at an average price of $285.04, reducing her ownership by 17.25% and leaving her with 11,995 shares valued at approximately $3.42 million.
• AppFolio's stock price decreased by 1.0%, reaching $276.72, with a market capitalization of $9.92 billion and a P/E ratio of 49.95.
• Institutional investors hold 85.19% of AppFolio, with several firms increasing their stakes significantly, including Fifth Third Bancorp which raised its stake by 53.0%.

AppFolio, Inc. (NASDAQ:APPF - Get Free Report) Director Janet Kerr sold 2,500 shares of the company's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $285.04, for a total transaction of $712,600.00. Following the transaction, the director directly owned 11,995 shares in the company, valued at approximately $3,419,054.80. This trade represents a 17.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

AppFolio Trading Up 1.5%

Shares of NASDAQ:APPF traded up $4.13 on Monday, reaching $280.22. 237,479 shares of the company were exchanged, compared to its average volume of 236,505. AppFolio, Inc. has a 1-year low of $189.01 and a 1-year high of $326.04. The firm has a market cap of $10.05 billion, a price-to-earnings ratio of 50.58 and a beta of 0.89. The company has a 50-day moving average of $271.08 and a 200-day moving average of $237.14.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The software maker reported $1.38 earnings per share for the quarter, topping analysts' consensus estimates of $1.27 by $0.11. AppFolio had a net margin of 23.54% and a return on equity of 26.32%. The business had revenue of $235.58 million for the quarter, compared to analysts' expectations of $230.10 million. During the same period in the prior year, the company posted $1.12 EPS. The business's revenue for the quarter was up 19.4% on a year-over-year basis. AppFolio has set its FY 2025 guidance at EPS. As a group, analysts forecast that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on APPF. Keefe, Bruyette & Woods upped their price target on shares of AppFolio from $295.00 to $311.00 and gave the stock a "market perform" rating in a research note on Wednesday, September 3rd. Piper Sandler raised shares of AppFolio from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $240.00 to $350.00 in a research note on Friday, August 1st. Finally, DA Davidson reissued a "buy" rating and issued a $350.00 price objective on shares of AppFolio in a research note on Friday, August 1st. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, AppFolio presently has a consensus rating of "Moderate Buy" and an average target price of $311.80.

Institutional Investors Weigh In On AppFolio

Large investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp grew its stake in AppFolio by 53.0% in the 1st quarter. Fifth Third Bancorp now owns 179 shares of the software maker's stock valued at $39,000 after acquiring an additional 62 shares during the last quarter. Versant Capital Management Inc lifted its holdings in AppFolio by 4,975.0% in the 1st quarter. Versant Capital Management Inc now owns 203 shares of the software maker's stock valued at $45,000 after purchasing an additional 199 shares in the last quarter. Huntington National Bank lifted its holdings in AppFolio by 58.7% in the 2nd quarter. Huntington National Bank now owns 200 shares of the software maker's stock valued at $46,000 after purchasing an additional 74 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in AppFolio in the 2nd quarter valued at about $52,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in AppFolio in the 1st quarter valued at about $55,000. 85.19% 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.