AppFolio (NASDAQ:APPF) Insider Sells 150 Shares

Key Points

• AppFolio insider Don Rigler sold 150 shares at an average price of $195.87, generating $29,380.50 and reducing his position by 3.5%. The sale occurred under a pre-arranged Rule 10b5-1 plan to cover tax withholding on vested equity awards.
• AppFolio’s latest quarterly results modestly exceeded expectations, with EPS of $1.71 versus $1.69 forecast and revenue of $281.12 million versus $277.35 million. Revenue grew 19.3% year over year.
• Shares recently traded at $196.77, down 3.1%, while analysts maintained a broadly positive outlook: the consensus rating is “Buy” with a $243.50 average price target. However, Wall Street Zen downgraded the stock to “Hold,” and Piper Sandler previously reduced its target to $210.

AppFolio, Inc. (NASDAQ:APPF - Get Free Report) insider Don Rigler sold 150 shares of the firm's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $195.87, for a total value of $29,380.50. Following the completion of the transaction, the insider owned 4,132 shares of the company's stock, valued at $809,334.84. This trade represents a 3.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Don Rigler also recently made the following trade(s):

• On Friday, June 12th, Don Rigler sold 150 shares of AppFolio stock. The shares were sold at an average price of $159.56, for a total value of $23,934.00.

AppFolio Trading Down 3.1%

Shares of APPF stock traded down $6.25 during mid-day trading on Wednesday, reaching $196.77. The stock had a trading volume of 665,842 shares, compared to its average volume of 397,303. The business's fifty day moving average is $170.67 and its 200-day moving average is $170.78. The firm has a market cap of $6.97 billion, a price-to-earnings ratio of 44.92 and a beta of 0.78. AppFolio, Inc. has a 1-year low of $142.56 and a 1-year high of $288.73.

AppFolio (NASDAQ:APPF - Get Free Report) last released its earnings results on Thursday, July 23rd. The software maker reported $1.71 EPS for the quarter, topping analysts' consensus estimates of $1.69 by $0.02. The firm had revenue of $281.12 million during the quarter, compared to the consensus estimate of $277.35 million. AppFolio had a return on equity of 32.42% and a net margin of 15.13%.The company's revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.38 earnings per share. On average, analysts forecast that AppFolio, Inc. will post 5.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on APPF shares. Wall Street Zen lowered shares of AppFolio from a "buy" rating to a "hold" rating in a research note on Sunday, July 26th. Zacks Research raised AppFolio from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 28th. Weiss Ratings raised AppFolio from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday. KeyCorp reaffirmed an "overweight" rating on shares of AppFolio in a report on Monday, July 6th. Finally, Piper Sandler decreased their price objective on shares of AppFolio from $245.00 to $210.00 and set an "overweight" rating for the company in a research report on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $243.50.

More AppFolio News

Here are the key news stories impacting AppFolio this week:

• Positive Sentiment: AppFolio’s latest quarterly results were modestly ahead of expectations, with earnings per share of $1.71 versus the $1.69 consensus estimate and revenue of $281.12 million versus $277.35 million. Revenue increased 19.3% year over year, supporting the company’s growth narrative.
• Positive Sentiment: Analysts remain broadly constructive, with a consensus “Buy” rating and an average price target of $243.50, above recent trading levels. Benchmark raised its price objective to $226, while DA Davidson set a $225 target.
• Neutral Sentiment: Major shareholder Maurice J. Duca sold several blocks totaling 15,900 shares on August 10–11 for approximately $3.57 million. The transactions were executed under a pre-arranged Rule 10b5-1 plan, which reduces their significance as a discretionary bearish signal. SEC filing on Maurice Duca’s AppFolio share sales
• Neutral Sentiment: General Counsel Evan Pickering sold 463 shares, while insider Don Rigler sold 150 shares. These sales were also made under Rule 10b5-1 plans and were specifically intended to cover tax-withholding obligations tied to vested equity awards. SEC filing on AppFolio insider sales
• Negative Sentiment: The scale and number of recent insider disposals may weigh on sentiment, particularly because Duca reduced several reported holdings by roughly 6.7% to 25.5%. Investors may interpret repeated selling as a near-term supply or confidence concern, despite the pre-arranged plans.
• Negative Sentiment: Wall Street Zen downgraded APPF from “Buy” to “Hold,” and Piper Sandler previously cut its target to $210, highlighting valuation and execution concerns. AppFolio trades at a relatively high forward earnings multiple, leaving the stock sensitive to changes in growth expectations.

Institutional Trading of AppFolio

Institutional investors and hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its stake in AppFolio by 101.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker's stock valued at $26,000 after acquiring an additional 56 shares during the period. Optiver Holding B.V. lifted its holdings in AppFolio by 827.8% during the first 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 in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in AppFolio by 48.8% during the third 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 in the last quarter. Advisory Services Network LLC acquired a new stake in shares of AppFolio in the third quarter valued at about $55,000. Finally, Employees Retirement System of Texas acquired a new stake in shares of AppFolio in the third quarter valued at about $58,000. 85.19% of the stock is currently owned by hedge funds and other institutional investors.

AppFolio Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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