Evan Pickering Sells 141 Shares of AppFolio (NASDAQ:APPF) Stock

Key Points

• AppFolio General Counsel Evan Pickering sold 141 shares at an average price of $202.01, generating $28,483.41 and reducing his position by 2.5% to 5,489 shares. The sale was conducted under a Rule 10b5-1 plan to cover tax withholding on vested equity awards.
• AppFolio reported quarterly EPS of $1.71, slightly above the $1.69 consensus, while revenue of $281.12 million exceeded estimates and rose 19.3% year over year.
• Shares recently traded at $196.77, while analysts maintained a broadly positive outlook with a consensus “Buy” rating and an average price target of $243.50.

AppFolio, Inc. (NASDAQ:APPF - Get Free Report) General Counsel Evan Pickering sold 141 shares of the business's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $202.01, for a total transaction of $28,483.41. Following the completion of the sale, the general counsel owned 5,489 shares in the company, valued at $1,108,832.89. This represents a 2.50% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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.

Evan Pickering also recently made the following trade(s):

• On Wednesday, August 12th, Evan Pickering sold 322 shares of AppFolio stock. The shares were sold at an average price of $200.06, for a total transaction of $64,419.32.
• On Wednesday, August 5th, Evan Pickering sold 661 shares of AppFolio stock. The shares were sold at an average price of $200.49, for a total transaction of $132,523.89.
• On Friday, June 12th, Evan Pickering sold 660 shares of AppFolio stock. The stock was sold at an average price of $155.25, for a total transaction of $102,465.00.

AppFolio Stock Performance

Shares of NASDAQ APPF traded down $6.25 during mid-day trading on Wednesday, hitting $196.77. 665,842 shares of the stock were exchanged, compared to its average volume of 397,303. AppFolio, Inc. has a twelve month low of $142.56 and a twelve month high of $288.73. The stock's fifty day simple moving average is $170.67 and its two-hundred day simple moving average is $170.78. The company has a market cap of $6.97 billion, a P/E ratio of 44.92 and a beta of 0.78.

AppFolio (NASDAQ:APPF - Get Free Report) last announced its earnings results on Thursday, July 23rd. The software maker reported $1.71 EPS for the quarter, topping the consensus estimate of $1.69 by $0.02. The business had revenue of $281.12 million for 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%.AppFolio's revenue was up 19.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.38 EPS. As a group, equities research analysts predict that AppFolio, Inc. will post 5.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on APPF shares. Zacks Research upgraded shares of AppFolio from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 28th. Piper Sandler cut their price target on AppFolio from $245.00 to $210.00 and set an "overweight" rating on the stock in a research note on Friday, April 24th. KeyCorp reaffirmed an "overweight" rating on shares of AppFolio in a research note on Monday, July 6th. Guggenheim started coverage on shares of AppFolio in a research report on Wednesday, July 22nd. They set a "buy" rating and a $232.00 price target for the company. Finally, Benchmark boosted their price target on shares of AppFolio from $222.00 to $226.00 and gave the stock a "buy" rating in a research note on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $243.50.

Institutional Trading of AppFolio

Institutional investors and hedge funds have recently modified their holdings of the stock. 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 worth $26,000 after acquiring an additional 56 shares during the last quarter. Optiver Holding B.V. increased its stake in AppFolio by 827.8% in 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. increased its stake in AppFolio by 48.8% in 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 AppFolio in the third quarter worth $55,000. Finally, Employees Retirement System of Texas bought a new position in shares of AppFolio during the third quarter worth $58,000. 85.19% of the stock is owned by institutional investors.

AppFolio News Summary

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.

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.

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