AppFolio (NASDAQ:APPF) Insider Don Rigler Sells 150 Shares of Stock

Key Points

• Insider Don Rigler sold 150 AppFolio shares for $34,558.50, reducing his direct holdings by 3.73% to 3,875 shares. The sale was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding on vested equity awards.
• AppFolio reported quarterly EPS of $1.82, beating the $1.79 consensus estimate, and revenue of $295.69 million, up 18.5% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $250; shares were trading at $222.80 in the article.

AppFolio, Inc. (NASDAQ:APPF - Get Free Report) insider Don Rigler sold 150 shares of the firm's stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $230.39, for a total value of $34,558.50. Following the completion of the sale, the insider directly owned 3,875 shares of the company's stock, valued at $892,761.25. The trade was a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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.

AppFolio Price Performance

Shares of AppFolio stock traded down $2.05 on Thursday, reaching $222.80. The company had a trading volume of 221,448 shares, compared to its average volume of 383,836. The firm has a market cap of $7.90 billion, a price-to-earnings ratio of 47.00 and a beta of 0.87. The firm's 50-day moving average price is $212.28 and its two-hundred day moving average price is $184.30. AppFolio, Inc. has a 1 year low of $142.56 and a 1 year high of $251.09.

AppFolio (NASDAQ:APPF - Get Free Report) last released its quarterly earnings results on Thursday, October 22nd. The software maker reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.03. The company had revenue of $295.69 million for the quarter, compared to analyst estimates of $294.46 million. AppFolio had a return on equity of 33.56% and a net margin of 15.62%. AppFolio's quarterly revenue was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.31 EPS. As a group, analysts anticipate that AppFolio, Inc. will post 5.18 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of AppFolio in a research report on Wednesday, November 4th. DA Davidson raised their target price on shares of AppFolio from $240.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, October 23rd. Zacks Research cut shares of AppFolio from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 23rd. Wall Street Zen downgraded shares of AppFolio from a "buy" rating to a "hold" rating in a report on Sunday, July 26th. Finally, UBS Group upped their price target on shares of AppFolio from $220.00 to $240.00 and gave the company a "neutral" rating in a report on Friday, October 23rd. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $250.00.

Hedge Funds Weigh In On AppFolio

Several hedge funds have recently bought and sold shares of APPF. Principal Financial Group Inc. increased its stake in AppFolio by 20.9% in the first quarter. Principal Financial Group Inc. now owns 1,505,882 shares of the software maker's stock worth $237,665,000 after purchasing an additional 259,933 shares during the period. Wellington Management Group LLP bought a new stake in shares of AppFolio during the second quarter worth $36,063,000. Lead Edge Capital Management LLC purchased a new stake in shares of AppFolio during the first quarter valued at $33,183,000. Bank of New York Mellon Corp purchased a new stake in shares of AppFolio during the second quarter valued at $23,524,000. Finally, William Blair Investment Management LLC boosted its stake in shares of AppFolio by 15.8% during the third quarter. William Blair Investment Management LLC now owns 836,167 shares of the software maker's stock valued at $167,668,000 after purchasing an additional 114,341 shares during the period. Institutional investors own 85.19% of the company's stock.

AppFolio Company Profile

AppFolio, Inc. provides cloud-based software for the real estate industry. Its products help property managers handle day-to-day operations, including accounting, leasing, marketing, maintenance, and communication with residents and owners. The company also offers software for real estate investment managers, supporting investor relations and investment operations. Its offerings include the AppFolio Property Manager platform, with solutions designed for businesses of different sizes and operating needs.

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