AppFolio (NASDAQ:APPF) Stock: Insider Evan Pickering Sells 464 Shares

Key Points

• AppFolio General Counsel Evan Pickering sold 464 shares for about $102,762, a 9.47% reduction in his holdings. 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, topping the $1.79 consensus estimate, while revenue rose 18.5% year over year to $295.69 million.
• Analysts give the stock a Moderate Buy consensus rating, with an average price target of $250; shares traded at $222.80 in Thursday midday trading.

AppFolio, Inc. (NASDAQ:APPF - Get Free Report) General Counsel Evan Pickering sold 464 shares of the firm's stock in a transaction that occurred on Wednesday, November 11th. The stock was sold at an average price of $221.47, for a total transaction of $102,762.08. Following the completion of the transaction, the general counsel directly owned 4,438 shares in the company, valued at approximately $982,883.86. The trade was a 9.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 Trading Down 0.9%

APPF stock traded down $2.05 during midday trading on Thursday, reaching $222.80. 221,448 shares of the company's stock traded hands, compared to its average volume of 383,836. AppFolio, Inc. has a 52-week low of $142.56 and a 52-week high of $251.09. The stock has a market cap of $7.90 billion, a P/E ratio of 47.00 and a beta of 0.87. The stock's 50-day moving average is $212.28 and its 200 day moving average is $184.30.

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, topping the consensus estimate of $1.79 by $0.03. AppFolio had a net margin of 15.62% and a return on equity of 33.56%. The business had revenue of $295.69 million for the quarter, compared to the consensus estimate of $294.46 million. During the same period last year, the firm earned $1.31 earnings per share. The company's quarterly revenue was up 18.5% on a year-over-year basis. As a group, research analysts expect that AppFolio, Inc. will post 5.18 EPS for the current fiscal year.

Hedge Funds Weigh In On AppFolio

Large investors have recently made changes to their positions in the business. Optiver Holding B.V. boosted its stake in shares of AppFolio by 827.8% in the first quarter. Optiver Holding B.V. now owns 167 shares of the software maker's stock worth $26,000 after acquiring an additional 149 shares during the period. Global Retirement Partners LLC grew its position in shares of AppFolio by 198.1% during the third quarter. Global Retirement Partners LLC now owns 161 shares of the software maker's stock worth $32,000 after purchasing an additional 107 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in AppFolio during the 2nd quarter valued at approximately $36,000. Hilton Head Capital Partners LLC bought a new stake in AppFolio during the 3rd quarter valued at approximately $40,000. Finally, Versant Capital Management Inc raised its stake in AppFolio by 169.0% during the 2nd quarter. Versant Capital Management Inc now owns 452 shares of the software maker's stock valued at $72,000 after purchasing an additional 284 shares during the period. 85.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Zacks Research cut AppFolio from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 23rd. KeyCorp reissued an "overweight" rating on shares of AppFolio in a report on Wednesday, October 14th. Keefe, Bruyette & Woods raised their target price on shares of AppFolio from $233.00 to $255.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 21st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of AppFolio in a report on Wednesday, November 4th. Finally, Guggenheim upped their price target on shares of AppFolio from $232.00 to $239.00 and gave the stock a "buy" rating in a research report on Friday, October 23rd. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $250.00.

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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