AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Klaus Schauser Sells 3,000 Shares

Key Points

• Klaus Schauser, a major shareholder of AppFolio, Inc., sold 3,000 shares at an average price of $295.14, resulting in a 0.99% decrease in his ownership stake.
• AppFolio's stock increased by 19.4% on the trading day following the sale, reaching $319.15 per share.
• Brokerages have recently upgraded their ratings on AppFolio, with price targets set as high as $350.00, indicating strong investor interest and potential for growth.

AppFolio, Inc. (NASDAQ:APPF - Get Free Report) major shareholder Klaus Schauser sold 3,000 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $295.14, for a total transaction of $885,420.00. Following the transaction, the insider directly owned 300,000 shares of the company's stock, valued at $88,542,000. This represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

AppFolio Price Performance

NASDAQ:APPF traded up $51.77 during trading hours on Friday, hitting $319.15. The stock had a trading volume of 1,105,219 shares, compared to its average volume of 245,217. The company has a 50 day simple moving average of $235.88 and a two-hundred day simple moving average of $226.65. AppFolio, Inc. has a one year low of $189.01 and a one year high of $320.36. The firm has a market capitalization of $11.50 billion, a price-to-earnings ratio of 57.61 and a beta of 0.95.

AppFolio (NASDAQ:APPF - Get Free Report) last issued its earnings results on Thursday, July 31st. The software maker reported $1.38 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $0.11. The company had revenue of $235.58 million for the quarter, compared to analysts' expectations of $230.10 million. AppFolio had a net margin of 23.54% and a return on equity of 26.19%. The firm's revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.12 EPS. Equities research analysts anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods raised shares of AppFolio from an "underperform" rating to a "market perform" rating and boosted their target price for the company from $205.00 to $267.00 in a report on Thursday. DA Davidson reissued a "buy" rating and set a $350.00 target price on shares of AppFolio in a report on Friday. Finally, Piper Sandler raised shares of AppFolio from a "neutral" rating to an "overweight" rating and raised their price target for the company from $240.00 to $350.00 in a report on Friday. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $303.00.

Hedge Funds Weigh In On AppFolio

A number of hedge funds have recently modified their holdings of APPF. American Century Companies Inc. increased its position in shares of AppFolio by 16.4% in the fourth quarter. American Century Companies Inc. now owns 4,693 shares of the software maker's stock valued at $1,158,000 after acquiring an additional 661 shares during the period. Norges Bank bought a new stake in shares of AppFolio during the 4th quarter valued at about $68,037,000. Pictet Asset Management Holding SA boosted its stake in shares of AppFolio by 15.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 3,133 shares of the software maker's stock valued at $773,000 after purchasing an additional 417 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of AppFolio by 11.4% during the 4th quarter. Alliancebernstein L.P. now owns 30,749 shares of the software maker's stock valued at $7,586,000 after purchasing an additional 3,142 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of AppFolio by 8.8% during the 4th quarter. Franklin Resources Inc. now owns 248,850 shares of the software maker's stock valued at $61,396,000 after purchasing an additional 20,195 shares in the last quarter. Hedge funds and other institutional investors own 85.19% of the company's stock.

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.