AppFolio (NASDAQ:APPF) Insider Sells $382,970.28 in Stock

Key Points

• Matthew Mazza, an insider at AppFolio, sold 1,364 shares of the company at an average price of $280.77, reducing his ownership by 4.87% to approximately 26,651 shares.
• AppFolio's stock increased by 1.5%, reaching $280.22, with a market cap of $10.05 billion and a P/E ratio of 82.91.
• Several analysts have set optimistic price targets for AppFolio, with DA Davidson and Piper Sandler both issuing target prices of $350.00, indicating strong buy sentiments.

AppFolio, Inc. (NASDAQ:APPF - Get Free Report) insider Matthew S. Mazza sold 1,364 shares of the company's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $280.77, for a total value of $382,970.28. Following the completion of the sale, the insider directly owned 26,651 shares of the company's stock, valued at approximately $7,482,801.27. This represents a 4.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

AppFolio Stock Performance

APPF traded up $1.68 during midday trading on Friday, hitting $281.57. The stock had a trading volume of 346,057 shares, compared to its average volume of 223,413. The company has a market cap of $10.09 billion, a P/E ratio of 50.83 and a beta of 0.89. The business has a fifty day moving average of $273.92 and a 200 day moving average of $238.57. AppFolio, Inc. has a 1 year low of $189.01 and a 1 year high of $326.04.

AppFolio (NASDAQ:APPF - Get Free Report) last issued its earnings results on Thursday, July 31st. The software maker reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.11. The business had revenue of $235.58 million during the quarter, compared to analyst estimates of $230.10 million. AppFolio had a return on equity of 26.32% and a net margin of 23.54%.AppFolio's revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.12 earnings per share. AppFolio has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on APPF shares. DA Davidson reaffirmed a "buy" rating and issued a $350.00 target price on shares of AppFolio in a research note on Friday, August 1st. Keefe, Bruyette & Woods boosted their price objective on AppFolio from $295.00 to $311.00 and gave the company a "market perform" rating in a research report on Wednesday, September 3rd. Finally, Piper Sandler upgraded AppFolio from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $240.00 to $350.00 in a research report on Friday, August 1st. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, AppFolio currently has a consensus rating of "Moderate Buy" and a consensus target price of $311.80.

Hedge Funds Weigh In On AppFolio

A number of hedge funds and other institutional investors have recently made changes to their positions in APPF. Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of AppFolio during the fourth quarter valued at approximately $103,503,000. William Blair Investment Management LLC raised its holdings in shares of AppFolio by 73.6% during the second quarter. William Blair Investment Management LLC now owns 733,428 shares of the software maker's stock valued at $168,894,000 after acquiring an additional 310,834 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of AppFolio by 121.2% during the first quarter. Principal Financial Group Inc. now owns 401,888 shares of the software maker's stock valued at $88,375,000 after acquiring an additional 220,239 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of AppFolio by 4,272.4% during the first quarter. Jacobs Levy Equity Management Inc. now owns 172,972 shares of the software maker's stock valued at $38,037,000 after acquiring an additional 169,016 shares in the last quarter. Finally, Fiera Capital Corp bought a new position in shares of AppFolio during the first quarter valued at approximately $35,896,000. Institutional investors own 85.19% of the company's stock.

AppFolio Company Profile

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.