Timothy Mathias Eaton Sells 373 Shares of AppFolio (NASDAQ:APPF) Stock

Key Points

• AppFolio CFO Timothy Mathias Eaton sold 373 shares for approximately $75,574 under a pre-arranged Rule 10b5-1 trading plan, reducing his ownership by 2.18% to 16,714 shares.
• AppFolio shares rose 1.7% to $218.85, while the company’s latest quarterly results exceeded expectations: EPS was $1.71 versus $1.69 expected, and revenue increased 19.3% year over year to $281.12 million.
• Institutional investors own 85.19% of AppFolio, and analysts maintain a broadly positive outlook with a consensus “Buy” rating and an average price target of $243.50.

AppFolio, Inc. (NASDAQ:APPF - Get Free Report) CFO Timothy Mathias Eaton sold 373 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $202.61, for a total value of $75,573.53. Following the sale, the chief financial officer owned 16,714 shares of the company's stock, valued at $3,386,423.54. This represents a 2.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Timothy Mathias Eaton also recently made the following trade(s):

• On Friday, June 12th, Timothy Mathias Eaton sold 2,585 shares of AppFolio stock. The stock was sold at an average price of $160.07, for a total value of $413,780.95.

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AppFolio Trading Up 1.7%

APPF stock traded up $3.63 during midday trading on Thursday, hitting $218.85. The company had a trading volume of 333,026 shares, compared to its average volume of 395,396. AppFolio, Inc. has a 52 week low of $142.56 and a 52 week high of $288.73. The stock's 50 day moving average price is $175.08 and its 200 day moving average price is $170.20. The stock has a market cap of $7.75 billion, a price-to-earnings ratio of 49.97 and a beta of 0.78.

AppFolio (NASDAQ:APPF - Get Free Report) last issued its earnings results on Thursday, July 23rd. The software maker reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.02. AppFolio had a net margin of 15.13% and a return on equity of 32.42%. The firm had revenue of $281.12 million for the quarter, compared to analysts' expectations of $277.35 million. During the same quarter last year, the business earned $1.38 earnings per share. The business's revenue was up 19.3% on a year-over-year basis. Analysts predict that AppFolio, Inc. will post 5.16 earnings per share for the current year.

Hedge Funds Weigh In On AppFolio

Hedge funds and other institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its holdings in AppFolio by 101.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker's stock worth $26,000 after buying an additional 56 shares during the period. Optiver Holding B.V. raised its position in shares of AppFolio by 827.8% in the 1st quarter. Optiver Holding B.V. now owns 167 shares of the software maker's stock worth $26,000 after acquiring an additional 149 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of AppFolio by 48.8% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker's stock worth $53,000 after acquiring an additional 63 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of AppFolio in the 3rd quarter valued at approximately $55,000. Finally, Employees Retirement System of Texas purchased a new position in shares of AppFolio in the 3rd quarter valued at approximately $58,000. Hedge funds and other institutional investors own 85.19% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on APPF shares. KeyCorp reaffirmed an "overweight" rating on shares of AppFolio in a research note on Monday, July 6th. Zacks Research upgraded AppFolio from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 28th. Benchmark upped their price target on AppFolio from $222.00 to $226.00 and gave the company a "buy" rating in a research report on Friday, April 24th. Weiss Ratings upgraded AppFolio from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Finally, UBS Group set a $210.00 price objective on AppFolio in a research report on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, AppFolio currently has a consensus rating of "Buy" and an average target price of $243.50.

About AppFolio

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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