Insider Selling: AppFolio (NASDAQ:APPF) CEO Sells 3,012 Shares of Stock

Key Points

• CEO William Shane Trigg sold 3,012 shares of AppFolio stock for approximately $798,119.76, reducing his ownership by 4.52%.
• AppFolio posted a quarterly earnings per share (EPS) of $1.38, exceeding estimates, with revenues of $235.58 million—up 19.4% year-over-year.
• Analysts have upgraded AppFolio's ratings, with target prices ranging as high as $350.00 and a consensus rating of "Moderate Buy".

AppFolio, Inc. (NASDAQ:APPF - Get Free Report) CEO William Shane Trigg sold 3,012 shares of the company's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $264.98, for a total value of $798,119.76. Following the completion of the transaction, the chief executive officer directly owned 63,556 shares in the company, valued at approximately $16,841,068.88. This trade represents a 4.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

AppFolio Trading Up 2.0%

APPF traded up $5.35 on Friday, hitting $275.32. The company had a trading volume of 328,243 shares, compared to its average volume of 433,669. The company's fifty day moving average price is $255.51 and its 200 day moving average price is $230.14. AppFolio, Inc. has a 1 year low of $189.01 and a 1 year high of $326.04. The firm has a market cap of $9.87 billion, a P/E ratio of 49.70 and a beta of 0.95.

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

Institutional Investors Weigh In On AppFolio

Several institutional investors have recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in AppFolio in the fourth quarter valued at $103,503,000. William Blair Investment Management LLC lifted its stake in AppFolio by 73.6% during the second quarter. William Blair Investment Management LLC now owns 733,428 shares of the software maker's stock worth $168,894,000 after purchasing an additional 310,834 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in AppFolio by 121.2% in the first quarter. Principal Financial Group Inc. now owns 401,888 shares of the software maker's stock valued at $88,375,000 after purchasing an additional 220,239 shares in the last quarter. AQR Capital Management LLC increased its stake in AppFolio by 43.2% in the fourth quarter. AQR Capital Management LLC now owns 655,625 shares of the software maker's stock valued at $161,756,000 after purchasing an additional 197,700 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in AppFolio by 4,272.4% in 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 purchasing an additional 169,016 shares during the last quarter. 85.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on APPF shares. Keefe, Bruyette & Woods raised shares of AppFolio from an "underperform" rating to a "market perform" rating and increased their price target for the stock from $205.00 to $267.00 in a research report on Thursday, July 31st. Piper Sandler upgraded shares of AppFolio from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $240.00 to $350.00 in a report on Friday, August 1st. Finally, DA Davidson restated a "buy" rating and issued a $350.00 price target on shares of AppFolio in a research note on Friday, August 1st. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, AppFolio currently has an average rating of "Moderate Buy" and a consensus target price of $303.00.

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.