Insider Selling: AppFolio, Inc. (NASDAQ:APPF) Director Sells 2,500 Shares of Stock

AppFolio, Inc. (NASDAQ:APPF) Director Janet Kerr sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $232.33, for a total value of $580,825.00. Following the completion of the sale, the director now directly owns 13,180 shares of the company’s stock, valued at $3,062,109.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

AppFolio Stock Performance

AppFolio stock opened at $231.76 on Wednesday. The stock has a fifty day moving average of $232.05 and a two-hundred day moving average of $217.14. The company has a market capitalization of $8.39 billion, a price-to-earnings ratio of 111.96 and a beta of 0.80. AppFolio, Inc. has a fifty-two week low of $162.32 and a fifty-two week high of $256.73.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, April 25th. The software maker reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.09. The company had revenue of $187.43 million during the quarter, compared to the consensus estimate of $173.66 million. AppFolio had a return on equity of 13.51% and a net margin of 11.38%. On average, analysts forecast that AppFolio, Inc. will post 2.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on APPF shares. Stephens reaffirmed an “overweight” rating and issued a $241.00 price objective on shares of AppFolio in a research note on Friday, April 26th. KeyCorp raised their price objective on AppFolio from $264.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Piper Sandler started coverage on AppFolio in a research note on Monday, June 10th. They issued an “overweight” rating and a $295.00 price objective for the company. Finally, Keefe, Bruyette & Woods raised their price objective on AppFolio from $215.00 to $238.00 and gave the company a “market perform” rating in a research note on Friday, April 26th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $248.71.

Institutional Investors Weigh In On AppFolio

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Verdence Capital Advisors LLC boosted its holdings in AppFolio by 2.7% in the fourth quarter. Verdence Capital Advisors LLC now owns 2,114 shares of the software maker’s stock valued at $366,000 after acquiring an additional 55 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in AppFolio by 3.2% in the fourth quarter. Harbor Capital Advisors Inc. now owns 3,691 shares of the software maker’s stock valued at $639,000 after acquiring an additional 116 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in AppFolio by 291.3% in the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock valued at $44,000 after acquiring an additional 134 shares during the last quarter. Zeno Equity Partners LLP acquired a new position in AppFolio in the fourth quarter valued at $30,000. Finally, Capstone Investment Advisors LLC boosted its holdings in AppFolio by 5.2% in the fourth quarter. Capstone Investment Advisors LLC now owns 5,158 shares of the software maker’s stock valued at $894,000 after acquiring an additional 257 shares during the last quarter. Hedge funds and other institutional investors own 62.34% 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.