Insider Selling: AppFolio, Inc. (NASDAQ:APPF) Insider Sells $1,202,461.60 in Stock

AppFolio, Inc. (NASDAQ:APPF) insider Matthew S. Mazza sold 5,090 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $236.24, for a total transaction of $1,202,461.60. Following the sale, the insider now directly owns 28,266 shares of the company’s stock, valued at $6,677,559.84. The trade was a 15.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

AppFolio Trading Down 1.4 %

APPF opened at $230.02 on Monday. The firm has a 50 day moving average of $221.86 and a two-hundred day moving average of $231.16. The firm has a market capitalization of $8.36 billion, a PE ratio of 64.07 and a beta of 0.83. AppFolio, Inc. has a 12-month low of $164.29 and a 12-month high of $274.56.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 EPS for the quarter, beating the consensus estimate of $1.03 by $0.26. The company had revenue of $206.00 million for the quarter, compared to analyst estimates of $199.11 million. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The firm’s revenue was up 24.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.26 earnings per share. As a group, analysts predict that AppFolio, Inc. will post 3.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on APPF shares. Piper Sandler Companies reiterated an “overweight” rating and set a $300.00 price objective on shares of AppFolio in a report on Friday, July 26th. Keefe, Bruyette & Woods downgraded AppFolio from a “market perform” rating to an “underperform” rating and lowered their price target for the stock from $255.00 to $193.00 in a report on Tuesday, October 15th. KeyCorp cut their price objective on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. StockNews.com lowered shares of AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Finally, DA Davidson boosted their target price on shares of AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, AppFolio presently has an average rating of “Moderate Buy” and an average target price of $261.75.

Institutional Investors Weigh In On AppFolio

Several hedge funds have recently bought and sold shares of APPF. Janney Montgomery Scott LLC purchased a new stake in AppFolio during the first quarter worth $839,000. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of AppFolio during the 1st quarter worth about $307,000. SG Americas Securities LLC grew its position in shares of AppFolio by 29.7% during the 1st quarter. SG Americas Securities LLC now owns 1,498 shares of the software maker’s stock valued at $370,000 after acquiring an additional 343 shares during the period. Swiss National Bank increased its stake in shares of AppFolio by 3.5% in the 1st quarter. Swiss National Bank now owns 38,400 shares of the software maker’s stock valued at $9,475,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in AppFolio by 359.1% in the 1st quarter. Sei Investments Co. now owns 38,038 shares of the software maker’s stock worth $9,385,000 after purchasing an additional 29,752 shares during the period. 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.