Matthew S. Mazza Sells 926 Shares of AppFolio, Inc. (NASDAQ:APPF) Stock

AppFolio, Inc. (NASDAQ:APPF) insider Matthew S. Mazza sold 926 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $229.04, for a total value of $212,091.04. Following the completion of the transaction, the insider now directly owns 33,819 shares in the company, valued at $7,745,903.76. This represents a 2.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

AppFolio Stock Performance

Shares of APPF opened at $230.02 on Friday. AppFolio, Inc. has a 52 week low of $164.29 and a 52 week high of $274.56. The stock has a 50 day moving average price of $221.86 and a two-hundred day moving average price of $231.12. The firm has a market capitalization of $8.36 billion, a P/E ratio of 64.07 and a beta of 0.83.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.26. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The business had revenue of $206.00 million for the quarter, compared to analysts’ expectations of $199.11 million. During the same period last year, the business earned $0.26 EPS. The business’s revenue was up 24.5% on a year-over-year basis. On average, equities analysts forecast that AppFolio, Inc. will post 3.23 earnings per share for the current year.

Analysts Set New Price Targets

APPF has been the topic of several recent analyst reports. KeyCorp dropped their price target on AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Keefe, Bruyette & Woods lowered shares of AppFolio from a “market perform” rating to an “underperform” rating and cut their target price for the stock from $255.00 to $193.00 in a research note on Tuesday, October 15th. StockNews.com downgraded shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Piper Sandler cut their price objective on shares of AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Finally, DA Davidson boosted their target price on AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, AppFolio currently has a consensus rating of “Moderate Buy” and an average target price of $261.75.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of AppFolio by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 2,152,626 shares of the software maker’s stock worth $531,139,000 after buying an additional 73,965 shares in the last quarter. State Street Corp lifted its holdings in AppFolio by 8.2% during the third quarter. State Street Corp now owns 653,136 shares of the software maker’s stock worth $153,748,000 after acquiring an additional 49,238 shares during the period. DF Dent & Co. Inc. lifted its holdings in AppFolio by 10.1% during the third quarter. DF Dent & Co. Inc. now owns 351,691 shares of the software maker’s stock worth $82,788,000 after acquiring an additional 32,181 shares during the period. Bank of New York Mellon Corp grew its stake in AppFolio by 13.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 241,801 shares of the software maker’s stock valued at $59,137,000 after purchasing an additional 28,673 shares during the period. Finally, Driehaus Capital Management LLC grew its stake in AppFolio by 16.7% in the 2nd quarter. Driehaus Capital Management LLC now owns 227,632 shares of the software maker’s stock valued at $55,672,000 after purchasing an additional 32,633 shares during the period. 62.34% of the stock is currently owned by hedge funds and other institutional investors.

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.