Rep. Byron Donalds Sells Off Shares of AppFolio, Inc. (NASDAQ:APPF)

Representative Byron Donalds (R-Florida) recently sold shares of AppFolio, Inc. (NASDAQ:APPF). In a filing disclosed on November 07th, the Representative disclosed that they had sold between $1,001 and $15,000 in AppFolio stock on October 1st. The trade occurred in the Representative’s “MORAN WEALTH IRA” account.

Representative Byron Donalds also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of McKesson (NYSE:MCK) on 10/1/2024.
• Purchased $1,001 – $15,000 in shares of NU (NYSE:NU) on 10/1/2024.
• Sold $1,001 – $15,000 in shares of Synopsys (NASDAQ:SNPS) on 10/1/2024.

AppFolio Price Performance

APPF stock opened at $228.20 on Friday. The stock has a market capitalization of $8.29 billion, a price-to-earnings ratio of 63.57 and a beta of 0.83. The business has a fifty day moving average price of $221.31 and a 200 day moving average price of $230.89. AppFolio, Inc. has a fifty-two week low of $164.29 and a fifty-two week high of $274.56.

AppFolio (NASDAQ:APPF) last announced its earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.26. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The company had revenue of $206.00 million for the quarter, compared to analyst estimates of $199.11 million. During the same period in the prior year, the business earned $0.26 earnings per share. AppFolio’s quarterly revenue was up 24.5% on a year-over-year basis. On average, equities analysts expect that AppFolio, Inc. will post 3.2 earnings per share for the current fiscal year.

Institutional Trading of AppFolio

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake 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 purchasing an additional 73,965 shares during the last quarter. Bank of New York Mellon Corp raised 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 acquiring an additional 28,673 shares during the period. Driehaus Capital Management LLC lifted its holdings in AppFolio by 16.7% during 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 last quarter. Squarepoint Ops LLC boosted its position in AppFolio by 188.2% during the second quarter. Squarepoint Ops LLC now owns 185,034 shares of the software maker’s stock worth $45,254,000 after purchasing an additional 120,835 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in shares of AppFolio by 16.1% in the third quarter. Principal Financial Group Inc. now owns 177,831 shares of the software maker’s stock valued at $41,861,000 after purchasing an additional 24,697 shares during the last quarter. Institutional investors own 62.34% of the company’s stock.

Insider Activity

In related news, CEO William Shane Trigg sold 3,501 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $218.98, for a total value of $766,648.98. Following the transaction, the chief executive officer now owns 81,699 shares in the company, valued at approximately $17,890,447.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO William Shane Trigg sold 3,501 shares of AppFolio stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $218.98, for a total transaction of $766,648.98. Following the completion of the sale, the chief executive officer now directly owns 81,699 shares of the company’s stock, valued at approximately $17,890,447.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Maurice J. Duca sold 200 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $232.18, for a total transaction of $46,436.00. Following the completion of the transaction, the insider now owns 18,922 shares in the company, valued at $4,393,309.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,652 shares of company stock valued at $4,053,818 over the last ninety days. 5.24% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. StockNews.com lowered shares of AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd. Piper Sandler decreased their target price on AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. JPMorgan Chase & Co. raised their price target on AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. 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. Finally, DA Davidson increased their target price on AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $261.75.

About Representative Donalds

Byron Donalds (Republican Party) is a member of the U.S. House, representing Florida’s 19th Congressional District. He assumed office on January 3, 2021. His current term ends on January 3, 2025. Donalds (Republican Party) is running for re-election to the U.S. House to represent Florida’s 19th Congressional District. He declared candidacy for the Republican primary scheduled on August 20, 2024. Donalds was a potential 2014 Republican candidate seeking election to the U.S. House to represent the 19th Congressional District of Florida. Donalds filed campaign finance reports with the Federal Election Commission but failed to file a statement of candidacy with the FEC or Florida Division of Elections. He was a 2012 Republican candidate who sought election to the U.S. House to represent the 19th Congressional District of Florida. Donalds was defeated by Trey Radel in the Republican primary on August 14, 2012. Byron Donalds was born in Brooklyn, New York, and lives in Naples, Florida. Donalds earned a bachelor’s degree in finance and marketing from Florida State University in 2002. His career experience includes working as a commercial credit officer in banking and as a portfolio manager in financial services.

AppFolio Company Profile

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.