Evan Pickering Sells 141 Shares of AppFolio (NASDAQ:APPF) Stock

12 Aug 2026, 21:14 by Doug Wharley · The Cerbat Gem

AppFolio, Inc. (NASDAQ:APPF – Get Free Report) General Counsel Evan Pickering sold 141 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $202.01, for a total value of $28,483.41. Following the completion of the sale, the general counsel owned 5,489 shares of the company’s stock, valued at $1,108,832.89. This trade represents a 2.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Evan Pickering also recently made the following trade(s):

On Wednesday, August 12th, Evan Pickering sold 322 shares of AppFolio stock. The shares were sold at an average price of $200.06, for a total value of $64,419.32.
On Wednesday, August 5th, Evan Pickering sold 661 shares of AppFolio stock. The shares were sold at an average price of $200.49, for a total value of $132,523.89.
On Friday, June 12th, Evan Pickering sold 660 shares of AppFolio stock. The stock was sold at an average price of $155.25, for a total value of $102,465.00.

AppFolio Stock Performance

APPF stock traded down $6.25 during mid-day trading on Wednesday, hitting $196.77. 665,842 shares of the company were exchanged, compared to its average volume of 397,303. AppFolio, Inc. has a 1-year low of $142.56 and a 1-year high of $288.73. The firm’s 50 day simple moving average is $170.67 and its 200 day simple moving average is $170.78. The firm has a market cap of $6.97 billion, a P/E ratio of 44.92 and a beta of 0.78.

AppFolio (NASDAQ:APPF – Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The software maker reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.02. AppFolio had a net margin of 15.13% and a return on equity of 32.42%. The company had revenue of $281.12 million during the quarter, compared to analysts’ expectations of $277.35 million. During the same quarter in the prior year, the company earned $1.38 earnings per share. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. On average, equities research analysts predict that AppFolio, Inc. will post 5.16 EPS for the current fiscal year.

Key Stories Impacting AppFolio

Here are the key news stories impacting AppFolio this week:

Positive Sentiment: AppFolio’s latest quarterly results were modestly ahead of expectations, with earnings per share of $1.71 versus the $1.69 consensus estimate and revenue of $281.12 million versus $277.35 million. Revenue increased 19.3% year over year, supporting the company’s growth narrative.
Positive Sentiment: Analysts remain broadly constructive, with a consensus “Buy” rating and an average price target of $243.50, above recent trading levels. Benchmark raised its price objective to $226, while DA Davidson set a $225 target.
Neutral Sentiment: Major shareholder Maurice J. Duca sold several blocks totaling 15,900 shares on August 10–11 for approximately $3.57 million. The transactions were executed under a pre-arranged Rule 10b5-1 plan, which reduces their significance as a discretionary bearish signal. SEC filing on Maurice Duca’s AppFolio share sales
Neutral Sentiment: General Counsel Evan Pickering sold 463 shares, while insider Don Rigler sold 150 shares. These sales were also made under Rule 10b5-1 plans and were specifically intended to cover tax-withholding obligations tied to vested equity awards. SEC filing on AppFolio insider sales
Negative Sentiment: The scale and number of recent insider disposals may weigh on sentiment, particularly because Duca reduced several reported holdings by roughly 6.7% to 25.5%. Investors may interpret repeated selling as a near-term supply or confidence concern, despite the pre-arranged plans.
Negative Sentiment: Wall Street Zen downgraded APPF from “Buy” to “Hold,” and Piper Sandler previously cut its target to $210, highlighting valuation and execution concerns. AppFolio trades at a relatively high forward earnings multiple, leaving the stock sensitive to changes in growth expectations.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on APPF. Piper Sandler decreased their price objective on AppFolio from $245.00 to $210.00 and set an “overweight” rating for the company in a report on Friday, April 24th. Wall Street Zen downgraded shares of AppFolio from a “buy” rating to a “hold” rating in a research report on Sunday, July 26th. Zacks Research upgraded shares of AppFolio from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. Guggenheim started coverage on shares of AppFolio in a research note on Wednesday, July 22nd. They set a “buy” rating and a $232.00 price objective for the company. Finally, DA Davidson set a $225.00 price objective on AppFolio in a report on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $243.50.

View Our Latest Analysis on APPF

Hedge Funds Weigh In On AppFolio

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Woodline Partners LP grew its position in AppFolio by 2.9% in the 1st quarter. Woodline Partners LP now owns 1,754 shares of the software maker’s stock worth $386,000 after purchasing an additional 50 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of AppFolio by 101.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock worth $26,000 after buying an additional 56 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in shares of AppFolio by 4.8% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 1,263 shares of the software maker’s stock worth $348,000 after buying an additional 58 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of AppFolio by 48.8% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker’s stock valued at $53,000 after acquiring an additional 63 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC increased its position in shares of AppFolio by 1.3% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 5,162 shares of the software maker’s stock valued at $1,201,000 after acquiring an additional 64 shares during the last quarter. 85.19% of the stock is owned by institutional investors.

AppFolio Company Profile

(Get Free Report)

AppFolio, Inc is a Santa Barbara–based provider of cloud-based software solutions for the property management and legal industries. Founded in 2006 by former software executives, the company went public on the NASDAQ under the symbol APPF in 2015. Its original offering, AppFolio Property Manager, automates accounting, marketing, leasing, and maintenance functions for residential, commercial, student housing, and community association managers.