Agnes Bundy Scanlan, a director at AppFolio Inc (NASDAQ:APPF), recently sold 500 shares of the company’s Class A common stock. The transaction, which took place on December 2, 2024, was executed at a price of $255.42 per share, amounting to a total sale value of $127,710. Following this transaction, Scanlan holds 5,416 shares directly. The sale was disclosed in a filing with the Securities and Exchange Commission.
In other recent news, AppFolio has been in the spotlight due to its impressive financial performance and strategic moves. The company's revenue surged by 24% year-over-year to $206 million in the third quarter of 2024, with a notable expansion in non-GAAP operating margin to 28.7%. The company's full-year revenue guidance has been adjusted upwards to between $786 million and $790 million, reflecting an anticipated 27% growth rate.
Recently, AppFolio acquired LiveEasy, a move that has been viewed positively by Stephens, a financial services firm. Stephens maintained an Overweight rating on AppFolio, citing the company's potential for a strong fourth quarter in 2024 and achievable targets for 2025. The firm also highlighted AppFolio's significant margin improvement over the past two years, suggesting room for further expansion.
Stephens' confidence in AppFolio is further underscored by the firm's belief in the company's strong fundamentals and potential for further growth. The firm finds AppFolio's stock to be well-supported, trading at 7.3 times forward revenue, which is favorable compared to its vertical SaaS peers. These recent developments indicate a positive outlook for AppFolio, as the company continues to demonstrate robust growth and strategic acumen.
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