AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Sells $434,177.82 in Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 1,842 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $235.71, for a total value of $434,177.82. Following the sale, the insider now directly owns 12,874 shares in the company, valued at $3,034,530.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

AppFolio Trading Down 0.8 %

Shares of NASDAQ:APPF opened at $234.54 on Friday. The business has a fifty day simple moving average of $227.94 and a 200 day simple moving average of $233.41. AppFolio, Inc. has a 1 year low of $164.29 and a 1 year high of $274.56. The firm has a market cap of $8.49 billion, a price-to-earnings ratio of 113.30 and a beta of 0.81.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Thursday, July 25th. The software maker reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.16. The firm had revenue of $197.38 million for the quarter, compared to the consensus estimate of $190.57 million. AppFolio had a return on equity of 27.39% and a net margin of 17.32%. The firm’s revenue was up 34.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.53) earnings per share. On average, sell-side analysts forecast that AppFolio, Inc. will post 3.04 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC grew its holdings in AppFolio by 589.5% during the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock valued at $32,000 after purchasing an additional 112 shares during the last quarter. CWM LLC boosted its holdings in shares of AppFolio by 238.6% during the 2nd quarter. CWM LLC now owns 149 shares of the software maker’s stock worth $36,000 after buying an additional 105 shares during the period. Advisors Asset Management Inc. grew its stake in AppFolio by 291.3% in the 1st quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock valued at $44,000 after buying an additional 134 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in AppFolio by 688.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock worth $52,000 after acquiring an additional 186 shares during the period. Finally, Quarry LP lifted its position in AppFolio by 147.9% during the 2nd quarter. Quarry LP now owns 238 shares of the software maker’s stock worth $58,000 after acquiring an additional 142 shares during the last quarter. 62.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. DA Davidson upped their price objective on shares of AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Piper Sandler Companies restated an “overweight” rating and issued a $300.00 price target on shares of AppFolio in a research report on Friday, July 26th. Piper Sandler lifted their price objective on shares of AppFolio from $295.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. KeyCorp increased their target price on AppFolio from $275.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. lifted their price target on AppFolio from $260.00 to $328.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $277.75.

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.