Maurice J. Duca Sells 60 Shares of AppFolio, Inc. (NASDAQ:APPF) Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 60 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $254.48, for a total value of $15,268.80. Following the transaction, the insider now owns 5 shares of the company’s stock, valued at $1,272.40. This trade represents a 92.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

AppFolio Stock Performance

APPF stock opened at $254.82 on Friday. The business has a 50-day simple moving average of $224.38 and a two-hundred day simple moving average of $231.08. The company has a market capitalization of $9.26 billion, a P/E ratio of 70.98 and a beta of 0.83. AppFolio, Inc. has a 52-week low of $164.29 and a 52-week high of $274.56.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $199.11 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. AppFolio’s revenue was up 24.5% compared to the same quarter last year. As a group, sell-side analysts forecast that AppFolio, Inc. will post 3.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AppFolio

Several large investors have recently made changes to their positions in the business. Blue Trust Inc. boosted its holdings in shares of AppFolio by 85.7% in the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock worth $29,000 after buying an additional 54 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of AppFolio by 589.5% in the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after acquiring an additional 112 shares during the period. CWM LLC grew its position in shares of AppFolio by 238.6% in the second quarter. CWM LLC now owns 149 shares of the software maker’s stock valued at $36,000 after purchasing an additional 105 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of AppFolio by 291.3% during the 1st quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock valued at $44,000 after purchasing an additional 134 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in AppFolio by 688.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock worth $52,000 after purchasing an additional 186 shares in the last quarter. 62.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on APPF. KeyCorp dropped their target price on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Keefe, Bruyette & Woods cut AppFolio from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $255.00 to $193.00 in a research note on Tuesday, October 15th. Piper Sandler dropped their price target on AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Finally, StockNews.com downgraded shares of AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $261.75.

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.