AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Maurice J. Duca Sells 5,200 Shares

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 5,200 shares of AppFolio stock in a transaction on Friday, June 28th. The stock was sold at an average price of $244.93, for a total value of $1,273,636.00. Following the transaction, the insider now directly owns 20,491 shares of the company’s stock, valued at approximately $5,018,860.63. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

AppFolio Trading Up 1.1 %

Shares of APPF stock opened at $249.97 on Friday. The firm has a 50-day moving average price of $237.73 and a 200 day moving average price of $221.37. AppFolio, Inc. has a twelve month low of $164.29 and a twelve month high of $256.73. The company has a market capitalization of $9.05 billion, a price-to-earnings ratio of 120.76 and a beta of 0.80.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings data on Thursday, April 25th. The software maker reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.09. AppFolio had a net margin of 11.38% and a return on equity of 13.51%. The company had revenue of $187.43 million during the quarter, compared to the consensus estimate of $173.66 million. As a group, research analysts predict that AppFolio, Inc. will post 2.85 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings 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 valued at $531,139,000 after acquiring an additional 73,965 shares during the last quarter. Gilder Gagnon Howe & Co. LLC increased its stake in shares of AppFolio by 3.8% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 421,309 shares of the software maker’s stock valued at $72,988,000 after acquiring an additional 15,283 shares during the last quarter. Norges Bank acquired a new position in shares of AppFolio during the 4th quarter valued at about $38,458,000. Zeno Equity Partners LLP increased its stake in shares of AppFolio by 6.6% during the 1st quarter. Zeno Equity Partners LLP now owns 205,781 shares of the software maker’s stock valued at $50,774,000 after acquiring an additional 12,786 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of AppFolio by 1.1% during the 3rd quarter. Northern Trust Corp now owns 202,348 shares of the software maker’s stock valued at $36,955,000 after acquiring an additional 2,224 shares during the last quarter. Institutional investors and hedge funds own 62.34% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. KeyCorp lifted their price target on AppFolio from $264.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Stephens reaffirmed an “overweight” rating and set a $241.00 price target on shares of AppFolio in a research note on Friday, April 26th. Piper Sandler assumed coverage on shares of AppFolio in a research note on Monday, June 10th. They issued an “overweight” rating and a $295.00 target price for the company. Finally, Keefe, Bruyette & Woods boosted their target price on shares of AppFolio from $215.00 to $238.00 and gave the company a “market perform” rating in a research note on Friday, April 26th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, AppFolio has an average rating of “Moderate Buy” and a consensus target price of $248.71.

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.