Insider Selling: AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Sells 2,700 Shares of Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 2,700 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $234.05, for a total transaction of $631,935.00. Following the sale, the insider now owns 14,716 shares of the company’s stock, valued at approximately $3,444,279.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

AppFolio Trading Up 0.8 %

Shares of NASDAQ:APPF opened at $233.79 on Monday. The firm has a 50 day moving average of $230.66 and a 200-day moving average of $233.21. The stock has a market capitalization of $8.47 billion, a PE ratio of 112.94 and a beta of 0.81. AppFolio, Inc. has a 12 month low of $164.29 and a 12 month high of $274.56.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, July 25th. The software maker reported $1.12 EPS for the quarter, beating the consensus estimate of $0.96 by $0.16. The company had revenue of $197.38 million during the quarter, compared to analysts’ expectations of $190.57 million. AppFolio had a net margin of 17.32% and a return on equity of 27.39%. The business’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.53) EPS. On average, research analysts predict that AppFolio, Inc. will post 3.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on APPF shares. JPMorgan Chase & Co. raised their target price on shares of AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. DA Davidson raised their target price on shares of AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Piper Sandler raised their target price on shares of AppFolio from $295.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. StockNews.com cut shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Finally, Piper Sandler Companies reiterated an “overweight” rating and issued a $300.00 price objective on shares of AppFolio in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, AppFolio currently has a consensus rating of “Moderate Buy” and an average target price of $277.75.

Hedge Funds Weigh In On AppFolio

Several hedge funds and other institutional investors have recently made changes to their positions in APPF. Norges Bank acquired a new position in shares of AppFolio in the 4th quarter valued at approximately $38,458,000. Zeno Equity Partners LLP bought a new stake in shares of AppFolio during the 4th quarter valued at approximately $33,434,000. Principal Financial Group Inc. grew its holdings in shares of AppFolio by 2,359.8% during the 1st quarter. Principal Financial Group Inc. now owns 151,646 shares of the software maker’s stock valued at $37,417,000 after purchasing an additional 145,481 shares during the last quarter. Squarepoint Ops LLC grew its holdings in shares of AppFolio by 188.2% during the 2nd quarter. Squarepoint Ops LLC now owns 185,034 shares of the software maker’s stock valued at $45,254,000 after purchasing an additional 120,835 shares during the last quarter. Finally, Westwind Capital grew its holdings in shares of AppFolio by 301.0% during the 2nd quarter. Westwind Capital now owns 149,240 shares of the software maker’s stock valued at $3,650,000 after purchasing an additional 112,024 shares during the last quarter. 62.34% of the stock is currently owned by institutional investors and hedge funds.

About AppFolio

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.