AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Sells $575,317.10 in Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 2,510 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $229.21, for a total transaction of $575,317.10. Following the completion of the transaction, the insider now directly owns 2,459 shares of the company’s stock, valued at $563,627.39. This represents a 50.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

AppFolio Stock Performance

Shares of APPF opened at $242.39 on Friday. AppFolio, Inc. has a fifty-two week low of $164.29 and a fifty-two week high of $274.56. The company’s fifty day moving average is $222.54 and its 200 day moving average is $231.07. The stock has a market capitalization of $8.81 billion, a PE ratio of 67.52 and a beta of 0.83.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.26. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The firm had revenue of $206.00 million for the quarter, compared to the consensus estimate of $199.11 million. During the same period in the previous year, the firm posted $0.26 EPS. The business’s quarterly revenue was up 24.5% on a year-over-year basis. As a group, research analysts forecast that AppFolio, Inc. will post 3.23 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on APPF. DA Davidson upped their price objective on AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. KeyCorp cut their price objective on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Piper Sandler lowered their target price on shares of AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Piper Sandler Companies reaffirmed an “overweight” rating and set a $300.00 target price on shares of AppFolio in a research note on Friday, July 26th. Finally, Keefe, Bruyette & Woods downgraded shares of AppFolio from a “market perform” rating to an “underperform” rating and reduced their price target for the company from $255.00 to $193.00 in a report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, AppFolio presently has a consensus rating of “Moderate Buy” and a consensus target price of $261.75.

Institutional Investors Weigh In On AppFolio

Several institutional investors have recently modified their holdings of APPF. Blue Trust Inc. raised its holdings in AppFolio by 85.7% during the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock valued at $29,000 after buying an additional 54 shares during the period. GAMMA Investing LLC increased its position 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 acquiring an additional 112 shares during the last quarter. CWM LLC raised its stake 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 acquiring an additional 105 shares during the period. Advisors Asset Management Inc. lifted its holdings in shares of AppFolio by 291.3% in the 1st quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock worth $44,000 after acquiring an additional 134 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of 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 during the period. 62.34% of the stock is owned by institutional investors.

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.