AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Maurice J. Duca Sells 2,510 Shares

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 2,510 shares of AppFolio stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $229.21, for a total value of $575,317.10. Following the completion of the sale, the insider now directly owns 2,459 shares of the company’s stock, valued at approximately $563,627.39. This trade represents a 50.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

AppFolio Stock Up 0.9 %

AppFolio stock opened at $230.65 on Thursday. The stock has a market cap of $8.38 billion, a price-to-earnings ratio of 64.25 and a beta of 0.83. The business has a 50-day simple moving average of $222.29 and a 200 day simple moving average of $231.03. AppFolio, Inc. has a 52 week low of $164.29 and a 52 week high of $274.56.

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

Analyst Upgrades and Downgrades

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

Institutional Trading of AppFolio

A number of hedge funds have recently made changes to their positions in APPF. Blue Trust Inc. increased its stake in AppFolio by 85.7% in the third quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock valued at $29,000 after acquiring an additional 54 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of AppFolio by 589.5% in the 2nd quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after purchasing an additional 112 shares in the last quarter. CWM LLC increased its position in shares of AppFolio by 238.6% during the 2nd quarter. CWM LLC now owns 149 shares of the software maker’s stock valued at $36,000 after purchasing an additional 105 shares during the last quarter. Advisors Asset Management Inc. raised its holdings 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 buying an additional 134 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings 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 valued at $52,000 after buying an additional 186 shares in the last quarter. 62.34% of the stock is owned by institutional investors.

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.