AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Maurice J. Duca Sells 1,059 Shares

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 1,059 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $229.10, for a total value of $242,616.90. Following the transaction, the insider now directly owns 9,388 shares in the company, valued at $2,150,790.80. This trade represents a 10.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

AppFolio Trading Up 2.5 %

Shares of NASDAQ APPF opened at $236.47 on Friday. AppFolio, Inc. has a 12 month low of $164.29 and a 12 month high of $274.56. The stock has a 50 day moving average of $222.54 and a 200-day moving average of $231.07. The company has a market capitalization of $8.59 billion, a P/E ratio of 65.87 and a beta of 0.83.

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

Analyst Ratings Changes

APPF has been the subject of several research reports. Keefe, Bruyette & Woods cut AppFolio from a “market perform” rating to an “underperform” rating and decreased their target price for the company from $255.00 to $193.00 in a research note on Tuesday, October 15th. StockNews.com downgraded AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd. Piper Sandler Companies reissued an “overweight” rating and issued a $300.00 price target on shares of AppFolio in a research note on Friday, July 26th. DA Davidson upped 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. Finally, KeyCorp reduced their price objective on AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $261.75.

Hedge Funds Weigh In On AppFolio

Institutional investors and hedge funds have recently bought and sold shares of the company. Blue Trust Inc. grew its position in shares of AppFolio by 85.7% in 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 last quarter. GAMMA Investing LLC boosted its position in shares of AppFolio by 589.5% during the 2nd quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock valued at $32,000 after purchasing an additional 112 shares in the last quarter. CWM LLC boosted its holdings in AppFolio by 238.6% in the second quarter. CWM LLC now owns 149 shares of the software maker’s stock worth $36,000 after acquiring an additional 105 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in AppFolio by 291.3% in the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock worth $44,000 after acquiring an additional 134 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in AppFolio by 688.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock worth $52,000 after acquiring an additional 186 shares in the last quarter. Institutional investors and hedge funds own 62.34% of the company’s stock.

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.