AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Maurice J. Duca Sells 2,701 Shares

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 2,701 shares of AppFolio stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $240.08, for a total transaction of $648,456.08. Following the completion of the transaction, the insider now directly owns 5,452 shares in the company, valued at approximately $1,308,916.16. This represents a 33.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 3.6 %

APPF stock traded up $8.67 during trading on Monday, reaching $251.06. 180,229 shares of the stock were exchanged, compared to its average volume of 274,449. The stock has a 50 day simple moving average of $223.34 and a 200-day simple moving average of $230.86. The company has a market capitalization of $9.12 billion, a P/E ratio of 69.93 and a beta of 0.83. AppFolio, Inc. has a twelve month low of $164.29 and a twelve month high of $274.56.

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

Analyst Ratings Changes

Several research analysts recently commented on the stock. KeyCorp dropped their target price on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. StockNews.com lowered AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Piper Sandler decreased their target price on AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Finally, Keefe, Bruyette & Woods lowered AppFolio from a “market perform” rating to an “underperform” rating and lowered their target price for the company from $255.00 to $193.00 in a report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, AppFolio presently has a consensus rating of “Moderate Buy” and an average price target of $261.75.

Hedge Funds Weigh In On AppFolio

Hedge funds have recently made changes to their positions in the business. Axxcess Wealth Management LLC acquired a new stake in shares of AppFolio during the first quarter worth approximately $207,000. Advisors Asset Management Inc. grew its holdings in AppFolio by 291.3% during 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. Lazard Asset Management LLC increased its position in AppFolio by 750.5% in the 1st quarter. Lazard Asset Management LLC now owns 9,211 shares of the software maker’s stock valued at $2,271,000 after acquiring an additional 8,128 shares in the last quarter. Caxton Associates LP bought a new position in shares of AppFolio in the first quarter worth about $290,000. Finally, Comerica Bank grew its stake in shares of AppFolio by 129.9% during the first quarter. Comerica Bank now owns 13,683 shares of the software maker’s stock valued at $3,376,000 after purchasing an additional 7,732 shares during 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.