AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Sells $485,520.00 in Stock

AppFolio, Inc. (NASDAQ:APPFGet Free Report) major shareholder Maurice J. Duca sold 2,100 shares of AppFolio stock in a transaction on Friday, June 14th. The stock was sold at an average price of $231.20, for a total transaction of $485,520.00. Following the transaction, the insider now directly owns 55,000 shares of the company’s stock, valued at approximately $12,716,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

AppFolio Trading Up 0.0 %

Shares of APPF stock opened at $231.87 on Friday. AppFolio, Inc. has a 12 month low of $162.32 and a 12 month high of $256.73. The firm has a market capitalization of $8.40 billion, a PE ratio of 112.02 and a beta of 0.80. The firm has a fifty day simple moving average of $232.33 and a two-hundred day simple moving average of $217.34.

AppFolio (NASDAQ:APPFGet Free Report) last posted its earnings results on Thursday, April 25th. The software maker reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.09. AppFolio had a net margin of 11.38% and a return on equity of 13.51%. The company had revenue of $187.43 million for the quarter, compared to analyst estimates of $173.66 million. On average, equities analysts predict that AppFolio, Inc. will post 2.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Norges Bank bought a new stake in AppFolio during the fourth quarter worth $38,458,000. Zeno Equity Partners LLP bought a new stake in shares of AppFolio in the 4th quarter worth $33,434,000. Principal Financial Group Inc. raised its holdings in shares of AppFolio by 2,359.8% in the first 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. Assenagon Asset Management S.A. lifted its position in shares of AppFolio by 344.7% during the first quarter. Assenagon Asset Management S.A. now owns 155,127 shares of the software maker’s stock valued at $38,276,000 after purchasing an additional 120,246 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new position in AppFolio during the fourth quarter worth about $18,636,000. Institutional investors own 62.34% of the company’s stock.

Analyst Upgrades and Downgrades

APPF has been the subject of a number of research analyst reports. Stephens reiterated an “overweight” rating and issued a $241.00 target price on shares of AppFolio in a report on Friday, April 26th. KeyCorp boosted their target price on shares of AppFolio from $264.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Keefe, Bruyette & Woods raised their price target on shares of AppFolio from $215.00 to $238.00 and gave the stock a “market perform” rating in a report on Friday, April 26th. Finally, Piper Sandler started coverage on shares of AppFolio in a research note on Monday, June 10th. They issued an “overweight” rating and a $295.00 price target for the company. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $248.71.

Read Our Latest Research Report on AppFolio

AppFolio Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for AppFolio (NASDAQ:APPF)

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