AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Sells $597,090.00 in Stock

AppFolio, Inc. (NASDAQ:APPFGet Free Report) major shareholder Maurice J. Duca sold 2,600 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $229.65, for a total value of $597,090.00. Following the completion of the sale, the insider now directly owns 52,400 shares of the company’s stock, valued at approximately $12,033,660. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

AppFolio Stock Performance

APPF stock opened at $231.87 on Friday. AppFolio, Inc. has a fifty-two week low of $162.32 and a fifty-two week high of $256.73. The company has a market capitalization of $8.40 billion, a price-to-earnings ratio of 112.02 and a beta of 0.80. The business’s 50 day moving average price is $232.33 and its two-hundred day moving average price is $217.34.

AppFolio (NASDAQ:APPFGet Free Report) last posted its quarterly earnings data on Thursday, April 25th. The software maker reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.09. AppFolio had a return on equity of 13.51% and a net margin of 11.38%. The business had revenue of $187.43 million during the quarter, compared to the consensus estimate of $173.66 million. Sell-side analysts forecast that AppFolio, Inc. will post 2.85 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of APPF. Zeno Equity Partners LLP bought a new position in shares of AppFolio during the fourth quarter valued at approximately $30,000. Advisors Asset Management Inc. increased its position in 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. USA Financial Formulas purchased a new position in AppFolio during the fourth quarter valued at $59,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in AppFolio in the fourth quarter worth $64,000. Finally, Headlands Technologies LLC purchased a new stake in shares of AppFolio in the fourth quarter worth $85,000. 62.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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AppFolio Company Profile

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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.

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