AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Sells $221,470.32 in Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 876 shares of AppFolio stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $252.82, for a total value of $221,470.32. Following the sale, the insider now directly owns 7,100 shares of the company’s stock, valued at approximately $1,795,022. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

AppFolio Stock Performance

AppFolio stock traded down $0.03 during trading on Monday, reaching $252.55. The company had a trading volume of 175,954 shares, compared to its average volume of 300,895. The firm has a market capitalization of $9.14 billion, a PE ratio of 122.01 and a beta of 0.80. The firm’s 50-day simple moving average is $238.22 and its 200 day simple moving average is $223.07. AppFolio, Inc. has a 1-year low of $164.29 and a 1-year high of $256.73.

AppFolio (NASDAQ:APPF) last announced its earnings results on Thursday, April 25th. The software maker reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.09. The business had revenue of $187.43 million for the quarter, compared to analyst estimates of $173.66 million. AppFolio had a net margin of 11.38% and a return on equity of 13.51%. Analysts anticipate that AppFolio, Inc. will post 2.85 EPS for the current year.

Institutional Investors Weigh In On AppFolio

Several large investors have recently bought and sold shares of APPF. Lido Advisors LLC acquired a new stake in shares of AppFolio in the third quarter valued at about $344,000. GSA Capital Partners LLP raised its holdings in AppFolio by 178.0% in the 3rd quarter. GSA Capital Partners LLP now owns 5,251 shares of the software maker’s stock valued at $959,000 after acquiring an additional 3,362 shares during the last quarter. First Foundation Advisors purchased a new position in AppFolio in the 3rd quarter worth approximately $209,000. Graham Capital Management L.P. purchased a new stake in shares of AppFolio in the third quarter valued at approximately $2,027,000. Finally, Vanguard Group Inc. boosted its position in shares of AppFolio by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 2,001,727 shares of the software maker’s stock valued at $365,575,000 after acquiring an additional 46,827 shares during the last quarter. 62.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Stephens restated an “overweight” rating and set a $241.00 price objective on shares of AppFolio in a research note on Friday, April 26th. Piper Sandler started coverage on shares of AppFolio in a research report on Monday, June 10th. They set an “overweight” rating and a $295.00 target price for the company. Keefe, Bruyette & Woods raised their target price on AppFolio from $215.00 to $238.00 and gave the stock a “market perform” rating in a report on Friday, April 26th. Finally, KeyCorp upped their price objective on AppFolio from $264.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $248.71.

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.