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

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 transaction of $242,616.90. Following the sale, the insider now owns 9,388 shares in the company, valued at $2,150,790.80. The trade was a 10.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

AppFolio Stock Up 2.5 %

Shares of AppFolio stock opened at $236.47 on Friday. AppFolio, Inc. has a 52-week low of $164.29 and a 52-week high of $274.56. The company 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 announced its earnings results on Thursday, October 24th. The software maker reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.26. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The business had revenue of $206.00 million for the quarter, compared to analysts’ expectations of $199.11 million. During the same period in the previous year, the company posted $0.26 EPS. The company’s quarterly revenue was up 24.5% on a year-over-year basis. As a group, research analysts anticipate that AppFolio, Inc. will post 3.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

APPF has been the subject of a number of recent research reports. Piper Sandler Companies reissued an “overweight” rating and issued a $300.00 price objective on shares of AppFolio in a research note on Friday, July 26th. StockNews.com lowered shares of AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd. DA Davidson boosted their price objective on shares of AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Piper Sandler reduced their price objective on shares of AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Finally, KeyCorp cut their price target on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $261.75.

Institutional Investors Weigh In On AppFolio

Institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. boosted 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 worth $29,000 after buying an additional 54 shares in the last quarter. GAMMA Investing LLC increased its position in AppFolio by 589.5% during the 2nd quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after purchasing an additional 112 shares in the last quarter. CWM LLC increased its position in AppFolio by 238.6% during the 2nd quarter. CWM LLC now owns 149 shares of the software maker’s stock worth $36,000 after purchasing an additional 105 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in AppFolio by 291.3% in 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 period. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in AppFolio by 688.9% in the 2nd 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 during the period. 62.34% of the stock is currently owned by hedge funds and other institutional investors.

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.