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 the 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 sale, the insider now directly owns 5,452 shares of the company’s stock, valued at approximately $1,308,916.16. This represents a 33.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

AppFolio Trading Up 3.6 %

NASDAQ:APPF traded up $8.67 on Monday, hitting $251.06. 180,229 shares of the company’s stock traded hands, compared to its average volume of 274,449. The company has a market cap of $9.12 billion, a PE ratio of 69.93 and a beta of 0.83. AppFolio, Inc. has a 1 year low of $164.29 and a 1 year high of $274.56. The firm has a 50-day moving average price of $223.34 and a 200-day moving average price of $230.86.

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

Analysts Set New Price Targets

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

Institutional Trading of AppFolio

Hedge funds and other institutional investors have recently modified their holdings of the company. Blue Trust Inc. lifted its stake in AppFolio by 85.7% in the third quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock valued at $29,000 after acquiring an additional 54 shares during the last quarter. GAMMA Investing LLC boosted its holdings in AppFolio by 589.5% in the second 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 second quarter. CWM LLC now owns 149 shares of the software maker’s stock worth $36,000 after buying an additional 105 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in AppFolio by 291.3% during the first 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. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of AppFolio by 688.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock worth $52,000 after buying an additional 186 shares during the last quarter. 62.34% of the stock is currently owned by hedge funds and other institutional investors.

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.