AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Maurice J. Duca Sells 60 Shares

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 60 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $254.48, for a total value of $15,268.80. Following the completion of the transaction, the insider now owns 5 shares of the company’s stock, valued at $1,272.40. This trade represents a 92.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

AppFolio Trading Down 0.2 %

Shares of NASDAQ:APPF opened at $254.82 on Thursday. The company has a 50 day moving average of $223.87 and a 200 day moving average of $230.91. The stock has a market cap of $9.26 billion, a P/E ratio of 70.98 and a beta of 0.83. AppFolio, Inc. has a 12 month low of $164.29 and a 12 month high of $274.56.

AppFolio (NASDAQ:APPF) last released its quarterly 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 firm had revenue of $206.00 million during the quarter, compared to analyst estimates of $199.11 million. During the same period in the previous year, the business earned $0.26 EPS. The business’s revenue for the quarter was up 24.5% on a year-over-year basis. On average, equities analysts forecast that AppFolio, Inc. will post 3.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Hedge Funds Weigh In On AppFolio

A number of institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC raised its holdings in shares of AppFolio by 2.9% in the 3rd quarter. Tidal Investments LLC now owns 1,425 shares of the software maker’s stock valued at $335,000 after acquiring an additional 40 shares in the last quarter. Brighton Jones LLC increased its position in shares of AppFolio by 0.9% in the second quarter. Brighton Jones LLC now owns 5,805 shares of the software maker’s stock worth $1,420,000 after purchasing an additional 49 shares during the last quarter. Blue Trust Inc. raised 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 purchasing an additional 54 shares in the last quarter. Northwest & Ethical Investments L.P. lifted its position in AppFolio by 16.0% during the third quarter. Northwest & Ethical Investments L.P. now owns 725 shares of the software maker’s stock valued at $171,000 after purchasing an additional 100 shares during the last quarter. Finally, ProShare Advisors LLC grew its stake in AppFolio by 2.9% in the 2nd quarter. ProShare Advisors LLC now owns 3,630 shares of the software maker’s stock worth $888,000 after buying an additional 102 shares in the last quarter. 62.34% of the stock is currently owned by 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.