AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Maurice J. Duca Sells 4,462 Shares

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 4,462 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $261.19, for a total transaction of $1,165,429.78. Following the transaction, the insider now directly owns 49,784 shares of the company’s stock, valued at approximately $13,003,082.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

AppFolio Trading Down 10.9 %

NASDAQ:APPF opened at $230.95 on Friday. AppFolio, Inc. has a 12 month low of $164.29 and a 12 month high of $274.56. The company has a market cap of $8.36 billion, a PE ratio of 111.57 and a beta of 0.80. The company has a 50 day simple moving average of $242.53 and a two-hundred day simple moving average of $231.18.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, July 25th. The software maker reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.16. AppFolio had a net margin of 17.32% and a return on equity of 29.03%. The business had revenue of $197.38 million during the quarter, compared to the consensus estimate of $190.57 million. During the same quarter in the previous year, the firm posted ($0.53) EPS. The firm’s revenue was up 34.2% on a year-over-year basis. Research analysts forecast that AppFolio, Inc. will post 2.85 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of AppFolio by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 2,152,626 shares of the software maker’s stock worth $531,139,000 after acquiring an additional 73,965 shares during the last quarter. Gilder Gagnon Howe & Co. LLC boosted its stake in shares of AppFolio by 3.8% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 421,309 shares of the software maker’s stock worth $72,988,000 after acquiring an additional 15,283 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of AppFolio by 13.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 241,801 shares of the software maker’s stock worth $59,137,000 after acquiring an additional 28,673 shares during the last quarter. Norges Bank purchased a new position in shares of AppFolio during the 4th quarter worth $38,458,000. Finally, Zeno Equity Partners LLP boosted its stake in shares of AppFolio by 6.6% during the 1st quarter. Zeno Equity Partners LLP now owns 205,781 shares of the software maker’s stock worth $50,774,000 after acquiring an additional 12,786 shares during the last quarter. Hedge funds and other institutional investors own 62.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of AppFolio from $260.00 to $328.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods raised their price target on shares of AppFolio from $215.00 to $238.00 and gave the company a “market perform” rating in a research report on Friday, April 26th. Stephens reissued an “overweight” rating and set a $241.00 price target on shares of AppFolio in a research report on Friday, April 26th. Piper Sandler Companies reissued an “overweight” rating and set a $300.00 price target on shares of AppFolio in a research report on Friday. Finally, Piper Sandler raised their price target on shares of AppFolio from $295.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, AppFolio presently has a consensus rating of “Moderate Buy” and a consensus target price of $277.75.

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.