Insider Selling: AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Sells $646,182.75 in Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 2,577 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $250.75, for a total value of $646,182.75. Following the transaction, the insider now directly owns 2,875 shares in the company, valued at $720,906.25. This trade represents a 47.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

AppFolio Stock Down 0.2 %

Shares of NASDAQ APPF opened at $254.82 on Thursday. AppFolio, Inc. has a twelve month low of $164.29 and a twelve month high of $274.56. The firm has a market cap of $9.26 billion, a P/E ratio of 70.52 and a beta of 0.83. The company has a 50 day moving average of $223.87 and a 200 day moving average of $230.91.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, October 24th. The software maker reported $1.29 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $199.11 million. During the same quarter in the previous year, the firm posted $0.26 EPS. The firm’s revenue was up 24.5% on a year-over-year basis. As a group, equities analysts expect that AppFolio, Inc. will post 3.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AppFolio

Large investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC grew its position in AppFolio by 750.5% in the 1st quarter. Lazard Asset Management LLC now owns 9,211 shares of the software maker’s stock worth $2,271,000 after purchasing an additional 8,128 shares during the period. Summit Global Investments bought a new stake in shares of AppFolio during the 3rd quarter valued at $759,000. Gladius Capital Management LP bought a new stake in shares of AppFolio during the 2nd quarter valued at $1,054,000. Baker Avenue Asset Management LP grew its position in shares of AppFolio by 16.5% during the 3rd quarter. Baker Avenue Asset Management LP now owns 21,483 shares of the software maker’s stock valued at $5,057,000 after acquiring an additional 3,038 shares during the period. Finally, TD Asset Management Inc grew its position in shares of AppFolio by 48.1% during the 2nd quarter. TD Asset Management Inc now owns 8,000 shares of the software maker’s stock valued at $1,957,000 after acquiring an additional 2,600 shares during the period. Institutional investors own 62.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on APPF. KeyCorp reduced 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. Piper Sandler reduced their price objective on AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. StockNews.com cut AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Finally, Keefe, Bruyette & Woods cut 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 given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $261.75.

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.