AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Sells $15,268.80 in Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 60 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $254.48, for a total value of $15,268.80. Following the sale, the insider now owns 5 shares of the company’s stock, valued at approximately $1,272.40. This represents a 92.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

AppFolio Stock Down 0.4 %

Shares of APPF stock opened at $253.75 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 $9.22 billion, a PE ratio of 70.68 and a beta of 0.83. The business’s 50 day moving average is $224.84 and its two-hundred day moving average is $231.25.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.26. The business had revenue of $206.00 million for the quarter, compared to analyst estimates of $199.11 million. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. AppFolio’s revenue was up 24.5% compared to the same quarter last year. During the same period last year, the business posted $0.26 EPS. As a group, equities analysts expect that AppFolio, Inc. will post 3.23 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On AppFolio

A number of institutional investors have recently made changes to their positions in APPF. Lazard Asset Management LLC increased 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 buying an additional 8,128 shares during the period. Summit Global Investments bought a new position in AppFolio during the third quarter worth $759,000. Gladius Capital Management LP acquired a new position in AppFolio during the 2nd quarter valued at $1,054,000. Baker Avenue Asset Management LP boosted its holdings in AppFolio by 16.5% in 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 purchasing an additional 3,038 shares during the period. Finally, TD Asset Management Inc boosted its holdings in AppFolio by 48.1% in the 2nd quarter. TD Asset Management Inc now owns 8,000 shares of the software maker’s stock valued at $1,957,000 after purchasing an additional 2,600 shares during the period. 62.34% of the stock is currently owned by 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.