Insider Selling: AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Sells 3,000 Shares of Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 3,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $243.15, for a total value of $729,450.00. Following the transaction, the insider now directly owns 17,491 shares in the company, valued at approximately $4,252,936.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

AppFolio Trading Up 1.6 %

AppFolio stock traded up $3.80 during midday trading on Tuesday, reaching $247.16. 329,615 shares of the stock traded hands, compared to its average volume of 303,626. The firm has a fifty day moving average price of $236.38 and a two-hundred day moving average price of $220.96. AppFolio, Inc. has a fifty-two week low of $164.29 and a fifty-two week high of $256.73. The firm has a market cap of $8.95 billion, a price-to-earnings ratio of 119.40 and a beta of 0.80.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Thursday, April 25th. The software maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.09. AppFolio had a return on equity of 13.51% and a net margin of 11.38%. The business had revenue of $187.43 million during the quarter, compared to the consensus estimate of $173.66 million. Analysts anticipate that AppFolio, Inc. will post 2.85 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Piper Sandler began coverage on AppFolio in a research note on Monday, June 10th. They set an “overweight” rating and a $295.00 price objective on the stock. Keefe, Bruyette & Woods lifted their price target on shares of AppFolio from $215.00 to $238.00 and gave the company a “market perform” rating in a report on Friday, April 26th. Stephens reiterated an “overweight” rating and set a $241.00 price objective on shares of AppFolio in a research note on Friday, April 26th. Finally, KeyCorp lifted their target price on AppFolio from $264.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, AppFolio presently has a consensus rating of “Moderate Buy” and an average target price of $248.71.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Zeno Equity Partners LLP bought a new stake in shares of AppFolio during the fourth quarter valued at about $30,000. GAMMA Investing LLC grew its position in AppFolio by 589.5% in the 2nd quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock valued at $32,000 after buying an additional 112 shares in the last quarter. Advisors Asset Management Inc. increased its stake in AppFolio by 291.3% during the 1st 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 during the period. USA Financial Formulas bought a new stake in shares of AppFolio during the 4th quarter worth about $59,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of AppFolio in the 4th quarter worth approximately $64,000. Institutional investors own 62.34% of the company’s stock.

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.