AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Maurice J. Duca Sells 2,084 Shares

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 2,084 shares of the stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $251.06, for a total transaction of $523,209.04. Following the completion of the transaction, the insider now owns 7,976 shares in the company, valued at $2,002,454.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

AppFolio Price Performance

Shares of APPF stock traded down $0.03 during midday trading on Monday, hitting $252.55. The company had a trading volume of 175,954 shares, compared to its average volume of 300,895. AppFolio, Inc. has a 52-week low of $164.29 and a 52-week high of $256.73. The company’s 50 day simple moving average is $238.22 and its 200 day simple moving average is $223.07. The stock has a market cap of $9.14 billion, a price-to-earnings ratio of 122.01 and a beta of 0.80.

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

Hedge Funds Weigh In On AppFolio

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Verdence Capital Advisors LLC increased its holdings in shares of AppFolio by 2.7% during the 4th quarter. Verdence Capital Advisors LLC now owns 2,114 shares of the software maker’s stock worth $366,000 after buying an additional 55 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of AppFolio by 589.5% in the 2nd quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after purchasing an additional 112 shares during the period. Harbor Capital Advisors Inc. lifted its stake in shares of AppFolio by 3.2% in the 4th quarter. Harbor Capital Advisors Inc. now owns 3,691 shares of the software maker’s stock valued at $639,000 after purchasing an additional 116 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of AppFolio by 291.3% during the 1st quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock worth $44,000 after purchasing an additional 134 shares during the period. Finally, Zeno Equity Partners LLP acquired a new stake in AppFolio during the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 62.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on APPF shares. Piper Sandler assumed coverage on shares of AppFolio in a research report on Monday, June 10th. They issued an “overweight” rating and a $295.00 target price on the stock. Keefe, Bruyette & Woods raised their price objective on AppFolio from $215.00 to $238.00 and gave the stock a “market perform” rating in a report on Friday, April 26th. Stephens reissued an “overweight” rating and issued a $241.00 target price on shares of AppFolio in a report on Friday, April 26th. Finally, KeyCorp raised their price target on AppFolio from $264.00 to $275.00 and gave the stock 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $248.71.

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.