AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Sells $2,791,410.16 in Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 11,627 shares of AppFolio stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $240.08, for a total transaction of $2,791,410.16. Following the transaction, the insider now directly owns 27,768 shares of the company’s stock, valued at $6,666,541.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

AppFolio Stock Performance

APPF opened at $210.59 on Friday. The company’s 50-day simple moving average is $240.78 and its two-hundred day simple moving average is $232.20. The stock has a market capitalization of $7.63 billion, a P/E ratio of 101.73 and a beta of 0.81. AppFolio, Inc. has a 52-week low of $164.29 and a 52-week high of $274.56.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Thursday, July 25th. The software maker reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.16. AppFolio had a net margin of 17.32% and a return on equity of 27.39%. The company had revenue of $197.38 million for the quarter, compared to the consensus estimate of $190.57 million. During the same quarter in the prior year, the firm earned ($0.53) earnings per share. The firm’s revenue for the quarter was up 34.2% compared to the same quarter last year. Research analysts forecast that AppFolio, Inc. will post 2.99 EPS for the current fiscal year.

Institutional Trading of AppFolio

Several large investors have recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in AppFolio by 589.5% in the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock valued at $32,000 after acquiring an additional 112 shares during the period. CWM LLC lifted its stake in shares of AppFolio by 238.6% in the 2nd quarter. CWM LLC now owns 149 shares of the software maker’s stock worth $36,000 after purchasing an additional 105 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of AppFolio by 291.3% in the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock worth $44,000 after buying an additional 134 shares during the last quarter. USA Financial Formulas bought a new stake in AppFolio during the fourth quarter valued at approximately $59,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in AppFolio during the fourth quarter valued at approximately $64,000. Institutional investors own 62.34% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on APPF. Keefe, Bruyette & Woods raised their target price on shares of AppFolio from $215.00 to $238.00 and gave the company a “market perform” rating in a research note on Friday, April 26th. Piper Sandler Companies reiterated an “overweight” rating and set a $300.00 price objective on shares of AppFolio in a research note on Friday, July 26th. JPMorgan Chase & Co. increased their target price on AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Stephens reaffirmed an “overweight” rating and issued a $241.00 price target on shares of AppFolio in a research report on Friday, April 26th. Finally, DA Davidson increased their price objective on shares of AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $277.75.

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.