AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Maurice J. Duca Sells 1,296 Shares

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 1,296 shares of AppFolio stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $236.77, for a total value of $306,853.92. Following the sale, the insider now owns 9,383 shares of the company’s stock, valued at approximately $2,221,612.91. The transaction was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

AppFolio Price Performance

APPF stock opened at $236.32 on Friday. The firm has a market cap of $8.56 billion, a PE ratio of 114.16 and a beta of 0.81. AppFolio, Inc. has a 12 month low of $164.29 and a 12 month high of $274.56. The firm has a 50 day simple moving average of $228.51 and a 200 day simple moving average of $233.37.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Thursday, July 25th. The software maker reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.16. The company had revenue of $197.38 million during the quarter, compared to the consensus estimate of $190.57 million. AppFolio had a return on equity of 27.39% and a net margin of 17.32%. The company’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.53) EPS. As a group, sell-side analysts expect that AppFolio, Inc. will post 3.04 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on APPF shares. StockNews.com downgraded AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd. KeyCorp increased their price objective on AppFolio from $275.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Piper Sandler lifted their price objective on shares of AppFolio from $295.00 to $300.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $300.00 price objective on shares of AppFolio in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. upped their price target on shares of AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $277.75.

Hedge Funds Weigh In On AppFolio

A number of institutional investors have recently bought and sold shares of APPF. Brighton Jones LLC lifted its stake in AppFolio by 0.9% during the second quarter. Brighton Jones LLC now owns 5,805 shares of the software maker’s stock valued at $1,420,000 after buying an additional 49 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of AppFolio by 2.9% in the 2nd quarter. ProShare Advisors LLC now owns 3,630 shares of the software maker’s stock valued at $888,000 after acquiring an additional 102 shares in the last quarter. CWM LLC boosted its stake in 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. GAMMA Investing LLC grew its position in AppFolio by 589.5% during 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 in the last quarter. Finally, Advisors Asset Management Inc. raised 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 purchasing an additional 134 shares during the period. Hedge funds and other institutional investors own 62.34% of the company’s stock.

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.