AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Sells $631,935.00 in Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 2,700 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $234.05, for a total value of $631,935.00. Following the transaction, the insider now owns 14,716 shares of the company’s stock, valued at approximately $3,444,279.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

AppFolio Stock Up 0.8 %

AppFolio stock opened at $233.79 on Friday. The company’s 50 day moving average price is $230.66 and its two-hundred day moving average price is $233.16. The stock has a market cap of $8.47 billion, a P/E ratio of 112.94 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 results 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 firm had revenue of $197.38 million for the quarter, compared to analysts’ expectations of $190.57 million. AppFolio had a return on equity of 27.39% and a net margin of 17.32%. The business’s revenue for the quarter 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. On average, equities analysts anticipate that AppFolio, Inc. will post 3.04 EPS for the current year.

Hedge Funds Weigh In On AppFolio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in APPF. Brighton Jones LLC increased its position in shares of AppFolio by 0.9% during the 2nd quarter. Brighton Jones LLC now owns 5,805 shares of the software maker’s stock valued at $1,420,000 after purchasing an additional 49 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of AppFolio by 2.9% in the second quarter. ProShare Advisors LLC now owns 3,630 shares of the software maker’s stock worth $888,000 after buying an additional 102 shares during the period. CWM LLC increased its position in shares of AppFolio by 238.6% in the second quarter. CWM LLC now owns 149 shares of the software maker’s stock valued at $36,000 after acquiring an additional 105 shares during the period. GAMMA Investing LLC increased its holdings in AppFolio by 589.5% during the 2nd quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock valued at $32,000 after purchasing an additional 112 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in shares of AppFolio by 291.3% during the first 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. 62.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on APPF. DA Davidson boosted their price target on AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Piper Sandler Companies reissued an “overweight” rating and issued a $300.00 price target on shares of AppFolio in a report on Friday, July 26th. KeyCorp lifted their target price on AppFolio from $275.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Piper Sandler upped their price objective on shares of AppFolio from $295.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, StockNews.com lowered AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently 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.