Insider Selling: AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Sells 1,842 Shares of Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 1,842 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $235.71, for a total transaction of $434,177.82. Following the completion of the transaction, the insider now owns 12,874 shares of the company’s stock, valued at $3,034,530.54. The sale was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

AppFolio Trading Up 0.9 %

Shares of APPF stock opened at $236.32 on Friday. The firm has a market capitalization of $8.56 billion, a price-to-earnings ratio of 114.16 and a beta of 0.81. The business’s 50-day moving average price is $228.51 and its 200-day moving average price is $233.37. AppFolio, Inc. has a 12 month low of $164.29 and a 12 month high of $274.56.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, July 25th. The software maker reported $1.12 EPS for the quarter, topping the consensus estimate of $0.96 by $0.16. AppFolio had a net margin of 17.32% and a return on equity of 27.39%. The business had revenue of $197.38 million for the quarter, compared to the consensus estimate of $190.57 million. During the same period last year, the company earned ($0.53) EPS. The firm’s revenue was up 34.2% compared to the same quarter last year. On average, sell-side analysts predict that AppFolio, Inc. will post 3.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on APPF shares. KeyCorp lifted their price objective on shares of AppFolio from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Piper Sandler Companies reissued an “overweight” rating and set a $300.00 price target on shares of AppFolio in a report on Friday, July 26th. JPMorgan Chase & Co. raised their price objective on AppFolio from $260.00 to $328.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. StockNews.com downgraded AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Finally, DA Davidson raised their price target on shares of AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, July 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 price target of $277.75.

Institutional Trading of AppFolio

Several institutional investors have recently modified their holdings of the business. Gordian Capital Singapore Pte Ltd bought a new position in AppFolio during the 2nd quarter worth $265,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of AppFolio in the second quarter valued at about $1,646,000. Truist Financial Corp raised its position in shares of AppFolio by 12.8% during the second quarter. Truist Financial Corp now owns 2,467 shares of the software maker’s stock worth $603,000 after acquiring an additional 280 shares during the last quarter. Quarry LP lifted its stake in shares of AppFolio by 147.9% in the second quarter. Quarry LP now owns 238 shares of the software maker’s stock worth $58,000 after acquiring an additional 142 shares during the period. Finally, Capital Impact Advisors LLC bought a new stake in AppFolio in the second quarter valued at approximately $738,000. 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.