AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Maurice J. Duca Sells 2,600 Shares

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 2,600 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $229.65, for a total value of $597,090.00. Following the completion of the sale, the insider now owns 52,400 shares in the company, valued at $12,033,660. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

AppFolio Stock Performance

Shares of APPF stock opened at $231.76 on Wednesday. The stock’s 50-day moving average is $232.05 and its two-hundred day moving average is $217.14. The firm has a market cap of $8.39 billion, a price-to-earnings ratio of 111.96 and a beta of 0.80. AppFolio, Inc. has a 1 year low of $162.32 and a 1 year high of $256.73.

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Piper Sandler assumed coverage on AppFolio in a research note on Monday, June 10th. They issued an “overweight” rating and a $295.00 price target on the stock. KeyCorp raised their price target on AppFolio from $264.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. 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. Finally, Stephens reaffirmed an “overweight” rating and set a $241.00 price objective on shares of AppFolio in a report on Friday, April 26th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $248.71.

Hedge Funds Weigh In On AppFolio

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Verdence Capital Advisors LLC grew its holdings in shares of AppFolio by 2.7% during the fourth 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. Harbor Capital Advisors Inc. grew its holdings in shares of AppFolio by 3.2% during the fourth quarter. Harbor Capital Advisors Inc. now owns 3,691 shares of the software maker’s stock worth $639,000 after buying an additional 116 shares during the last quarter. Advisors Asset Management Inc. grew its holdings 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 worth $44,000 after buying an additional 134 shares during the last quarter. Zeno Equity Partners LLP purchased a new position in shares of AppFolio during the fourth quarter worth about $30,000. Finally, Capstone Investment Advisors LLC lifted its position in AppFolio by 5.2% in the fourth quarter. Capstone Investment Advisors LLC now owns 5,158 shares of the software maker’s stock valued at $894,000 after purchasing an additional 257 shares during the period. Hedge funds and other institutional investors own 62.34% of the company’s stock.

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.