Maurice J. Duca Sells 2,100 Shares of AppFolio, Inc. (NASDAQ:APPF) Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 2,100 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $231.20, for a total transaction of $485,520.00. Following the sale, the insider now directly owns 55,000 shares of the company’s stock, valued at $12,716,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

AppFolio Price Performance

Shares of APPF opened at $231.76 on Thursday. The company has a market capitalization of $8.39 billion, a price-to-earnings ratio of 111.96 and a beta of 0.80. The business’s 50-day moving average is $232.17 and its 200-day moving average is $217.24. AppFolio, Inc. has a fifty-two week low of $162.32 and a fifty-two week high of $256.73.

AppFolio (NASDAQ:APPF) last released its 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. The company had revenue of $187.43 million during the quarter, compared to the consensus estimate of $173.66 million. AppFolio had a net margin of 11.38% and a return on equity of 13.51%. Equities research analysts expect that AppFolio, Inc. will post 2.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

APPF has been the subject of a number of recent research reports. Piper Sandler began coverage on AppFolio in a research report on Monday, June 10th. They set an “overweight” rating and a $295.00 price objective for the company. Keefe, Bruyette & Woods upped their target price on AppFolio from $215.00 to $238.00 and gave the company a “market perform” rating in a report on Friday, April 26th. KeyCorp lifted their price target on AppFolio from $264.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Finally, Stephens reaffirmed an “overweight” rating and set a $241.00 price objective on shares of AppFolio in a research note on Friday, April 26th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $248.71.

Institutional Trading of AppFolio

Institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its position in shares of AppFolio by 497.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 43,552 shares of the software maker’s stock worth $7,545,000 after buying an additional 36,265 shares during the last quarter. Long Walk Management LP boosted its position in AppFolio by 62.7% during the fourth quarter. Long Walk Management LP now owns 122,000 shares of the software maker’s stock worth $21,135,000 after purchasing an additional 47,000 shares during the period. Oberndorf William E acquired a new position in AppFolio during the fourth quarter valued at approximately $3,020,000. WCM Investment Management LLC bought a new position in shares of AppFolio in the fourth quarter valued at approximately $12,941,000. Finally, Nebula Research & Development LLC lifted its stake in shares of AppFolio by 554.5% in the fourth quarter. Nebula Research & Development LLC now owns 9,039 shares of the software maker’s stock worth $1,566,000 after buying an additional 7,658 shares during the last quarter. Institutional investors and hedge funds 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.