Maurice J. Duca Sells 2,741 Shares of AppFolio, Inc. (NASDAQ:APPF) Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 2,741 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $230.94, for a total transaction of $633,006.54. Following the completion of the sale, the insider now owns 37,904 shares in the company, valued at approximately $8,753,549.76. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

AppFolio Price Performance

Shares of AppFolio stock opened at $238.62 on Wednesday. The stock has a fifty day moving average price of $233.35 and a 200-day moving average price of $218.72. The firm has a market cap of $8.64 billion, a PE ratio of 115.28 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 posted its quarterly earnings data 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 business 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%. As a group, equities analysts anticipate that AppFolio, Inc. will post 2.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

APPF has been the subject of several analyst reports. Piper Sandler assumed coverage on AppFolio in a research note on Monday, June 10th. They issued an “overweight” rating and a $295.00 price objective for the company. Stephens reissued an “overweight” rating and issued a $241.00 price target on shares of AppFolio in a research report on Friday, April 26th. Keefe, Bruyette & Woods lifted their price objective on shares of AppFolio from $215.00 to $238.00 and gave the stock a “market perform” rating in a report on Friday, April 26th. Finally, KeyCorp increased their target price on shares of AppFolio from $264.00 to $275.00 and gave the company an “overweight” rating in a report 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 data from MarketBeat.com, AppFolio has a consensus rating of “Moderate Buy” and a consensus target price of $248.71.

Institutional Investors Weigh In On AppFolio

Hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its position in 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 raised its stake in AppFolio by 62.7% in the 4th quarter. Long Walk Management LP now owns 122,000 shares of the software maker’s stock valued at $21,135,000 after acquiring an additional 47,000 shares during the period. Oberndorf William E purchased a new stake in AppFolio during the fourth quarter valued at about $3,020,000. WCM Investment Management LLC bought a new position in AppFolio during the fourth quarter worth about $12,941,000. Finally, Nebula Research & Development LLC raised its position 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 valued at $1,566,000 after purchasing an additional 7,658 shares during the period. 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.