AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Maurice J. Duca Sells 3,205 Shares

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 3,205 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $239.22, for a total transaction of $766,700.10. Following the completion of the transaction, the insider now owns 31,643 shares of the company’s stock, valued at approximately $7,569,638.46. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

AppFolio Price Performance

Shares of AppFolio stock opened at $248.89 on Friday. The stock’s 50-day moving average is $234.53 and its 200 day moving average is $219.07. AppFolio, Inc. has a one year low of $164.29 and a one year high of $256.73. The firm has a market cap of $9.01 billion, a price-to-earnings ratio of 120.24 and a beta of 0.80.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Thursday, April 25th. The software maker reported $0.68 EPS for the quarter, topping the consensus estimate 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%. On average, sell-side analysts expect that AppFolio, Inc. will post 2.85 EPS for the current fiscal year.

Hedge Funds Weigh In On AppFolio

Several large investors have recently added to or reduced their stakes in the business. Zeno Equity Partners LLP bought a new stake in AppFolio during the fourth quarter worth $30,000. Advisors Asset Management Inc. grew its stake in shares of AppFolio by 291.3% in the 1st quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock worth $44,000 after acquiring an additional 134 shares in the last quarter. USA Financial Formulas purchased a new stake in shares of AppFolio in the fourth quarter valued at about $59,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of AppFolio during the fourth quarter valued at about $64,000. Finally, Headlands Technologies LLC bought a new position in shares of AppFolio during the fourth quarter valued at about $85,000. Institutional investors own 62.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Piper Sandler started coverage on shares of AppFolio in a research report on Monday, June 10th. They issued an “overweight” rating and a $295.00 price target for the company. Stephens restated an “overweight” rating and issued a $241.00 price objective on shares of AppFolio in a report on Friday, April 26th. KeyCorp upped their price target on AppFolio from $264.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Finally, 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 research 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’s stock. According to MarketBeat.com, AppFolio has a consensus rating of “Moderate Buy” and an average price target of $248.71.

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.