AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Maurice J. Duca Sells 3,000 Shares

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $243.15, for a total transaction of $729,450.00. Following the transaction, the insider now owns 17,491 shares of the company’s stock, valued at $4,252,936.65. The transaction was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

AppFolio Stock Up 1.6 %

Shares of NASDAQ APPF opened at $247.16 on Wednesday. The firm has a market cap of $8.95 billion, a PE ratio of 119.40 and a beta of 0.80. AppFolio, Inc. has a 12-month low of $164.29 and a 12-month high of $256.73. The company’s fifty day simple moving average is $236.38 and its 200 day simple moving average is $220.96.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Zeno Equity Partners LLP purchased a new position in AppFolio during the fourth quarter worth about $30,000. GAMMA Investing LLC boosted its holdings in AppFolio by 589.5% during the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after purchasing an additional 112 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in 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 purchasing an additional 134 shares during the last quarter. USA Financial Formulas purchased a new position in AppFolio during the fourth quarter worth about $59,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in AppFolio during the fourth quarter worth about $64,000. 62.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on APPF. KeyCorp upped their price target on shares of AppFolio from $264.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. 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 reiterated an “overweight” rating and set a $241.00 price objective on shares of AppFolio in a research report on Friday, April 26th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of AppFolio from $215.00 to $238.00 and gave the stock a “market perform” rating in a research report on Friday, April 26th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $248.71.

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.