AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Maurice J. Duca Sells 5,200 Shares

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 5,200 shares of AppFolio stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $244.93, for a total value of $1,273,636.00. Following the completion of the transaction, the insider now owns 20,491 shares in the company, valued at approximately $5,018,860.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

AppFolio Price Performance

Shares of APPF stock opened at $247.16 on Wednesday. The business has a fifty day moving average of $236.38 and a 200 day moving average of $220.96. The firm has a market capitalization of $8.95 billion, a price-to-earnings ratio of 119.40 and a beta of 0.80. AppFolio, Inc. has a 1 year low of $164.29 and a 1 year high of $256.73.

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 return on equity of 13.51% and a net margin of 11.38%. The business had revenue of $187.43 million during the quarter, compared to analyst estimates of $173.66 million. As a group, equities research analysts expect that AppFolio, Inc. will post 2.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

APPF has been the topic of a number of analyst reports. 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 research report on Friday, April 26th. Stephens reaffirmed an “overweight” rating and set a $241.00 price target on shares of AppFolio in a research report on Friday, April 26th. KeyCorp raised their price objective on AppFolio from $264.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Finally, Piper Sandler initiated coverage on AppFolio in a research report on Monday, June 10th. They set an “overweight” rating and a $295.00 target price on the stock. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $248.71.

Hedge Funds Weigh In On AppFolio

Several institutional investors have recently made changes to their positions in APPF. Vanguard Group Inc. grew its position in AppFolio by 3.6% during the first quarter. Vanguard Group Inc. now owns 2,152,626 shares of the software maker’s stock valued at $531,139,000 after buying an additional 73,965 shares during the period. Gilder Gagnon Howe & Co. LLC increased its stake in shares of AppFolio by 3.8% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 421,309 shares of the software maker’s stock valued at $72,988,000 after purchasing an additional 15,283 shares in the last quarter. Norges Bank acquired a new position in AppFolio in the 4th quarter worth about $38,458,000. Zeno Equity Partners LLP boosted its position in AppFolio by 6.6% during the first quarter. Zeno Equity Partners LLP now owns 205,781 shares of the software maker’s stock worth $50,774,000 after purchasing an additional 12,786 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in AppFolio by 1.1% in the third quarter. Northern Trust Corp now owns 202,348 shares of the software maker’s stock valued at $36,955,000 after purchasing an additional 2,224 shares during the period. 62.34% of the stock is owned by hedge funds and other institutional investors.

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.