AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Maurice J. Duca Sells 2,968 Shares

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 2,968 shares of AppFolio stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $234.87, for a total transaction of $697,094.16. Following the completion of the sale, the insider now owns 24,500 shares in the company, valued at $5,754,315. The sale was disclosed in a document filed with the SEC, which can be accessed 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 Trading Up 1.1 %

NASDAQ APPF traded up $2.60 during trading on Thursday, reaching $231.82. The company’s stock had a trading volume of 9,993 shares, compared to its average volume of 292,551. The stock has a market capitalization of $8.39 billion, a PE ratio of 110.73 and a beta of 0.81. The business has a 50-day moving average price of $236.75 and a 200-day moving average price of $234.09. AppFolio, Inc. has a 1-year low of $164.29 and a 1-year high of $274.56.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Thursday, July 25th. The software maker reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.16. AppFolio had a net margin of 17.32% and a return on equity of 27.39%. The business had revenue of $197.38 million during the quarter, compared to analysts’ expectations of $190.57 million. During the same period in the previous year, the company earned ($0.53) earnings per share. AppFolio’s revenue for the quarter was up 34.2% on a year-over-year basis. As a group, analysts expect that AppFolio, Inc. will post 2.99 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on APPF. Piper Sandler Companies reiterated an “overweight” rating and issued a $300.00 price objective on shares of AppFolio in a research report on Friday, July 26th. Piper Sandler boosted their price target on shares of AppFolio from $295.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. DA Davidson boosted their price target on shares of AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. boosted their price target on shares of AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Finally, KeyCorp boosted their price target on shares of AppFolio from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, AppFolio has an average rating of “Moderate Buy” and a consensus price target of $277.75.

Institutional Trading of AppFolio

Institutional investors and hedge funds have recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky acquired a new position in AppFolio during the 2nd quarter valued at $1,646,000. Truist Financial Corp raised its stake in AppFolio by 12.8% during the 2nd quarter. Truist Financial Corp now owns 2,467 shares of the software maker’s stock valued at $603,000 after purchasing an additional 280 shares during the last quarter. Quarry LP raised its stake in AppFolio by 147.9% during the 2nd quarter. Quarry LP now owns 238 shares of the software maker’s stock valued at $58,000 after purchasing an additional 142 shares during the last quarter. Capital Impact Advisors LLC bought a new stake in AppFolio in the 2nd quarter valued at $738,000. Finally, Seaport Global Advisors LLC bought a new stake in AppFolio in the 2nd quarter valued at $399,000. 62.34% of the stock is currently owned by institutional investors and hedge funds.

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.