AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Maurice J. Duca Sells 2,274 Shares

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 2,274 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $233.01, for a total value of $529,864.74. Following the transaction, the insider now directly owns 19,122 shares of the company’s stock, valued at approximately $4,455,617.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

AppFolio Stock Performance

NASDAQ APPF opened at $229.41 on Wednesday. The firm’s 50 day moving average price is $236.57 and its two-hundred day moving average price is $234.00. AppFolio, Inc. has a twelve month low of $164.29 and a twelve month high of $274.56. The stock has a market cap of $8.31 billion, a price-to-earnings ratio of 110.83 and a beta of 0.81.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, July 25th. The software maker reported $1.12 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.16. AppFolio had a return on equity of 27.39% and a net margin of 17.32%. The firm had revenue of $197.38 million for the quarter, compared to analyst estimates of $190.57 million. During the same period in the previous year, the firm earned ($0.53) earnings per share. AppFolio’s quarterly revenue was up 34.2% on a year-over-year basis. On average, research analysts forecast that AppFolio, Inc. will post 3.04 EPS for the current fiscal year.

Institutional Trading of AppFolio

A number of hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC increased its stake in AppFolio by 589.5% in the 2nd quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock valued at $32,000 after buying an additional 112 shares during the period. CWM LLC grew its holdings in shares of AppFolio by 238.6% during the 2nd quarter. CWM LLC now owns 149 shares of the software maker’s stock valued at $36,000 after acquiring an additional 105 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of AppFolio by 291.3% in the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock worth $44,000 after acquiring an additional 134 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of AppFolio by 688.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock worth $52,000 after acquiring an additional 186 shares in the last quarter. Finally, Quarry LP boosted its position in AppFolio by 147.9% during the second 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. 62.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Piper Sandler raised their price objective on shares of AppFolio from $295.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. StockNews.com cut shares of AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd. KeyCorp upped their price target on AppFolio from $275.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, July 26th. JPMorgan Chase & Co. raised their price objective on AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Finally, DA Davidson boosted their target price on AppFolio from $285.00 to $300.00 and gave the stock a “buy” 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 stock. According to data from MarketBeat, AppFolio presently has a consensus rating of “Moderate Buy” and a consensus price target of $277.75.

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.