AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Sells $46,436.00 in Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 200 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $232.18, for a total value of $46,436.00. Following the transaction, the insider now owns 18,922 shares of the company’s stock, valued at approximately $4,393,309.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

AppFolio Price Performance

NASDAQ APPF traded up $1.97 on Friday, hitting $233.79. 566,286 shares of the stock were exchanged, compared to its average volume of 283,935. The company has a market capitalization of $8.47 billion, a price-to-earnings ratio of 112.94 and a beta of 0.81. The company’s 50-day moving average price is $231.27 and its two-hundred day moving average price is $233.17. AppFolio, Inc. has a 52-week low of $164.29 and a 52-week high of $274.56.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Thursday, July 25th. The software maker reported $1.12 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $190.57 million. During the same period in the prior year, the business earned ($0.53) EPS. The business’s revenue for the quarter was up 34.2% on a year-over-year basis. Equities analysts predict that AppFolio, Inc. will post 3.04 EPS for the current fiscal year.

Institutional Trading of AppFolio

Institutional investors have recently made changes to their positions in the stock. Private Advisor Group LLC lifted its position in AppFolio by 19.9% in the 4th quarter. Private Advisor Group LLC now owns 2,100 shares of the software maker’s stock worth $364,000 after buying an additional 348 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of AppFolio by 13.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 170,239 shares of the software maker’s stock valued at $29,492,000 after acquiring an additional 20,166 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of AppFolio by 12.3% in the fourth quarter. Principal Financial Group Inc. now owns 6,165 shares of the software maker’s stock worth $1,068,000 after acquiring an additional 673 shares during the last quarter. Norges Bank purchased a new stake in shares of AppFolio during the fourth quarter worth $38,458,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in AppFolio during the fourth quarter valued at $64,000. 62.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

APPF has been the topic of several recent research reports. KeyCorp lifted their price objective on shares of AppFolio from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. raised their price target on AppFolio from $260.00 to $328.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Piper Sandler Companies restated an “overweight” rating and set a $300.00 price objective on shares of AppFolio in a research note on Friday, July 26th. Piper Sandler increased their price target on AppFolio from $295.00 to $300.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, DA Davidson lifted their price objective on shares of AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, AppFolio presently has a consensus rating of “Moderate Buy” and a consensus target price 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.