Insider Selling: AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Sells 1,842 Shares of Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 1,842 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $235.71, for a total transaction of $434,177.82. Following the completion of the sale, the insider now directly owns 12,874 shares in the company, valued at approximately $3,034,530.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

AppFolio Stock Down 1.8 %

NASDAQ:APPF traded down $4.37 during trading hours on Wednesday, reaching $234.14. 137,853 shares of the company’s stock were exchanged, compared to its average volume of 281,565. The company has a market capitalization of $8.49 billion, a P/E ratio of 113.11 and a beta of 0.81. AppFolio, Inc. has a 12 month low of $164.29 and a 12 month high of $274.56. The business’s 50-day simple moving average is $229.63 and its two-hundred day simple moving average is $233.34.

AppFolio (NASDAQ:APPF) last issued its earnings results 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. The firm had revenue of $197.38 million during the quarter, compared to analysts’ expectations of $190.57 million. AppFolio had a net margin of 17.32% and a return on equity of 27.39%. The firm’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.53) earnings per share. As a group, sell-side analysts anticipate that AppFolio, Inc. will post 3.04 earnings per share for the current fiscal year.

Institutional Trading of AppFolio

A number of large investors have recently added to or reduced their stakes in APPF. GAMMA Investing LLC boosted its stake in AppFolio by 589.5% in the 2nd 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 period. CWM LLC boosted its stake in AppFolio by 238.6% in the 2nd quarter. CWM LLC now owns 149 shares of the software maker’s stock worth $36,000 after purchasing an additional 105 shares during the period. Advisors Asset Management Inc. boosted its stake in AppFolio by 291.3% in the 1st 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 period. Northwestern Mutual Wealth Management Co. boosted its stake in AppFolio by 688.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock worth $52,000 after purchasing an additional 186 shares during the period. Finally, Quarry LP boosted its stake in AppFolio by 147.9% in the 2nd quarter. Quarry LP now owns 238 shares of the software maker’s stock worth $58,000 after purchasing an additional 142 shares during the period. 62.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on APPF. KeyCorp upped their price objective on shares of AppFolio from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. DA Davidson boosted their price objective on shares of AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Piper Sandler Companies reiterated an “overweight” rating and issued a $300.00 price objective on shares of AppFolio in a report on Friday, July 26th. Piper Sandler increased 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. Finally, StockNews.com lowered shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $277.75.

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.