AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Sells $1,165,429.78 in Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 4,462 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $261.19, for a total transaction of $1,165,429.78. Following the completion of the transaction, the insider now directly owns 49,784 shares in the company, valued at $13,003,082.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

AppFolio Trading Down 10.9 %

AppFolio stock opened at $230.95 on Friday. 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 $242.53 and its 200 day simple moving average is $231.18. The company has a market cap of $8.36 billion, a price-to-earnings ratio of 111.57 and a beta of 0.80.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings data on Thursday, July 25th. The software maker reported $1.12 EPS for the quarter, beating the consensus estimate of $0.96 by $0.16. AppFolio had a return on equity of 29.03% and a net margin of 17.32%. The business had revenue of $197.38 million for the quarter, compared to the consensus estimate of $190.57 million. During the same quarter in the prior year, the business 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, equities research analysts forecast that AppFolio, Inc. will post 2.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on APPF shares. KeyCorp raised their price target on shares of AppFolio from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday. Piper Sandler raised their price target on shares of AppFolio from $295.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday. StockNews.com raised shares of AppFolio from a “hold” rating to a “buy” rating in a research report on Friday. Keefe, Bruyette & Woods raised their price target on shares of AppFolio from $215.00 to $238.00 and gave the company a “market perform” rating in a research report on Friday, April 26th. Finally, Piper Sandler Companies reissued an “overweight” rating and set a $300.00 price target on shares of AppFolio in a research report on Friday. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $277.75.

Hedge Funds Weigh In On AppFolio

Several institutional investors have recently bought and sold shares of APPF. Norges Bank purchased a new stake in shares of AppFolio during the fourth quarter worth $38,458,000. Zeno Equity Partners LLP purchased a new stake in shares of AppFolio during the fourth quarter worth $33,434,000. Principal Financial Group Inc. lifted its position in shares of AppFolio by 2,359.8% during the first quarter. Principal Financial Group Inc. now owns 151,646 shares of the software maker’s stock worth $37,417,000 after acquiring an additional 145,481 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of AppFolio by 344.7% during the first quarter. Assenagon Asset Management S.A. now owns 155,127 shares of the software maker’s stock worth $38,276,000 after acquiring an additional 120,246 shares in the last quarter. Finally, Westwind Capital lifted its position in shares of AppFolio by 301.0% during the second quarter. Westwind Capital now owns 149,240 shares of the software maker’s stock worth $3,650,000 after acquiring an additional 112,024 shares in the last quarter. Hedge funds and other institutional investors own 62.34% of the company’s stock.

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.