Maurice J. Duca Sells 2,577 Shares of AppFolio, Inc. (NASDAQ:APPF) Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 2,577 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $250.75, for a total transaction of $646,182.75. Following the completion of the transaction, the insider now directly owns 2,875 shares of the company’s stock, valued at $720,906.25. This represents a 47.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

AppFolio Trading Down 0.2 %

Shares of NASDAQ APPF opened at $254.82 on Thursday. The firm’s 50-day moving average price is $223.87 and its 200-day moving average price is $230.91. The stock has a market capitalization of $9.26 billion, a price-to-earnings ratio of 70.52 and a beta of 0.83. AppFolio, Inc. has a 12-month low of $164.29 and a 12-month high of $274.56.

AppFolio (NASDAQ:APPF) last announced its earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.26. The firm had revenue of $206.00 million for the quarter, compared to analysts’ expectations of $199.11 million. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The business’s revenue was up 24.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.26 EPS. On average, equities analysts predict that AppFolio, Inc. will post 3.23 EPS for the current fiscal year.

Analysts Set New Price Targets

APPF has been the subject of several recent analyst reports. Keefe, Bruyette & Woods downgraded shares of AppFolio from a “market perform” rating to an “underperform” rating and dropped their target price for the stock from $255.00 to $193.00 in a report on Tuesday, October 15th. KeyCorp dropped their target price on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Piper Sandler decreased their price target on shares of AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Finally, StockNews.com cut shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, AppFolio currently has a consensus rating of “Moderate Buy” and a consensus price target of $261.75.

Hedge Funds Weigh In On AppFolio

Several hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in shares of AppFolio by 85.7% during the third quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock worth $29,000 after acquiring an additional 54 shares during the period. GAMMA Investing LLC increased its holdings in AppFolio by 589.5% during the second 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 increased its holdings in AppFolio by 238.6% during the second quarter. CWM LLC now owns 149 shares of the software maker’s stock valued at $36,000 after buying an additional 105 shares during the period. Advisors Asset Management Inc. boosted its stake in AppFolio by 291.3% in the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock valued at $44,000 after acquiring an additional 134 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in AppFolio by 688.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock valued at $52,000 after acquiring an additional 186 shares in the last quarter. 62.34% of the stock is currently owned by institutional investors.

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.