Maurice J. Duca Sells 2,701 Shares of AppFolio, Inc. (NASDAQ:APPF) Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 2,701 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $240.08, for a total value of $648,456.08. Following the completion of the transaction, the insider now directly owns 5,452 shares of the company’s stock, valued at $1,308,916.16. The trade was a 33.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

AppFolio Trading Up 1.7 %

NASDAQ:APPF opened at $255.40 on Wednesday. The company has a market cap of $9.28 billion, a P/E ratio of 71.14 and a beta of 0.83. AppFolio, Inc. has a twelve month low of $164.29 and a twelve month high of $274.56. The company’s 50-day moving average price is $223.34 and its 200-day moving average price is $230.86.

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

Analyst Ratings Changes

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

Hedge Funds Weigh In On AppFolio

Institutional investors have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC increased its position in AppFolio by 188.2% during the second quarter. Squarepoint Ops LLC now owns 185,034 shares of the software maker’s stock worth $45,254,000 after purchasing an additional 120,835 shares during the last quarter. Westwind Capital increased its holdings in shares of AppFolio by 301.0% during the 2nd quarter. Westwind Capital now owns 149,240 shares of the software maker’s stock worth $3,650,000 after buying an additional 112,024 shares during the last quarter. Los Angeles Capital Management LLC raised its position in shares of AppFolio by 516.6% during the 2nd quarter. Los Angeles Capital Management LLC now owns 109,850 shares of the software maker’s stock valued at $26,866,000 after buying an additional 92,034 shares during the period. FMR LLC lifted its holdings in AppFolio by 998.0% in the third quarter. FMR LLC now owns 60,894 shares of the software maker’s stock valued at $14,334,000 after acquiring an additional 55,348 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in AppFolio in the second quarter worth approximately $12,993,000. Hedge funds and other institutional investors own 62.34% of the company’s stock.

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.