Insider Selling: AppFolio (NASDAQ:APPF) Major Shareholder Sells 200 Shares

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice Duca sold 200 shares of AppFolio stock in a transaction on Friday, July 10th. The stock was sold at an average price of $180.00, for a total transaction of $36,000.00. Following the completion of the transaction, the insider owned 42,300 shares in the company, valued at $7,614,000. This trade represents a 0.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

AppFolio Stock Down 3.0%

APPF stock traded down $5.44 during mid-day trading on Tuesday, reaching $174.46. 239,051 shares of the stock traded hands, compared to its average volume of 386,416. AppFolio, Inc. has a 52 week low of $142.56 and a 52 week high of $326.04. The business has a 50-day moving average of $162.66 and a two-hundred day moving average of $177.45. The firm has a market capitalization of $6.17 billion, a PE ratio of 41.54 and a beta of 0.79.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings data on Thursday, April 23rd. The software maker reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.14. AppFolio had a return on equity of 32.35% and a net margin of 15.27%.The business had revenue of $262.21 million for the quarter, compared to analyst estimates of $258.13 million. During the same period in the previous year, the company posted $1.21 earnings per share. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. On average, equities research analysts anticipate that AppFolio, Inc. will post 5.04 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on APPF shares. Wall Street Zen lowered AppFolio from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Weiss Ratings downgraded shares of AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. KeyCorp reaffirmed an “overweight” rating on shares of AppFolio in a research report on Monday, July 6th. UBS Group set a $210.00 target price on shares of AppFolio in a research note on Friday, April 24th. Finally, Benchmark increased their price target on shares of AppFolio from $222.00 to $226.00 and gave the company a “buy” rating in a report on Friday, April 24th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $252.29.

Hedge Funds Weigh In On AppFolio

Several large investors have recently added to or reduced their stakes in the company. Woodline Partners LP lifted its position in shares of AppFolio by 2.9% in the 1st quarter. Woodline Partners LP now owns 1,754 shares of the software maker’s stock worth $386,000 after acquiring an additional 50 shares during the period. EverSource Wealth Advisors LLC lifted its position in AppFolio by 101.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock worth $26,000 after purchasing an additional 56 shares during the period. Mercer Global Advisors Inc. ADV lifted its position in AppFolio by 4.8% in the third quarter. Mercer Global Advisors Inc. ADV now owns 1,263 shares of the software maker’s stock worth $348,000 after purchasing an additional 58 shares during the period. Somerset Trust Co boosted its stake in AppFolio by 5.5% during the fourth quarter. Somerset Trust Co now owns 1,176 shares of the software maker’s stock worth $274,000 after buying an additional 61 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in AppFolio by 48.8% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker’s stock worth $53,000 after buying an additional 63 shares in the last quarter. Institutional investors and hedge funds own 85.19% of the company’s stock.

About AppFolio

AppFolio, Inc is a Santa Barbara–based provider of cloud-based software solutions for the property management and legal industries. Founded in 2006 by former software executives, the company went public on the NASDAQ under the symbol APPF in 2015. Its original offering, AppFolio Property Manager, automates accounting, marketing, leasing, and maintenance functions for residential, commercial, student housing, and community association managers.

In 2019, AppFolio expanded its portfolio with the acquisition of MyCase, a web-based legal practice management platform for small to mid-size law firms.