AppFolio (NASDAQ:APPF) Major Shareholder Maurice Duca Sells 3,500 Shares

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice Duca sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $193.05, for a total transaction of $675,675.00. Following the completion of the transaction, the insider owned 56,162 shares of the company’s stock, valued at $10,842,074.10. This trade represents a 5.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

AppFolio Stock Performance

APPF traded up $0.80 during mid-day trading on Monday, reaching $199.54. The stock had a trading volume of 504,187 shares, compared to its average volume of 395,354. The firm’s fifty day simple moving average is $169.70 and its two-hundred day simple moving average is $170.96. The stock has a market capitalization of $7.07 billion, a P/E ratio of 45.56 and a beta of 0.78. AppFolio, Inc. has a 52 week low of $142.56 and a 52 week high of $290.55.

AppFolio (NASDAQ:APPF) last released its earnings results on Thursday, July 23rd. The software maker reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.02. The company had revenue of $281.12 million during the quarter, compared to the consensus estimate of $277.35 million. AppFolio had a return on equity of 32.42% and a net margin of 15.13%.The firm’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.38 earnings per share. As a group, analysts expect that AppFolio, Inc. will post 5.16 EPS for the current fiscal year.

Institutional Investors Weigh In On AppFolio

Several hedge funds have recently bought and sold shares of the stock. M&T Bank Corp raised its position in AppFolio by 1,643.8% during the fourth quarter. M&T Bank Corp now owns 96,153 shares of the software maker’s stock valued at $22,370,000 after purchasing an additional 90,639 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of AppFolio by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 2,560,460 shares of the software maker’s stock valued at $595,691,000 after purchasing an additional 101,466 shares in the last quarter. Riverbridge Partners LLC bought a new position in shares of AppFolio in the 1st quarter valued at $13,906,000. Quantum Capital Management LLC NJ bought a new position in shares of AppFolio in the 4th quarter valued at $7,995,000. Finally, Principal Financial Group Inc. raised its holdings in shares of AppFolio by 6.8% during the 4th quarter. Principal Financial Group Inc. now owns 1,245,949 shares of the software maker’s stock worth $289,880,000 after buying an additional 79,197 shares in the last quarter. 85.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on APPF. Wall Street Zen downgraded shares of AppFolio from a “buy” rating to a “hold” rating in a research report on Sunday, July 26th. Guggenheim began coverage on AppFolio in a report on Wednesday, July 22nd. They issued a “buy” rating and a $232.00 price target on the stock. Piper Sandler decreased their price objective on AppFolio from $245.00 to $210.00 and set an “overweight” rating for the company in a report on Friday, April 24th. UBS Group set a $210.00 target price on AppFolio in a research report on Friday, April 24th. Finally, Benchmark boosted their target price on AppFolio from $222.00 to $226.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, AppFolio has an average rating of “Buy” and a consensus target price of $243.50.

AppFolio Company Profile

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.