AppFolio (NASDAQ:APPF) Major Shareholder Maurice Duca Sells 7,200 Shares of Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice Duca sold 7,200 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $217.77, for a total value of $1,567,944.00. Following the completion of the transaction, the insider owned 8,224 shares of the company’s stock, valued at $1,790,940.48. This represents a 46.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

AppFolio Stock Performance

Shares of AppFolio stock opened at $225.10 on Tuesday. AppFolio, Inc. has a 52-week low of $142.56 and a 52-week high of $288.73. The firm has a market cap of $7.97 billion, a PE ratio of 51.39 and a beta of 0.78. The business’s 50 day simple moving average is $178.87 and its 200 day simple moving average is $170.90.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Weiss Ratings raised shares of AppFolio from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. KeyCorp reissued an “overweight” rating on shares of AppFolio in a research note on Monday, July 6th. Wall Street Zen cut AppFolio from a “buy” rating to a “hold” rating in a report on Sunday, July 26th. Guggenheim initiated coverage on AppFolio in a report on Wednesday, July 22nd. They set a “buy” rating and a $232.00 price target for the company. Finally, Zacks Research raised AppFolio from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 28th. Two equities 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 company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $243.50.

Institutional Trading of AppFolio

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its position in AppFolio by 101.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock worth $26,000 after buying an additional 56 shares in the last quarter. Optiver Holding B.V. grew its position in AppFolio by 827.8% during the 1st quarter. Optiver Holding B.V. now owns 167 shares of the software maker’s stock worth $26,000 after acquiring an additional 149 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of AppFolio by 48.8% in 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 during the period. Advisory Services Network LLC bought a new position in shares of AppFolio during the third quarter valued at about $55,000. Finally, Employees Retirement System of Texas bought a new position in AppFolio during the 3rd quarter valued at approximately $58,000. Institutional investors 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.