AppFolio (NASDAQ:APPF) Major Shareholder Sells 1,800 Shares of Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice Duca sold 1,800 shares of AppFolio stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $180.00, for a total transaction of $324,000.00. Following the sale, the insider directly owned 35,798 shares of the company’s stock, valued at $6,443,640. This represents a 4.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

AppFolio Trading Up 9.6%

Shares of NASDAQ APPF traded up $16.21 during trading hours on Tuesday, reaching $184.96. The stock had a trading volume of 186,873 shares, compared to its average volume of 390,615. AppFolio, Inc. has a 52-week low of $142.56 and a 52-week high of $326.04. The firm has a market cap of $6.54 billion, a price-to-earnings ratio of 42.23 and a beta of 0.79. The business’s fifty day moving average price is $164.98 and its two-hundred day moving average price is $173.02.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Thursday, July 23rd. The software maker reported $1.71 EPS for the quarter, topping the consensus estimate of $1.69 by $0.02. The company had revenue of $281.12 million for 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%.AppFolio’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period last year, the business posted $1.38 EPS. Equities research analysts anticipate that AppFolio, Inc. will post 5.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of APPF. EverSource Wealth Advisors LLC boosted its stake in AppFolio by 101.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock valued at $26,000 after acquiring an additional 56 shares in the last quarter. Optiver Holding B.V. grew its holdings in AppFolio by 827.8% in the first quarter. Optiver Holding B.V. now owns 167 shares of the software maker’s stock worth $26,000 after purchasing an additional 149 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in AppFolio by 48.8% during the 3rd 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 last quarter. Advisory Services Network LLC purchased a new position in AppFolio during the 3rd quarter worth $55,000. Finally, Employees Retirement System of Texas purchased a new position in AppFolio during the 3rd quarter worth $58,000. Institutional investors own 85.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on APPF shares. Wall Street Zen cut shares of AppFolio from a “buy” rating to a “hold” rating in a research report on Sunday. Weiss Ratings lowered AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. UBS Group set a $210.00 price target on AppFolio in a report on Friday, April 24th. Piper Sandler reduced their price target on AppFolio from $245.00 to $210.00 and set an “overweight” rating for the company in a research report on Friday, April 24th. Finally, KeyCorp restated an “overweight” rating on shares of AppFolio in a research note on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $243.50.

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.