AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Maurice J. Duca Sells 2,100 Shares

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 2,100 shares of AppFolio stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $231.20, for a total transaction of $485,520.00. Following the transaction, the insider now owns 55,000 shares of the company’s stock, valued at $12,716,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

AppFolio Stock Performance

Shares of APPF stock opened at $231.76 on Wednesday. The firm has a market cap of $8.39 billion, a price-to-earnings ratio of 111.96 and a beta of 0.80. AppFolio, Inc. has a 52 week low of $162.32 and a 52 week high of $256.73. The firm’s 50-day simple moving average is $232.05 and its two-hundred day simple moving average is $217.14.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Thursday, April 25th. The software maker reported $0.68 EPS for the quarter, topping the consensus estimate of $0.59 by $0.09. AppFolio had a net margin of 11.38% and a return on equity of 13.51%. The business had revenue of $187.43 million for the quarter, compared to analyst estimates of $173.66 million. Analysts forecast that AppFolio, Inc. will post 2.85 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on APPF. Piper Sandler assumed coverage on shares of AppFolio in a report on Monday, June 10th. They set an “overweight” rating and a $295.00 price objective for the company. KeyCorp raised their price target on shares of AppFolio from $264.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Stephens reissued an “overweight” rating and set a $241.00 price target on shares of AppFolio in a research report on Friday, April 26th. Finally, Keefe, Bruyette & Woods raised their price target on shares of AppFolio from $215.00 to $238.00 and gave the company a “market perform” rating in a research report on Friday, April 26th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, AppFolio has an average rating of “Moderate Buy” and a consensus price target of $248.71.

Institutional Trading of AppFolio

Several hedge funds and other institutional investors have recently modified their holdings of APPF. Charles Schwab Investment Management Inc. raised its position in shares of AppFolio by 4.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 150,073 shares of the software maker’s stock valued at $27,408,000 after purchasing an additional 7,054 shares during the period. Pathstone Family Office LLC purchased a new position in AppFolio during the third quarter valued at approximately $260,000. UBS Group AG grew its stake in AppFolio by 2.7% during the third quarter. UBS Group AG now owns 12,232 shares of the software maker’s stock valued at $2,234,000 after acquiring an additional 318 shares in the last quarter. Deutsche Bank AG grew its stake in AppFolio by 13.9% during the third quarter. Deutsche Bank AG now owns 10,209 shares of the software maker’s stock valued at $1,864,000 after acquiring an additional 1,245 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in AppFolio by 1.2% during the third quarter. Rhumbline Advisers now owns 27,494 shares of the software maker’s stock valued at $5,021,000 after acquiring an additional 319 shares in the last quarter. Institutional investors own 62.34% of the company’s stock.

About AppFolio

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.