Maurice J. Duca Sells 3,205 Shares of AppFolio, Inc. (NASDAQ:APPF) Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 3,205 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $239.22, for a total value of $766,700.10. Following the completion of the transaction, the insider now owns 31,643 shares of the company’s stock, valued at $7,569,638.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

AppFolio Trading Down 1.7 %

NASDAQ APPF opened at $244.57 on Friday. AppFolio, Inc. has a 1-year low of $164.29 and a 1-year high of $256.73. The company has a 50 day moving average of $235.25 and a 200-day moving average of $219.51. The firm has a market cap of $8.86 billion, a price-to-earnings ratio of 118.15 and a beta of 0.80.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, April 25th. The software maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.09. The firm had revenue of $187.43 million during the quarter, compared to analysts’ expectations of $173.66 million. AppFolio had a return on equity of 13.51% and a net margin of 11.38%. On average, analysts forecast that AppFolio, Inc. will post 2.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Piper Sandler started coverage on shares of AppFolio in a report on Monday, June 10th. They issued an “overweight” rating and a $295.00 price target on the stock. Keefe, Bruyette & Woods increased their price target on shares of AppFolio from $215.00 to $238.00 and gave the stock a “market perform” rating in a research report on Friday, April 26th. Stephens reaffirmed an “overweight” rating and set a $241.00 price objective on shares of AppFolio in a report on Friday, April 26th. Finally, KeyCorp upped their price objective on AppFolio from $264.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $248.71.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in APPF. Zeno Equity Partners LLP acquired a new stake in AppFolio in the 4th quarter valued at about $30,000. Advisors Asset Management Inc. increased its holdings in shares of AppFolio by 291.3% in the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock valued at $44,000 after purchasing an additional 134 shares in the last quarter. USA Financial Formulas bought a new position in AppFolio in the 4th quarter worth approximately $59,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in AppFolio during the 4th quarter worth $64,000. Finally, Meeder Asset Management Inc. acquired a new position in AppFolio during the 4th quarter worth $85,000. 62.34% of the stock is owned by institutional investors.

AppFolio Company Profile

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.