AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Maurice J. Duca Sells 3,000 Shares

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 3,000 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $243.15, for a total transaction of $729,450.00. Following the completion of the transaction, the insider now directly owns 17,491 shares of the company’s stock, valued at approximately $4,252,936.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

AppFolio Trading Up 1.6 %

NASDAQ APPF opened at $247.16 on Wednesday. The firm has a market cap of $8.95 billion, a price-to-earnings ratio of 119.40 and a beta of 0.80. The company has a 50 day moving average of $236.38 and a 200-day moving average of $220.96. AppFolio, Inc. has a 1-year low of $164.29 and a 1-year high of $256.73.

AppFolio (NASDAQ:APPF) last issued 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 business had revenue of $187.43 million during the quarter, compared to analyst estimates of $173.66 million. AppFolio had a net margin of 11.38% and a return on equity of 13.51%. On average, analysts forecast that AppFolio, Inc. will post 2.85 earnings per share for the current year.

Institutional Trading of AppFolio

A number of hedge funds and other institutional investors have recently modified their holdings of APPF. Zeno Equity Partners LLP acquired a new stake in shares of AppFolio in the fourth quarter valued at approximately $30,000. GAMMA Investing LLC boosted its stake in AppFolio by 589.5% in the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock valued at $32,000 after acquiring an additional 112 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in 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 acquiring an additional 134 shares during the last quarter. USA Financial Formulas bought a new position in AppFolio in the fourth quarter valued at approximately $59,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in AppFolio in the fourth quarter valued at approximately $64,000. Institutional investors and hedge funds own 62.34% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Stephens reissued an “overweight” rating and issued a $241.00 price target on shares of AppFolio in a research report on Friday, April 26th. Piper Sandler assumed coverage on shares of AppFolio in a research report on Monday, June 10th. They issued an “overweight” rating and a $295.00 price target for the company. KeyCorp increased their price target on shares of AppFolio from $264.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Finally, 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. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $248.71.

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.