AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Maurice J. Duca Sells 2,700 Shares of Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 2,700 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $234.05, for a total value of $631,935.00. Following the transaction, the insider now directly owns 14,716 shares in the company, valued at approximately $3,444,279.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major 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 NASDAQ:APPF opened at $233.79 on Friday. The firm’s 50 day simple moving average is $230.66 and its 200-day simple moving average is $233.13. AppFolio, Inc. has a one year low of $164.29 and a one year high of $274.56. The firm has a market cap of $8.47 billion, a PE ratio of 112.94 and a beta of 0.81.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Thursday, July 25th. The software maker reported $1.12 EPS for the quarter, topping the consensus estimate of $0.96 by $0.16. AppFolio had a return on equity of 27.39% and a net margin of 17.32%. The company had revenue of $197.38 million for the quarter, compared to the consensus estimate of $190.57 million. During the same period last year, the business posted ($0.53) EPS. AppFolio’s quarterly revenue was up 34.2% on a year-over-year basis. Equities research analysts predict that AppFolio, Inc. will post 3.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in APPF. Vanguard Group Inc. raised its stake in AppFolio by 3.6% in the first quarter. Vanguard Group Inc. now owns 2,152,626 shares of the software maker’s stock worth $531,139,000 after buying an additional 73,965 shares in the last quarter. Gilder Gagnon Howe & Co. LLC raised its position in shares of AppFolio by 3.8% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 421,309 shares of the software maker’s stock worth $72,988,000 after acquiring an additional 15,283 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of AppFolio by 13.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 241,801 shares of the software maker’s stock worth $59,137,000 after purchasing an additional 28,673 shares during the last quarter. Driehaus Capital Management LLC boosted its position in AppFolio by 16.7% during the second quarter. Driehaus Capital Management LLC now owns 227,632 shares of the software maker’s stock valued at $55,672,000 after purchasing an additional 32,633 shares in the last quarter. Finally, Norges Bank purchased a new position in AppFolio in the fourth quarter valued at about $38,458,000. Hedge funds and other institutional investors own 62.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. StockNews.com lowered shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Piper Sandler lifted their price target on shares of AppFolio from $295.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Piper Sandler Companies reissued an “overweight” rating and issued a $300.00 price objective on shares of AppFolio in a research report on Friday, July 26th. DA Davidson boosted their target price on AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. increased their price target on AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $277.75.

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.