AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Maurice J. Duca Sells 200 Shares of Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 200 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $232.18, for a total value of $46,436.00. Following the sale, the insider now directly owns 18,922 shares in the company, valued at approximately $4,393,309.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

AppFolio Stock Performance

Shares of NASDAQ:APPF opened at $233.79 on Friday. AppFolio, Inc. has a 52-week low of $164.29 and a 52-week high of $274.56. The company has a market capitalization of $8.47 billion, a PE ratio of 112.94 and a beta of 0.81. The company has a fifty day moving average of $230.66 and a 200-day moving average of $233.13.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, July 25th. The software maker reported $1.12 EPS for the quarter, beating 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 firm had revenue of $197.38 million during the quarter, compared to the consensus estimate of $190.57 million. During the same period last year, the company earned ($0.53) earnings per share. The business’s quarterly revenue was up 34.2% on a year-over-year basis. On average, equities analysts forecast that AppFolio, Inc. will post 3.04 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on APPF shares. JPMorgan Chase & Co. increased their target price on AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. KeyCorp raised their target price on shares of AppFolio from $275.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, July 26th. StockNews.com downgraded shares of AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd. Piper Sandler increased their price target on shares of AppFolio from $295.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, DA Davidson boosted their price objective on shares of AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $277.75.

Hedge Funds Weigh In On AppFolio

Several large investors have recently modified their holdings of the business. Norges Bank bought a new stake in shares of AppFolio in the fourth quarter worth $38,458,000. Zeno Equity Partners LLP acquired a new position in AppFolio during the 4th quarter worth about $33,434,000. Principal Financial Group Inc. grew its position in shares of AppFolio by 2,359.8% in the 1st quarter. Principal Financial Group Inc. now owns 151,646 shares of the software maker’s stock valued at $37,417,000 after buying an additional 145,481 shares during the last quarter. Squarepoint Ops LLC increased its stake in shares of AppFolio by 188.2% in the second quarter. Squarepoint Ops LLC now owns 185,034 shares of the software maker’s stock valued at $45,254,000 after buying an additional 120,835 shares during the period. Finally, Westwind Capital increased its stake in shares of AppFolio by 301.0% in the second quarter. Westwind Capital now owns 149,240 shares of the software maker’s stock valued at $3,650,000 after buying an additional 112,024 shares during the period. 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.