AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Sells $1,273,636.00 in Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 5,200 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $244.93, for a total transaction of $1,273,636.00. Following the transaction, the insider now directly owns 20,491 shares in the company, valued at approximately $5,018,860.63. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

AppFolio Price Performance

NASDAQ APPF opened at $249.97 on Friday. The firm’s 50-day moving average is $237.73 and its two-hundred day moving average is $221.37. AppFolio, Inc. has a 12 month low of $164.29 and a 12 month high of $256.73. The stock has a market capitalization of $9.05 billion, a P/E ratio of 120.76 and a beta of 0.80.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, April 25th. The software maker reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.09. AppFolio had a net margin of 11.38% and a return on equity of 13.51%. The company had revenue of $187.43 million for the quarter, compared to analysts’ expectations of $173.66 million. As a group, analysts anticipate that AppFolio, Inc. will post 2.85 EPS for the current year.

Wall Street Analysts Forecast Growth

APPF has been the topic of several recent research reports. KeyCorp boosted 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. Piper Sandler initiated coverage on shares of AppFolio in a research report on Monday, June 10th. They set an “overweight” rating and a $295.00 price target on the stock. Finally, Keefe, Bruyette & Woods boosted 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 investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, AppFolio presently has an average rating of “Moderate Buy” and an average target price of $248.71.

Institutional Trading of AppFolio

A number of institutional investors and hedge funds have recently bought and sold shares of APPF. UBS Group AG increased 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 worth $2,234,000 after purchasing an additional 318 shares during the period. Envestnet Asset Management Inc. increased its stake in AppFolio by 66.3% during the third quarter. Envestnet Asset Management Inc. now owns 28,890 shares of the software maker’s stock worth $5,276,000 after purchasing an additional 11,523 shares during the period. Invesco Ltd. increased its stake in AppFolio by 13.5% during the third quarter. Invesco Ltd. now owns 68,638 shares of the software maker’s stock worth $12,535,000 after purchasing an additional 8,151 shares during the period. Hsbc Holdings PLC purchased a new stake in AppFolio during the third quarter worth about $395,000. Finally, Northern Trust Corp increased its stake in AppFolio by 1.1% during the third quarter. Northern Trust Corp now owns 202,348 shares of the software maker’s stock worth $36,955,000 after purchasing an additional 2,224 shares during the period. 62.34% of the stock is currently owned by hedge funds and other institutional investors.

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.