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

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 200 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $232.52, for a total value of $46,504.00. Following the completion of the sale, the insider now owns 27,568 shares of the company’s stock, valued at $6,410,111.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

AppFolio Stock Down 2.6 %

NASDAQ:APPF opened at $215.69 on Friday. The stock’s fifty day moving average is $241.56 and its two-hundred day moving average is $232.10. AppFolio, Inc. has a 52 week low of $164.29 and a 52 week high of $274.56. The stock has a market capitalization of $7.81 billion, a price-to-earnings ratio of 104.20 and a beta of 0.80.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Thursday, July 25th. The software maker reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.16. The business had revenue of $197.38 million for the quarter, compared to analysts’ expectations of $190.57 million. AppFolio had a return on equity of 27.39% and a net margin of 17.32%. The company’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.53) earnings per share. On average, sell-side analysts expect that AppFolio, Inc. will post 2.94 EPS for the current fiscal year.

Analysts Set New Price Targets

APPF has been the subject of a number of analyst reports. Piper Sandler upped their price target on AppFolio from $295.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Piper Sandler Companies reiterated an “overweight” rating and issued a $300.00 price objective on shares of AppFolio in a research report on Friday, July 26th. StockNews.com upgraded AppFolio from a “hold” rating to a “buy” rating in a research report on Friday, July 26th. DA Davidson increased their price objective on AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. increased their price objective on AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $277.75.

Institutional Trading of AppFolio

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC raised its stake in shares of 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 in the last quarter. CWM LLC raised its stake in shares of AppFolio by 238.6% in the second quarter. CWM LLC now owns 149 shares of the software maker’s stock valued at $36,000 after acquiring an additional 105 shares in the last quarter. Advisors Asset Management Inc. raised its stake 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 acquiring an additional 134 shares in the last quarter. USA Financial Formulas purchased a new position in AppFolio in the fourth quarter valued at $59,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in AppFolio in the fourth quarter valued at $64,000. 62.34% of the stock is currently owned by institutional investors and hedge funds.

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.