Insider Selling: AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Sells $631,935.00 in Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 2,700 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $234.05, for a total transaction of $631,935.00. Following the completion of the sale, the insider now owns 14,716 shares in the company, valued at $3,444,279.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

AppFolio Trading Up 0.8 %

AppFolio stock opened at $233.79 on Monday. The company has a market cap of $8.47 billion, a P/E ratio of 112.94 and a beta of 0.81. AppFolio, Inc. has a 1-year low of $164.29 and a 1-year high of $274.56. The company has a fifty day simple moving average of $230.66 and a 200 day simple moving average of $233.21.

AppFolio (NASDAQ:APPF) last released its earnings results on Thursday, July 25th. The software maker reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.16. The business had revenue of $197.38 million during the quarter, compared to the consensus estimate of $190.57 million. AppFolio had a net margin of 17.32% and a return on equity of 27.39%. The firm’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.53) earnings per share. On average, equities research analysts forecast that AppFolio, Inc. will post 3.04 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Private Advisor Group LLC grew its position in shares of AppFolio by 19.9% in the 4th quarter. Private Advisor Group LLC now owns 2,100 shares of the software maker’s stock valued at $364,000 after acquiring an additional 348 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of AppFolio by 13.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 170,239 shares of the software maker’s stock valued at $29,492,000 after acquiring an additional 20,166 shares during the period. Principal Financial Group Inc. grew its position in shares of AppFolio by 12.3% in the 4th quarter. Principal Financial Group Inc. now owns 6,165 shares of the software maker’s stock valued at $1,068,000 after acquiring an additional 673 shares during the period. Norges Bank bought a new position in shares of AppFolio in the 4th quarter valued at about $38,458,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of AppFolio in the 4th quarter valued at about $64,000. Institutional investors own 62.34% of the company’s stock.

Analyst Ratings Changes

APPF has been the topic of several analyst reports. Piper Sandler Companies reiterated an “overweight” rating and issued a $300.00 target price on shares of AppFolio in a report on Friday, July 26th. JPMorgan Chase & Co. increased their price objective on shares of AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. KeyCorp increased their price objective on shares of AppFolio from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Piper Sandler increased their price objective 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, StockNews.com downgraded shares of AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $277.75.

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.