Insider Selling: AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Sells $242,616.90 in Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 1,059 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $229.10, for a total value of $242,616.90. Following the sale, the insider now directly owns 9,388 shares in the company, valued at $2,150,790.80. The trade was a 10.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

AppFolio Stock Up 2.4 %

AppFolio stock opened at $242.39 on Friday. The business has a fifty day moving average of $222.54 and a two-hundred day moving average of $231.07. The firm has a market cap of $8.81 billion, a P/E ratio of 67.52 and a beta of 0.83. AppFolio, Inc. has a twelve month low of $164.29 and a twelve month high of $274.56.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.26. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The company had revenue of $206.00 million during the quarter, compared to analyst estimates of $199.11 million. During the same quarter in the prior year, the business earned $0.26 earnings per share. AppFolio’s revenue was up 24.5% on a year-over-year basis. Equities analysts expect that AppFolio, Inc. will post 3.23 earnings per share for the current year.

Institutional Trading of AppFolio

Hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. lifted its holdings in shares of AppFolio by 85.7% during the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock valued at $29,000 after purchasing an additional 54 shares during the last quarter. GAMMA Investing LLC increased its position in shares of AppFolio by 589.5% in the 2nd quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock valued at $32,000 after acquiring an additional 112 shares during the period. CWM LLC increased its position in shares of AppFolio by 238.6% in the 2nd quarter. CWM LLC now owns 149 shares of the software maker’s stock valued at $36,000 after acquiring an additional 105 shares during the period. Advisors Asset Management Inc. increased its position in shares of AppFolio by 291.3% in the 1st 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 during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of AppFolio by 688.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock valued at $52,000 after acquiring an additional 186 shares during the period. Hedge funds and other institutional investors own 62.34% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on APPF shares. StockNews.com cut AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Keefe, Bruyette & Woods cut AppFolio from a “market perform” rating to an “underperform” rating and cut their target price for the company from $255.00 to $193.00 in a research note on Tuesday, October 15th. KeyCorp lowered their price target on AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a report on Friday, October 25th. DA Davidson boosted their price target on AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Piper Sandler lowered their price target on AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $261.75.

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.