Insider Selling: AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Sells 2,577 Shares of Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 2,577 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $250.75, for a total value of $646,182.75. Following the sale, the insider now owns 2,875 shares of the company’s stock, valued at approximately $720,906.25. The trade was a 47.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

AppFolio Stock Up 3.6 %

Shares of NASDAQ APPF traded up $8.67 during midday trading on Monday, reaching $251.06. 180,229 shares of the company were exchanged, compared to its average volume of 274,449. AppFolio, Inc. has a one year low of $164.29 and a one year high of $274.56. The stock has a market cap of $9.12 billion, a P/E ratio of 69.93 and a beta of 0.83. The stock’s 50-day moving average price is $223.34 and its 200-day moving average price is $230.86.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data 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. The business had revenue of $206.00 million for the quarter, compared to analyst estimates of $199.11 million. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. AppFolio’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 EPS. On average, equities research analysts anticipate that AppFolio, Inc. will post 3.23 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Lazard Asset Management LLC grew its position in shares of AppFolio by 750.5% in the 1st quarter. Lazard Asset Management LLC now owns 9,211 shares of the software maker’s stock valued at $2,271,000 after buying an additional 8,128 shares during the last quarter. Summit Global Investments acquired a new stake in AppFolio during the 3rd quarter valued at approximately $759,000. Gladius Capital Management LP bought a new position in AppFolio during the 2nd quarter worth approximately $1,054,000. Baker Avenue Asset Management LP lifted its position in shares of AppFolio by 16.5% in the 3rd quarter. Baker Avenue Asset Management LP now owns 21,483 shares of the software maker’s stock worth $5,057,000 after purchasing an additional 3,038 shares during the period. Finally, TD Asset Management Inc boosted its stake in shares of AppFolio by 48.1% in the 2nd quarter. TD Asset Management Inc now owns 8,000 shares of the software maker’s stock valued at $1,957,000 after purchasing an additional 2,600 shares during the last quarter. Institutional investors and hedge funds own 62.34% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on APPF. Keefe, Bruyette & Woods downgraded shares of AppFolio from a “market perform” rating to an “underperform” rating and reduced their price objective for the stock from $255.00 to $193.00 in a research note on Tuesday, October 15th. KeyCorp reduced their price target on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Piper Sandler cut their target price on AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Finally, StockNews.com lowered AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $261.75.

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.