Maurice J. Duca Sells 60 Shares of AppFolio, Inc. (NASDAQ:APPF) Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 60 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $254.48, for a total value of $15,268.80. Following the transaction, the insider now directly owns 5 shares in the company, valued at approximately $1,272.40. This represents a 92.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

AppFolio Stock Down 0.2 %

Shares of APPF stock traded down $0.58 during mid-day trading on Wednesday, reaching $254.82. The company’s stock had a trading volume of 159,142 shares, compared to its average volume of 273,466. The company’s 50 day simple moving average is $223.87 and its 200-day simple moving average is $230.91. AppFolio, Inc. has a 12-month low of $164.29 and a 12-month high of $274.56. The firm has a market capitalization of $9.26 billion, a PE ratio of 70.52 and a beta of 0.83.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in APPF. Squarepoint Ops LLC grew its holdings in AppFolio by 188.2% during the 2nd quarter. Squarepoint Ops LLC now owns 185,034 shares of the software maker’s stock worth $45,254,000 after acquiring an additional 120,835 shares in the last quarter. Westwind Capital grew its position in shares of AppFolio by 301.0% during the 2nd quarter. Westwind Capital now owns 149,240 shares of the software maker’s stock valued at $3,650,000 after buying an additional 112,024 shares during the last quarter. Los Angeles Capital Management LLC grew its position in shares of AppFolio by 516.6% during the 2nd quarter. Los Angeles Capital Management LLC now owns 109,850 shares of the software maker’s stock valued at $26,866,000 after buying an additional 92,034 shares during the last quarter. FMR LLC grew its position in shares of AppFolio by 998.0% during the 3rd quarter. FMR LLC now owns 60,894 shares of the software maker’s stock valued at $14,334,000 after buying an additional 55,348 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of AppFolio by 31.2% during the 3rd quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker’s stock valued at $51,800,000 after buying an additional 54,386 shares during the last quarter. 62.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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