Insider Selling: AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Sells $648,456.08 in Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 2,701 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $240.08, for a total value of $648,456.08. Following the sale, the insider now owns 5,452 shares in the company, valued at $1,308,916.16. The trade was a 33.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

AppFolio Price Performance

NASDAQ APPF opened at $254.82 on Thursday. The firm has a market cap of $9.26 billion, a P/E ratio of 70.52 and a beta of 0.83. The stock’s 50-day moving average is $223.87 and its 200-day moving average is $230.91. AppFolio, Inc. has a one year low of $164.29 and a one year high of $274.56.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.26. The company 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 revenue was up 24.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.26 earnings per share. Equities analysts anticipate that AppFolio, Inc. will post 3.23 EPS for the current year.

Wall Street Analyst Weigh In

APPF has been the topic of several research analyst reports. Piper Sandler decreased their target price on AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. KeyCorp cut their target price on AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. StockNews.com lowered AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Finally, Keefe, Bruyette & Woods lowered 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. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, AppFolio presently has an average rating of “Moderate Buy” and an average target price of $261.75.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Franklin Resources Inc. grew its holdings in shares of AppFolio by 31.2% during the third quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker’s stock worth $51,800,000 after buying an additional 54,386 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of AppFolio by 2.9% during the third quarter. Tidal Investments LLC now owns 1,425 shares of the software maker’s stock worth $335,000 after buying an additional 40 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of AppFolio during the third quarter worth about $687,000. Geode Capital Management LLC grew its holdings in shares of AppFolio by 8.6% during the third quarter. Geode Capital Management LLC now owns 413,032 shares of the software maker’s stock worth $97,252,000 after buying an additional 32,743 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of AppFolio by 20.5% during the third quarter. Barclays PLC now owns 9,888 shares of the software maker’s stock worth $2,327,000 after buying an additional 1,681 shares in the last quarter. 62.34% of the stock is currently owned by institutional investors.

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.