Maurice J. Duca Sells 2,510 Shares of AppFolio, Inc. (NASDAQ:APPF) Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 2,510 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $229.21, for a total value of $575,317.10. Following the transaction, the insider now owns 2,459 shares in the company, valued at approximately $563,627.39. This represents a 50.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

AppFolio Trading Up 2.5 %

NASDAQ:APPF opened at $236.47 on Friday. The stock has a fifty day moving average price of $222.54 and a 200 day moving average price of $231.07. The firm has a market cap of $8.59 billion, a PE ratio of 65.87 and a beta of 0.83. AppFolio, Inc. has a 12-month low of $164.29 and a 12-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, beating the consensus estimate of $1.03 by $0.26. The business had revenue of $206.00 million during the quarter, compared to the consensus estimate of $199.11 million. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The business’s quarterly revenue was up 24.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.26 EPS. Equities analysts forecast that AppFolio, Inc. will post 3.23 EPS for the current year.

Institutional Investors Weigh In On AppFolio

Large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its position in AppFolio by 8.6% during the 3rd quarter. Geode Capital Management LLC now owns 413,032 shares of the software maker’s stock worth $97,252,000 after purchasing an additional 32,743 shares during the period. Barclays PLC raised its stake in 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 acquiring an additional 1,681 shares during the period. Public Employees Retirement System of Ohio lifted its stake in AppFolio by 5.3% in the third quarter. Public Employees Retirement System of Ohio now owns 8,824 shares of the software maker’s stock valued at $2,077,000 after buying an additional 442 shares during the last quarter. Main Management ETF Advisors LLC acquired a new position in shares of AppFolio during the third quarter worth approximately $731,000. Finally, Zacks Investment Management raised its stake in shares of AppFolio by 9.0% during the third quarter. Zacks Investment Management now owns 8,905 shares of the software maker’s stock valued at $2,096,000 after purchasing an additional 732 shares in the last quarter. 62.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on APPF. Keefe, Bruyette & Woods downgraded AppFolio from a “market perform” rating to an “underperform” rating and cut their price target for the company from $255.00 to $193.00 in a research note on Tuesday, October 15th. Piper Sandler cut 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. KeyCorp cut their price objective 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 Companies reiterated an “overweight” rating and set a $300.00 target price on shares of AppFolio in a research report on Friday, July 26th. Finally, StockNews.com lowered shares of AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. One 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’s stock. According to MarketBeat.com, the company presently has an average 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.