AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Maurice J. Duca Sells 4,462 Shares

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 4,462 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $261.19, for a total value of $1,165,429.78. Following the sale, the insider now directly owns 49,784 shares in the company, valued at $13,003,082.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

AppFolio Trading Up 1.0 %

AppFolio stock traded up $2.47 during mid-day trading on Thursday, reaching $259.07. The company had a trading volume of 571,048 shares, compared to its average volume of 301,720. AppFolio, Inc. has a fifty-two week low of $164.29 and a fifty-two week high of $274.56. The company has a market cap of $9.38 billion, a P/E ratio of 125.16 and a beta of 0.80. The business has a fifty day simple moving average of $242.72 and a 200 day simple moving average of $230.34.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Thursday, April 25th. The software maker reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.09. The company had revenue of $187.43 million for the quarter, compared to the consensus estimate of $173.66 million. AppFolio had a return on equity of 13.51% and a net margin of 11.38%. Research analysts forecast that AppFolio, Inc. will post 2.85 EPS for the current year.

Institutional Trading of AppFolio

A number of hedge funds have recently made changes to their positions in the company. Verdence Capital Advisors LLC increased its stake in shares of AppFolio by 2.7% in the fourth quarter. Verdence Capital Advisors LLC now owns 2,114 shares of the software maker’s stock valued at $366,000 after buying an additional 55 shares during the period. CWM LLC grew its holdings in AppFolio by 238.6% during the 2nd quarter. CWM LLC now owns 149 shares of the software maker’s stock worth $36,000 after acquiring an additional 105 shares during the last quarter. GAMMA Investing LLC grew its holdings in AppFolio by 589.5% during the 2nd quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after acquiring an additional 112 shares during the last quarter. Advisors Asset Management Inc. increased its position in 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, Zeno Equity Partners LLP acquired a new position in shares of AppFolio during the fourth quarter worth $30,000. 62.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on APPF shares. KeyCorp upped their price objective on shares of AppFolio from $264.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Keefe, Bruyette & Woods upped their price target on shares of AppFolio from $215.00 to $238.00 and gave the stock a “market perform” rating in a report on Friday, April 26th. JPMorgan Chase & Co. increased their price target on shares of AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Piper Sandler restated an “overweight” rating and set a $295.00 price objective on shares of AppFolio in a research report on Friday, July 12th. Finally, Stephens reaffirmed an “overweight” rating and issued a $241.00 target price on shares of AppFolio in a report on Friday, April 26th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $261.71.

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.