AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Maurice J. Duca Sells 200 Shares

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 200 shares of AppFolio stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $232.52, for a total transaction of $46,504.00. Following the sale, the insider now owns 27,568 shares of the company’s stock, valued at approximately $6,410,111.36. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

AppFolio Price Performance

APPF traded down $9.49 during trading on Tuesday, reaching $219.53. The company had a trading volume of 453,994 shares, compared to its average volume of 307,782. AppFolio, Inc. has a 12 month low of $164.29 and a 12 month high of $274.56. The business’s fifty day moving average price is $241.87 and its 200 day moving average price is $232.18. The company has a market cap of $7.95 billion, a P/E ratio of 106.05 and a beta of 0.80.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, July 25th. The software maker reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.16. AppFolio had a net margin of 17.32% and a return on equity of 27.39%. The firm had revenue of $197.38 million for the quarter, compared to analyst estimates of $190.57 million. During the same quarter in the previous year, the firm posted ($0.53) earnings per share. The business’s revenue was up 34.2% on a year-over-year basis. As a group, sell-side analysts predict that AppFolio, Inc. will post 2.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of APPF. Norges Bank bought a new stake in shares of AppFolio in the fourth quarter worth $38,458,000. Zeno Equity Partners LLP bought a new stake in shares of AppFolio in the fourth quarter worth $33,434,000. Principal Financial Group Inc. lifted its position in shares of AppFolio by 2,359.8% in the first quarter. Principal Financial Group Inc. now owns 151,646 shares of the software maker’s stock worth $37,417,000 after purchasing an additional 145,481 shares in the last quarter. Assenagon Asset Management S.A. raised its position in AppFolio by 344.7% during the first quarter. Assenagon Asset Management S.A. now owns 155,127 shares of the software maker’s stock worth $38,276,000 after acquiring an additional 120,246 shares in the last quarter. Finally, Westwind Capital raised its position in AppFolio by 301.0% during the second quarter. Westwind Capital now owns 149,240 shares of the software maker’s stock worth $3,650,000 after acquiring an additional 112,024 shares in the last quarter. Institutional investors own 62.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. StockNews.com upgraded shares of AppFolio from a “hold” rating to a “buy” rating in a research report on Friday. Keefe, Bruyette & Woods boosted their price objective on shares of AppFolio from $215.00 to $238.00 and gave the company a “market perform” rating in a report on Friday, April 26th. DA Davidson boosted their price objective on shares of AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a report on Friday. Piper Sandler Companies restated an “overweight” rating and set a $300.00 price objective on shares of AppFolio in a report on Friday. Finally, KeyCorp boosted their price objective on shares of AppFolio from $275.00 to $300.00 and gave the company an “overweight” rating in a report on Friday. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, AppFolio has an average rating of “Moderate Buy” and an average target price of $277.75.

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.