AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Sells $697,094.16 in Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 2,968 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $234.87, for a total value of $697,094.16. Following the sale, the insider now owns 24,500 shares in the company, valued at approximately $5,754,315. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

AppFolio Stock Performance

AppFolio stock opened at $231.99 on Friday. AppFolio, Inc. has a 1 year low of $164.29 and a 1 year high of $274.56. The firm has a 50 day moving average price of $236.76 and a 200 day moving average price of $234.06. The company has a market cap of $8.40 billion, a price-to-earnings ratio of 112.07 and a beta of 0.81.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Thursday, July 25th. The software maker reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.16. The company had revenue of $197.38 million during the quarter, compared to analysts’ expectations of $190.57 million. AppFolio had a net margin of 17.32% and a return on equity of 27.39%. The business’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.53) EPS. Sell-side analysts predict that AppFolio, Inc. will post 2.99 EPS for the current year.

Institutional Investors Weigh In On AppFolio

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in AppFolio by 17.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,369 shares of the software maker’s stock worth $757,000 after buying an additional 648 shares during the period. Handelsbanken Fonder AB boosted its position in AppFolio by 38.5% in the 4th quarter. Handelsbanken Fonder AB now owns 3,600 shares of the software maker’s stock valued at $624,000 after buying an additional 1,000 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of AppFolio during the fourth quarter worth about $85,000. Russell Investments Group Ltd. lifted its stake in shares of AppFolio by 34.3% in the fourth quarter. Russell Investments Group Ltd. now owns 67,171 shares of the software maker’s stock worth $11,637,000 after acquiring an additional 17,161 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in AppFolio by 1,164.1% in the fourth quarter. Victory Capital Management Inc. now owns 70,042 shares of the software maker’s stock valued at $12,134,000 after purchasing an additional 64,501 shares during the last quarter. 62.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

APPF has been the topic of several recent research reports. StockNews.com downgraded AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Piper Sandler raised their price target on shares of AppFolio from $295.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. KeyCorp lifted their price target on shares of AppFolio from $275.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. JPMorgan Chase & Co. upped their price objective on shares of AppFolio from $260.00 to $328.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Finally, DA Davidson raised their target price on shares of AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, AppFolio has a consensus rating of “Moderate Buy” and a consensus price target of $277.75.

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.