AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Sells $575,317.10 in Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 2,510 shares of the company’s stock in a transaction on 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 directly owns 2,459 shares in the company, valued at $563,627.39. This trade represents a 50.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 Trading Up 2.5 %

APPF opened at $236.47 on Friday. The company has a market capitalization of $8.59 billion, a price-to-earnings 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. The business’s fifty day simple moving average is $222.54 and its 200-day simple moving average is $231.07.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.26. The firm had revenue of $206.00 million for the quarter, compared to the consensus estimate of $199.11 million. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The firm’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.26 earnings per share. On average, equities research analysts predict that AppFolio, Inc. will post 3.23 EPS for the current year.

Hedge Funds Weigh In On AppFolio

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in AppFolio by 3.6% in the first quarter. Vanguard Group Inc. now owns 2,152,626 shares of the software maker’s stock valued at $531,139,000 after purchasing an additional 73,965 shares during the period. State Street Corp grew its position in AppFolio by 8.2% during the third quarter. State Street Corp now owns 653,136 shares of the software maker’s stock valued at $153,748,000 after acquiring an additional 49,238 shares during the period. Geode Capital Management LLC raised its stake in shares of AppFolio by 8.6% in the 3rd quarter. Geode Capital Management LLC now owns 413,032 shares of the software maker’s stock valued at $97,252,000 after acquiring an additional 32,743 shares during the period. DF Dent & Co. Inc. lifted its position in AppFolio by 10.1% during the 3rd quarter. DF Dent & Co. Inc. now owns 351,691 shares of the software maker’s stock worth $82,788,000 after acquiring an additional 32,181 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in AppFolio by 13.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 241,801 shares of the software maker’s stock valued at $59,137,000 after buying an additional 28,673 shares during the last quarter. Hedge funds and other institutional investors own 62.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods lowered shares of AppFolio from a “market perform” rating to an “underperform” rating and dropped their price objective for the stock from $255.00 to $193.00 in a report on Tuesday, October 15th. StockNews.com cut AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. DA Davidson upped their price objective on AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, July 26th. KeyCorp dropped their target price 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. Finally, Piper Sandler Companies restated an “overweight” rating and set a $300.00 price target on shares of AppFolio in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $261.75.

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.