Insider Selling: AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Sells 1,059 Shares of Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 1,059 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $229.10, for a total value of $242,616.90. Following the completion of the transaction, the insider now directly owns 9,388 shares in the company, valued at approximately $2,150,790.80. The trade was a 10.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

AppFolio Price Performance

APPF opened at $242.39 on Friday. The firm has a market capitalization of $8.81 billion, a price-to-earnings ratio of 67.52 and a beta of 0.83. The company’s 50 day simple moving average is $222.54 and its two-hundred day simple moving average is $231.07. AppFolio, Inc. has a 1-year low of $164.29 and a 1-year high of $274.56.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Blue Trust Inc. grew its holdings in shares of AppFolio by 85.7% during the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock worth $29,000 after purchasing an additional 54 shares during the period. GAMMA Investing LLC increased its position in shares of AppFolio by 589.5% during the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock valued at $32,000 after acquiring an additional 112 shares during the last quarter. CWM LLC increased its position in shares of AppFolio by 238.6% during the second quarter. CWM LLC now owns 149 shares of the software maker’s stock valued at $36,000 after acquiring an additional 105 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of AppFolio by 291.3% during the first 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 last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of AppFolio by 688.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock valued at $52,000 after acquiring an additional 186 shares during the last quarter. Hedge funds and other institutional investors own 62.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. StockNews.com downgraded AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. DA Davidson increased their price target on AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods downgraded AppFolio from a “market perform” rating to an “underperform” rating and cut their price target for the stock from $255.00 to $193.00 in a research report on Tuesday, October 15th. KeyCorp cut their price target on 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 dropped their target price on AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. One investment 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.