AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Maurice J. Duca Sells 2,577 Shares

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 2,577 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $250.75, for a total value of $646,182.75. Following the sale, the insider now directly owns 2,875 shares of the company’s stock, valued at $720,906.25. This represents a 47.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

AppFolio Stock Up 3.6 %

APPF stock traded up $8.67 during mid-day trading on Monday, reaching $251.06. 180,229 shares of the company traded hands, compared to its average volume of 274,449. The firm’s 50 day moving average price is $223.34 and its 200 day moving average price is $230.86. The stock has a market cap of $9.12 billion, a price-to-earnings ratio of 69.93 and a beta of 0.83. AppFolio, Inc. has a fifty-two week low of $164.29 and a fifty-two week high of $274.56.

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 the consensus estimate of $1.03 by $0.26. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The business had revenue of $206.00 million during the quarter, compared to the consensus estimate of $199.11 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. AppFolio’s revenue was up 24.5% compared to the same quarter last year. On average, analysts anticipate that AppFolio, Inc. will post 3.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Piper Sandler reduced their price objective on shares of AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. StockNews.com lowered shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. KeyCorp decreased their price target on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Finally, Keefe, Bruyette & Woods downgraded AppFolio from a “market perform” rating to an “underperform” rating and reduced their target price for the company from $255.00 to $193.00 in a research note on Tuesday, October 15th. One 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, AppFolio has an average rating of “Moderate Buy” and an average price target of $261.75.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Blue Trust Inc. increased its stake in AppFolio by 85.7% in the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock valued at $29,000 after buying an additional 54 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of AppFolio by 589.5% in 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 in 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. lifted its holdings in AppFolio by 291.3% during the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock worth $44,000 after acquiring an additional 134 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its position in AppFolio by 688.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock worth $52,000 after purchasing an additional 186 shares during the last quarter. 62.34% of the stock is owned by institutional investors.

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.