Maurice J. Duca Sells 2,701 Shares of AppFolio, Inc. (NASDAQ:APPF) Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 2,701 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $240.08, for a total value of $648,456.08. Following the completion of the sale, the insider now directly owns 5,452 shares of the company’s stock, valued at approximately $1,308,916.16. The trade was a 33.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

AppFolio Trading Down 0.2 %

NASDAQ:APPF opened at $254.82 on Thursday. The stock has a market cap of $9.26 billion, a P/E ratio of 70.52 and a beta of 0.83. The stock has a 50 day simple moving average of $223.87 and a 200 day simple moving average of $230.91. AppFolio, Inc. has a 1-year low of $164.29 and a 1-year high of $274.56.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.26. The firm had revenue of $206.00 million during the quarter, compared to analysts’ expectations of $199.11 million. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The company’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.26 EPS. As a group, sell-side analysts forecast that AppFolio, Inc. will post 3.23 EPS for the current year.

Hedge Funds Weigh In On AppFolio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in APPF. Blue Trust Inc. raised its holdings 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 acquiring an additional 54 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of AppFolio by 589.5% in the 2nd quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock valued at $32,000 after purchasing an additional 112 shares during the last quarter. CWM LLC increased its stake in shares of AppFolio by 238.6% in the 2nd quarter. CWM LLC now owns 149 shares of the software maker’s stock valued at $36,000 after purchasing an additional 105 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of AppFolio by 291.3% in the 1st quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock valued at $44,000 after purchasing an additional 134 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of AppFolio by 688.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock valued at $52,000 after purchasing an additional 186 shares during the last quarter. 62.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

APPF has been the subject of a number of recent analyst reports. KeyCorp cut their price objective on AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. StockNews.com cut AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Keefe, Bruyette & Woods cut AppFolio from a “market perform” rating to an “underperform” rating and cut their price objective for the company from $255.00 to $193.00 in a research report on Tuesday, October 15th. Finally, Piper Sandler cut their price objective on AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, AppFolio currently has a consensus rating of “Moderate Buy” and a consensus 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.