AppFolio (NASDAQ:APPF) Major Shareholder Maurice Duca Sells 7,200 Shares

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice Duca sold 7,200 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $194.72, for a total transaction of $1,401,984.00. Following the completion of the sale, the insider directly owned 25,824 shares of the company’s stock, valued at $5,028,449.28. This trade represents a 21.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

AppFolio Price Performance

AppFolio stock traded up $1.11 during trading hours on Thursday, hitting $194.11. The company had a trading volume of 346,054 shares, compared to its average volume of 394,662. The firm has a market capitalization of $6.88 billion, a P/E ratio of 44.32 and a beta of 0.78. The firm’s fifty day moving average is $168.25 and its 200-day moving average is $171.27. AppFolio, Inc. has a fifty-two week low of $142.56 and a fifty-two week high of $315.31.

AppFolio (NASDAQ:APPF) last released its earnings results on Thursday, July 23rd. The software maker reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.02. The company had revenue of $281.12 million during the quarter, compared to the consensus estimate of $277.35 million. AppFolio had a net margin of 15.13% and a return on equity of 32.42%. The company’s revenue was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.38 EPS. Analysts anticipate that AppFolio, Inc. will post 5.16 earnings per share for the current year.

Analysts Set New Price Targets

APPF has been the subject of a number of research reports. Weiss Ratings cut AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. Guggenheim assumed coverage on AppFolio in a research note on Wednesday, July 22nd. They set a “buy” rating and a $232.00 price target for the company. Zacks Research upgraded AppFolio from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. UBS Group set a $210.00 price target on AppFolio in a research note on Friday, April 24th. Finally, Benchmark increased their price objective on AppFolio from $222.00 to $226.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, AppFolio currently has an average rating of “Buy” and an average price target of $243.50.

Institutional Investors Weigh In On AppFolio

Large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC lifted its position in shares of AppFolio by 101.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock worth $26,000 after buying an additional 56 shares during the last quarter. Optiver Holding B.V. raised its stake in shares of AppFolio by 827.8% in the 1st quarter. Optiver Holding B.V. now owns 167 shares of the software maker’s stock valued at $26,000 after acquiring an additional 149 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of AppFolio by 48.8% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker’s stock valued at $53,000 after acquiring an additional 63 shares in the last quarter. Advisory Services Network LLC acquired a new stake in AppFolio in the 3rd quarter worth approximately $55,000. Finally, Employees Retirement System of Texas bought a new stake in AppFolio during the third quarter worth approximately $58,000. 85.19% of the stock is currently owned by institutional investors.

AppFolio Company Profile

AppFolio, Inc is a Santa Barbara–based provider of cloud-based software solutions for the property management and legal industries. Founded in 2006 by former software executives, the company went public on the NASDAQ under the symbol APPF in 2015. Its original offering, AppFolio Property Manager, automates accounting, marketing, leasing, and maintenance functions for residential, commercial, student housing, and community association managers.

In 2019, AppFolio expanded its portfolio with the acquisition of MyCase, a web-based legal practice management platform for small to mid-size law firms.