AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Maurice J. Duca Sells 500 Shares

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 500 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $232.59, for a total transaction of $116,295.00. Following the completion of the transaction, the insider now directly owns 22,997 shares in the company, valued at approximately $5,348,872.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

AppFolio Stock Down 1.6 %

Shares of NASDAQ APPF traded down $3.66 during mid-day trading on Wednesday, hitting $229.22. 174,422 shares of the company traded hands, compared to its average volume of 294,253. AppFolio, Inc. has a 1 year low of $164.29 and a 1 year high of $274.56. The stock has a market capitalization of $8.30 billion, a price-to-earnings ratio of 110.73 and a beta of 0.81. The business has a 50 day moving average of $236.80 and a two-hundred day moving average of $234.12.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings data on Thursday, July 25th. The software maker reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.16. AppFolio had a net margin of 17.32% and a return on equity of 27.39%. The company had revenue of $197.38 million during the quarter, compared to analyst estimates of $190.57 million. During the same period in the prior year, the firm earned ($0.53) earnings per share. The business’s quarterly revenue was up 34.2% on a year-over-year basis. As a group, research analysts anticipate that AppFolio, Inc. will post 2.99 EPS for the current year.

Institutional Trading of AppFolio

Several large investors have recently added to or reduced their stakes in APPF. American International Group Inc. raised its position in AppFolio by 280.7% during the first quarter. American International Group Inc. now owns 36,367 shares of the software maker’s stock valued at $8,973,000 after buying an additional 26,815 shares during the period. Texas Permanent School Fund Corp acquired a new position in shares of AppFolio in the 1st quarter valued at about $4,415,000. Oberndorf William E purchased a new stake in shares of AppFolio in the fourth quarter worth approximately $3,020,000. Nebula Research & Development LLC lifted its position in shares of AppFolio by 554.5% in the fourth quarter. Nebula Research & Development LLC now owns 9,039 shares of the software maker’s stock worth $1,566,000 after purchasing an additional 7,658 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its holdings in shares of AppFolio by 223.5% during the first quarter. Ameritas Investment Partners Inc. now owns 6,434 shares of the software maker’s stock worth $1,588,000 after purchasing an additional 4,445 shares during the period. 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 research reports. StockNews.com downgraded AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Piper Sandler Companies restated an “overweight” rating and set a $300.00 price target on shares of AppFolio in a research report on Friday, July 26th. DA Davidson raised their price objective on shares of AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. lifted their price target on AppFolio from $260.00 to $328.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Finally, KeyCorp upped their price objective on AppFolio from $275.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $277.75.

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.