Insider Selling: AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Sells 60 Shares of Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 60 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $254.48, for a total transaction of $15,268.80. Following the transaction, the insider now directly owns 5 shares of the company’s stock, valued at $1,272.40. The trade was a 92.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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

Shares of NASDAQ APPF traded down $0.58 during trading hours on Wednesday, hitting $254.82. 159,142 shares of the stock were exchanged, compared to its average volume of 273,466. The company’s 50 day moving average is $223.87 and its 200 day moving average is $230.91. The firm has a market capitalization of $9.26 billion, a P/E ratio of 70.52 and a beta of 0.83. AppFolio, Inc. has a one year low of $164.29 and a one 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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.26. The company had revenue of $206.00 million during the quarter, compared to analysts’ expectations of $199.11 million. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The business’s revenue was up 24.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.26 EPS. Research analysts anticipate that AppFolio, Inc. will post 3.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on APPF shares. Piper Sandler reduced their target price on shares of AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company in a research note 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. Keefe, Bruyette & Woods lowered shares of 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. Finally, KeyCorp reduced 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $261.75.

Institutional Investors Weigh In On AppFolio

Hedge funds have recently made changes to their positions in the company. Lazard Asset Management LLC increased its position in shares of AppFolio by 750.5% during the 1st quarter. Lazard Asset Management LLC now owns 9,211 shares of the software maker’s stock worth $2,271,000 after purchasing an additional 8,128 shares in the last quarter. Summit Global Investments bought a new stake in AppFolio during the 3rd quarter worth about $759,000. Gladius Capital Management LP bought a new stake in AppFolio during the 2nd quarter worth about $1,054,000. Baker Avenue Asset Management LP grew its holdings in AppFolio by 16.5% during the 3rd quarter. Baker Avenue Asset Management LP now owns 21,483 shares of the software maker’s stock worth $5,057,000 after acquiring an additional 3,038 shares during the last quarter. Finally, TD Asset Management Inc grew its holdings in AppFolio by 48.1% during the 2nd quarter. TD Asset Management Inc now owns 8,000 shares of the software maker’s stock worth $1,957,000 after acquiring an additional 2,600 shares during the last quarter. Institutional investors and hedge funds own 62.34% of the company’s stock.

AppFolio Company Profile

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.