Maurice Duca Sells 3,500 Shares of AppFolio (NASDAQ:APPF) Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice Duca sold 3,500 shares of the business’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $193.05, for a total value of $675,675.00. Following the transaction, the insider owned 56,162 shares in the company, valued at $10,842,074.10. This represents a 5.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

AppFolio Stock Up 0.4%

Shares of APPF stock traded up $0.80 during mid-day trading on Monday, reaching $199.54. The stock had a trading volume of 504,187 shares, compared to its average volume of 395,354. The firm’s 50 day simple moving average is $169.70 and its 200 day simple moving average is $170.96. AppFolio, Inc. has a one year low of $142.56 and a one year high of $290.55. The firm has a market cap of $7.07 billion, a PE ratio of 45.56 and a beta of 0.78.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Thursday, July 23rd. The software maker reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.02. The business had revenue of $281.12 million for the quarter, compared to analysts’ expectations of $277.35 million. AppFolio had a return on equity of 32.42% and a net margin of 15.13%.AppFolio’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.38 earnings per share. Sell-side analysts forecast that AppFolio, Inc. will post 5.16 earnings per share for the current fiscal year.

Institutional Trading of AppFolio

Hedge funds and other institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC raised its holdings 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 valued at $26,000 after buying an additional 56 shares during the last quarter. Optiver Holding B.V. grew its holdings in AppFolio by 827.8% during the 1st quarter. Optiver Holding B.V. now owns 167 shares of the software maker’s stock worth $26,000 after acquiring an additional 149 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in 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 valued at about $55,000. Finally, Employees Retirement System of Texas bought a new position in shares of AppFolio in the third quarter worth about $58,000. 85.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Zacks Research upgraded shares of AppFolio from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. UBS Group set a $210.00 target price on shares of AppFolio in a research note on Friday, April 24th. Wall Street Zen lowered shares of AppFolio from a “buy” rating to a “hold” rating in a research report on Sunday, July 26th. Guggenheim assumed coverage on shares of AppFolio in a research note on Wednesday, July 22nd. They set a “buy” rating and a $232.00 price target for the company. Finally, KeyCorp reaffirmed an “overweight” rating on shares of AppFolio in a report on Monday, July 6th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $243.50.

About AppFolio

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.