Insider Selling: AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Sells $46,504.00 in Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 200 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $232.52, for a total value of $46,504.00. Following the completion of the transaction, the insider now directly owns 27,568 shares in the company, valued at approximately $6,410,111.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

AppFolio Trading Down 2.6 %

NASDAQ:APPF opened at $215.69 on Friday. AppFolio, Inc. has a 12-month low of $164.29 and a 12-month high of $274.56. The stock has a 50-day moving average price of $241.56 and a 200 day moving average price of $232.10. The stock has a market capitalization of $7.81 billion, a P/E ratio of 104.20 and a beta of 0.80.

AppFolio (NASDAQ:APPF) last released its earnings results on Thursday, July 25th. The software maker reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.16. AppFolio had a return on equity of 27.39% and a net margin of 17.32%. The firm had revenue of $197.38 million during the quarter, compared to analysts’ expectations of $190.57 million. During the same quarter last year, the business posted ($0.53) earnings per share. The firm’s revenue was up 34.2% on a year-over-year basis. On average, research analysts predict that AppFolio, Inc. will post 2.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Stephens reissued an “overweight” rating and issued a $241.00 target price on shares of AppFolio in a report on Friday, April 26th. Piper Sandler increased their target price on AppFolio from $295.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Piper Sandler Companies reissued an “overweight” rating and issued a $300.00 target price on shares of AppFolio in a report on Friday, July 26th. DA Davidson increased their target price on AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, KeyCorp upped their price target on AppFolio from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, AppFolio presently has a consensus rating of “Moderate Buy” and a consensus price target of $277.75.

Institutional Trading of AppFolio

Institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC grew its position in shares of AppFolio by 589.5% during the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after purchasing an additional 112 shares in the last quarter. CWM LLC grew its holdings in AppFolio by 238.6% during the 2nd quarter. CWM LLC now owns 149 shares of the software maker’s stock valued at $36,000 after buying an additional 105 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in AppFolio by 291.3% during the 1st quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock valued at $44,000 after buying an additional 134 shares in the last quarter. USA Financial Formulas purchased a new position in AppFolio during the 4th quarter valued at approximately $59,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in AppFolio during the 4th quarter valued at approximately $64,000. Hedge funds and other institutional investors 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.