AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Maurice J. Duca Sells 11,627 Shares

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 11,627 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $240.08, for a total transaction of $2,791,410.16. Following the completion of the sale, the insider now directly owns 27,768 shares of the company’s stock, valued at approximately $6,666,541.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

AppFolio Stock Performance

Shares of APPF opened at $210.59 on Friday. The company’s 50-day simple moving average is $240.78 and its 200-day simple moving average is $232.20. 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 $7.63 billion, a PE ratio of 101.73 and a beta of 0.81.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Thursday, July 25th. The software maker reported $1.12 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $190.57 million. During the same quarter last year, the company posted ($0.53) EPS. The firm’s revenue was up 34.2% compared to the same quarter last year. On average, sell-side analysts predict that AppFolio, Inc. will post 2.99 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of APPF. Allspring Global Investments Holdings LLC boosted its stake in shares of AppFolio by 497.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 43,552 shares of the software maker’s stock valued at $7,545,000 after buying an additional 36,265 shares during the period. American International Group Inc. grew its position in AppFolio by 280.7% during the 1st quarter. American International Group Inc. now owns 36,367 shares of the software maker’s stock worth $8,973,000 after purchasing an additional 26,815 shares during the last quarter. Texas Permanent School Fund Corp acquired a new position in AppFolio in the first quarter valued at $4,415,000. Long Walk Management LP raised its holdings in shares of AppFolio by 62.7% in the fourth quarter. Long Walk Management LP now owns 122,000 shares of the software maker’s stock valued at $21,135,000 after buying an additional 47,000 shares during the last quarter. Finally, Oberndorf William E acquired a new stake in shares of AppFolio during the fourth quarter worth about $3,020,000. 62.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

APPF has been the topic of a number of recent analyst reports. Piper Sandler Companies reiterated an “overweight” rating and issued a $300.00 price objective on shares of AppFolio in a report on Friday, July 26th. Stephens reiterated an “overweight” rating and set a $241.00 price target on shares of AppFolio in a report on Friday, April 26th. DA Davidson boosted their price objective on shares of AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods increased their target price on shares of AppFolio from $215.00 to $238.00 and gave the stock a “market perform” rating in a research note on Friday, April 26th. Finally, Piper Sandler lifted their price target on shares of AppFolio from $295.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $277.75.

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.