Maurice J. Duca Sells 2,700 Shares of AppFolio, Inc. (NASDAQ:APPF) Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 2,700 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $234.05, for a total value of $631,935.00. Following the sale, the insider now owns 14,716 shares in the company, valued at approximately $3,444,279.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

AppFolio Price Performance

Shares of NASDAQ APPF opened at $233.79 on Friday. The company has a market capitalization of $8.47 billion, a P/E ratio of 112.94 and a beta of 0.81. The business’s 50-day moving average price is $230.66 and its two-hundred day moving average price is $233.16. 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 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. The company had revenue of $197.38 million for the quarter, compared to the consensus estimate of $190.57 million. AppFolio had a return on equity of 27.39% and a net margin of 17.32%. The company’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.53) earnings per share. On average, equities analysts anticipate that AppFolio, Inc. will post 3.04 EPS for the current year.

Wall Street Analyst Weigh In

APPF has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their target price on AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Piper Sandler raised their target price on AppFolio from $295.00 to $300.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. StockNews.com lowered shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. KeyCorp boosted 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. Finally, DA Davidson boosted their target price 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. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $277.75.

Institutional Trading of AppFolio

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of AppFolio by 589.5% in the 2nd quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after buying an additional 112 shares in the last quarter. CWM LLC increased its holdings in shares of AppFolio by 238.6% in the second quarter. CWM LLC now owns 149 shares of the software maker’s stock valued at $36,000 after purchasing an additional 105 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of AppFolio by 291.3% during the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock worth $44,000 after acquiring an additional 134 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in AppFolio by 688.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock worth $52,000 after purchasing an additional 186 shares during the last quarter. Finally, Quarry LP raised its stake in shares of AppFolio by 147.9% during the second quarter. Quarry LP now owns 238 shares of the software maker’s stock worth $58,000 after buying an additional 142 shares during the last quarter. 62.34% of the stock is currently owned by institutional investors.

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.