Maurice J. Duca Sells 1,296 Shares of AppFolio, Inc. (NASDAQ:APPF) Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 1,296 shares of the business’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $236.77, for a total value of $306,853.92. Following the completion of the sale, the insider now directly owns 9,383 shares in the company, valued at $2,221,612.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

AppFolio Price Performance

AppFolio stock opened at $236.32 on Friday. The business has a 50 day simple moving average of $228.51 and a 200-day simple moving average of $233.37. AppFolio, Inc. has a 12 month low of $164.29 and a 12 month high of $274.56. The stock has a market capitalization of $8.56 billion, a PE ratio of 114.16 and a beta of 0.81.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Thursday, July 25th. The software maker reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.16. The firm 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 firm’s revenue was up 34.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.53) earnings per share. On average, equities research analysts anticipate that AppFolio, Inc. will post 3.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. KeyCorp raised their price target on shares of AppFolio from $275.00 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. Piper Sandler raised their price target on AppFolio from $295.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, July 26th. JPMorgan Chase & Co. upped their target price on shares of AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Finally, StockNews.com cut AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, AppFolio presently has a consensus rating of “Moderate Buy” and an average target price of $277.75.

Institutional Investors Weigh In On AppFolio

Several institutional investors and hedge funds have recently modified their holdings of the company. Gordian Capital Singapore Pte Ltd purchased a new position in AppFolio in the second quarter worth approximately $265,000. Teachers Retirement System of The State of Kentucky purchased a new position in AppFolio during the 2nd quarter worth approximately $1,646,000. Truist Financial Corp increased its holdings in shares of AppFolio by 12.8% in the 2nd quarter. Truist Financial Corp now owns 2,467 shares of the software maker’s stock valued at $603,000 after acquiring an additional 280 shares during the period. Quarry LP boosted 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 period. Finally, Capital Impact Advisors LLC acquired a new stake in AppFolio during the 2nd quarter worth approximately $738,000. Hedge funds and other institutional investors own 62.34% of the company’s stock.

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.