AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Maurice J. Duca Sells 2,577 Shares

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 2,577 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $250.75, for a total transaction of $646,182.75. Following the completion of the sale, the insider now owns 2,875 shares of the company’s stock, valued at approximately $720,906.25. This represents a 47.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

AppFolio Stock Performance

APPF opened at $251.06 on Tuesday. The stock has a fifty day moving average of $223.34 and a 200-day moving average of $230.86. The company has a market capitalization of $9.12 billion, a P/E ratio of 69.93 and a beta of 0.83. AppFolio, Inc. has a fifty-two week low of $164.29 and a fifty-two week high of $274.56.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.26. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The business had revenue of $206.00 million during the quarter, compared to analysts’ expectations of $199.11 million. During the same quarter in the previous year, the company earned $0.26 EPS. The business’s revenue was up 24.5% on a year-over-year basis. On average, equities research analysts predict that AppFolio, Inc. will post 3.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on APPF. StockNews.com downgraded shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Keefe, Bruyette & Woods downgraded AppFolio from a “market perform” rating to an “underperform” rating and reduced their target price for the stock from $255.00 to $193.00 in a research note on Tuesday, October 15th. KeyCorp decreased their price objective on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Finally, Piper Sandler cut their target price on shares of AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, AppFolio currently has a consensus rating of “Moderate Buy” and a consensus price target of $261.75.

Institutional Investors Weigh In On AppFolio

Several institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. increased its stake in AppFolio by 85.7% during the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock worth $29,000 after acquiring an additional 54 shares during the period. GAMMA Investing LLC increased its position in shares of AppFolio by 589.5% in 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 during the period. CWM LLC raised its stake in 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 stake in AppFolio by 291.3% in the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock valued at $44,000 after purchasing an additional 134 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in AppFolio by 688.9% during the second 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 period. 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.