AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Sells $221,470.32 in Stock

AppFolio, Inc. (NASDAQ:APPFGet Free Report) major shareholder Maurice J. Duca sold 876 shares of the business’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $252.82, for a total transaction of $221,470.32. Following the completion of the sale, the insider now directly owns 7,100 shares in the company, valued at approximately $1,795,022. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

AppFolio Stock Down 0.4 %

Shares of APPF stock opened at $247.96 on Thursday. The firm has a 50 day moving average of $239.02 and a 200-day moving average of $223.74. The company has a market cap of $8.98 billion, a price-to-earnings ratio of 119.79 and a beta of 0.80. AppFolio, Inc. has a 52 week low of $164.29 and a 52 week high of $256.73.

AppFolio (NASDAQ:APPFGet Free Report) last posted its quarterly earnings results on Thursday, April 25th. The software maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.09. AppFolio had a net margin of 11.38% and a return on equity of 13.51%. The business had revenue of $187.43 million during the quarter, compared to analysts’ expectations of $173.66 million. Analysts anticipate that AppFolio, Inc. will post 2.85 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on APPF shares. KeyCorp upped their price target on AppFolio from $264.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Piper Sandler began coverage on shares of AppFolio in a research report on Monday, June 10th. They set an “overweight” rating and a $295.00 target price for the company. Stephens reaffirmed an “overweight” rating and issued a $241.00 price objective on shares of AppFolio in a research note on Friday, April 26th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of AppFolio from $215.00 to $238.00 and gave the stock a “market perform” rating in a research report on Friday, April 26th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, AppFolio currently has a consensus rating of “Moderate Buy” and an average price target of $248.71.

Read Our Latest Analysis on APPF

Institutional Trading of AppFolio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APPF. Norges Bank acquired a new stake in AppFolio in the fourth quarter valued at approximately $38,458,000. Zeno Equity Partners LLP bought a new stake in AppFolio during the 4th quarter valued at $33,434,000. Principal Financial Group Inc. raised its holdings in AppFolio by 2,359.8% during the first quarter. Principal Financial Group Inc. now owns 151,646 shares of the software maker’s stock worth $37,417,000 after buying an additional 145,481 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of AppFolio by 344.7% in the first quarter. Assenagon Asset Management S.A. now owns 155,127 shares of the software maker’s stock valued at $38,276,000 after buying an additional 120,246 shares in the last quarter. Finally, Westwind Capital grew its holdings in shares of AppFolio by 301.0% during the second quarter. Westwind Capital now owns 149,240 shares of the software maker’s stock valued at $3,650,000 after buying an additional 112,024 shares during the last quarter. 62.34% of the stock is owned by institutional investors.

About AppFolio

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for AppFolio (NASDAQ:APPF)

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