Maurice J. Duca Sells 2,500 Shares of AppFolio, Inc. (NASDAQ:APPF) Stock

Key Points

• Maurice J. Duca, a major shareholder of AppFolio, Inc., sold 2,500 shares at an average price of $308.13, resulting in a total transaction of $770,325, and a 3.19% decrease in their holdings.
• AppFolio shares experienced a 5.7% drop to $283.36 amid mid-day trading, with a market capitalization of $10.21 billion and a 52-week high of $326.04.
• The company recently reported $1.38 earnings per share, exceeding expectations, and saw a 19.4% increase in revenue year-over-year, which rose to $235.58 million.

AppFolio, Inc. (NASDAQ:APPF - Get Free Report) major shareholder Maurice J. Duca sold 2,500 shares of AppFolio stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $308.13, for a total value of $770,325.00. Following the completion of the sale, the insider owned 75,795 shares in the company, valued at approximately $23,354,713.35. This represents a 3.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.

AppFolio Price Performance

Shares of APPF traded down $7.31 during trading hours on Wednesday, hitting $265.14. The stock had a trading volume of 50,505 shares, compared to its average volume of 318,153. AppFolio, Inc. has a 12 month low of $189.01 and a 12 month high of $326.04. The firm has a market capitalization of $9.51 billion, a PE ratio of 47.82 and a beta of 0.95. The stock has a fifty day moving average price of $248.05 and a 200 day moving average price of $228.73.

AppFolio (NASDAQ:APPF - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The software maker reported $1.38 EPS for the quarter, topping the consensus estimate of $1.27 by $0.11. AppFolio had a return on equity of 26.32% and a net margin of 23.54%. The company had revenue of $235.58 million during the quarter, compared to analyst estimates of $230.10 million. During the same quarter in the previous year, the company posted $1.12 earnings per share. AppFolio's revenue was up 19.4% compared to the same quarter last year. As a group, analysts anticipate that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on APPF shares. Piper Sandler upgraded AppFolio from a "neutral" rating to an "overweight" rating and raised their target price for the company from $240.00 to $350.00 in a research note on Friday, August 1st. Keefe, Bruyette & Woods raised AppFolio from an "underperform" rating to a "market perform" rating and lifted their target price for the stock from $205.00 to $267.00 in a report on Thursday, July 31st. Finally, DA Davidson reissued a "buy" rating and issued a $350.00 target price on shares of AppFolio in a report on Friday, August 1st. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $303.00.

Institutional Trading of AppFolio

Institutional investors have recently made changes to their positions in the business. Colonial Trust Co SC purchased a new stake in shares of AppFolio in the fourth quarter worth about $28,000. Fifth Third Bancorp lifted its position in shares of AppFolio by 53.0% in the first quarter. Fifth Third Bancorp now owns 179 shares of the software maker's stock worth $39,000 after buying an additional 62 shares in the last quarter. Huntington National Bank lifted its position in shares of AppFolio by 58.7% in the second quarter. Huntington National Bank now owns 200 shares of the software maker's stock worth $46,000 after buying an additional 74 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of AppFolio by 4,975.0% in the first quarter. Versant Capital Management Inc now owns 203 shares of the software maker's stock worth $45,000 after buying an additional 199 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd lifted its position in shares of AppFolio by 10,300.0% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 208 shares of the software maker's stock worth $51,000 after buying an additional 206 shares in the last quarter. Hedge funds and other institutional investors own 85.19% of the company's stock.

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.