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

Key Points

• Maurice J. Duca, a major shareholder of AppFolio, sold 2,500 shares at an average price of $282.35, totaling about $705,875, which reflects a 3.53% decrease in his holdings.
• AppFolio's stock price has decreased by 3.0%, trading at $272.44, with a market capitalization of approximately $9.77 billion.
• Analysts have upgraded their ratings for AppFolio, with target prices raised to between $267.00 and $350.00, leading to a consensus rating of "Moderate Buy."

AppFolio, Inc. (NASDAQ:APPF - Get Free Report) major shareholder Maurice J. Duca sold 2,500 shares of the business's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $282.35, for a total value of $705,875.00. Following the sale, the insider directly owned 68,295 shares of the company's stock, valued at approximately $19,283,093.25. This trade represents a 3.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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 3.0%

Shares of NASDAQ APPF traded down $8.44 on Tuesday, hitting $272.44. The company had a trading volume of 410,087 shares, compared to its average volume of 411,873. AppFolio, Inc. has a 12-month low of $189.01 and a 12-month high of $326.04. The business has a 50 day moving average of $248.05 and a two-hundred day moving average of $228.73. The firm has a market capitalization of $9.77 billion, a P/E ratio of 49.18 and a beta of 0.95.

AppFolio (NASDAQ:APPF - Get Free Report) last released its quarterly earnings results 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 business had revenue of $235.58 million for the quarter, compared to analysts' expectations of $230.10 million. During the same quarter in the previous year, the firm posted $1.12 earnings per share. The company's revenue was up 19.4% compared to the same quarter last year. On average, sell-side analysts anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. ProShare Advisors LLC lifted its stake in shares of AppFolio by 3.6% in the second quarter. ProShare Advisors LLC now owns 1,078 shares of the software maker's stock worth $248,000 after acquiring an additional 37 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its stake in shares of AppFolio by 0.5% in the second quarter. State of New Jersey Common Pension Fund D now owns 9,041 shares of the software maker's stock worth $2,082,000 after acquiring an additional 44 shares in the last quarter. Woodline Partners LP lifted its stake in shares of AppFolio by 2.9% in the first quarter. Woodline Partners LP now owns 1,754 shares of the software maker's stock worth $386,000 after acquiring an additional 50 shares in the last quarter. Treasurer of the State of North Carolina lifted its stake in shares of AppFolio by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 9,960 shares of the software maker's stock worth $2,457,000 after acquiring an additional 60 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake 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 acquiring an additional 62 shares in the last quarter. Institutional investors and hedge funds own 85.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Keefe, Bruyette & Woods raised AppFolio from an "underperform" rating to a "market perform" rating and boosted their price target for the company from $205.00 to $267.00 in a research report on Thursday, July 31st. Piper Sandler raised AppFolio from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $240.00 to $350.00 in a research report on Friday, August 1st. Finally, DA Davidson reaffirmed a "buy" rating and issued a $350.00 target price on shares of AppFolio in a research report on Friday, August 1st. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $303.00.

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.

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