AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Maurice J. Duca Sells 3,100 Shares

Key Points

• Maurice J. Duca, a major shareholder of AppFolio, sold 3,100 shares of the company's stock for a total of $887,995, reducing his ownership by 7.69%.
• AppFolio recently reported EPS of $1.38 for the last quarter, exceeding analysts' expectations, with revenues reaching $235.58 million, up 19.4% year-over-year.
• Analysts have revised their price targets for AppFolio, with Piper Sandler raising theirs to $350, indicating a shift in outlook for the stock.

AppFolio, Inc. (NASDAQ:APPF - Get Free Report) major shareholder Maurice J. Duca sold 3,100 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $286.45, for a total value of $887,995.00. Following the transaction, the insider directly owned 37,200 shares of the company's stock, valued at $10,655,940. This trade represents a 7.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 Trading Down 3.0%

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

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

Institutional Investors Weigh In On AppFolio

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Colonial Trust Co SC acquired a new position in AppFolio in the 4th quarter valued at about $28,000. Fifth Third Bancorp lifted its stake in AppFolio by 53.0% in the 1st quarter. Fifth Third Bancorp now owns 179 shares of the software maker's stock valued at $39,000 after purchasing an additional 62 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of AppFolio by 4,975.0% during the first quarter. Versant Capital Management Inc now owns 203 shares of the software maker's stock valued at $45,000 after acquiring an additional 199 shares during the last quarter. Huntington National Bank raised its stake in shares of AppFolio by 58.7% during the second quarter. Huntington National Bank now owns 200 shares of the software maker's stock valued at $46,000 after acquiring an additional 74 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of AppFolio during the second quarter worth $52,000. 85.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on APPF. Piper Sandler raised AppFolio from a "neutral" rating to an "overweight" rating and increased their price target 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 raised their target price for the company from $205.00 to $267.00 in a report on Thursday, July 31st. Finally, DA Davidson reissued a "buy" rating and set a $350.00 target price on shares of AppFolio in a research report on Friday, August 1st. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, AppFolio has an average rating of "Moderate Buy" and a consensus target price 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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