AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Sells $716,225.00 in Stock

Key Points

• Major shareholder Maurice J. Duca sold 2,500 shares of AppFolio stock for a total of $716,225, reducing his position by 3.41% while retaining 70,795 shares worth over $20 million.
• AppFolio reported strong quarterly earnings with an EPS of $1.38, surpassing analyst estimates, and a 19.4% year-over-year revenue increase to $235.58 million.
• Institutional investors own 85.19% of AppFolio's stock, with notable increases in stakes from firms like Kayne Anderson Rudnick and FMR LLC.

AppFolio, Inc. (NASDAQ:APPF - Get Free Report) major shareholder Maurice J. Duca sold 2,500 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $286.49, for a total transaction of $716,225.00. Following the transaction, the insider owned 70,795 shares of the company's stock, valued at $20,282,059.55. The trade was a 3.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

AppFolio Price Performance

Shares of NASDAQ:APPF traded down $8.44 during mid-day trading on Tuesday, hitting $272.44. The company had a trading volume of 410,087 shares, compared to its average volume of 411,873. The firm has a fifty day moving average price of $248.05 and a 200 day moving average price of $228.73. The company has a market capitalization of $9.77 billion, a PE ratio of 49.18 and a beta of 0.95. AppFolio, Inc. has a one year low of $189.01 and a one year high of $326.04.

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

Institutional Trading of AppFolio

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of AppFolio by 84.4% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 773,579 shares of the software maker's stock worth $170,110,000 after acquiring an additional 354,061 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in AppFolio by 73.6% during the second quarter. William Blair Investment Management LLC now owns 733,428 shares of the software maker's stock worth $168,894,000 after purchasing an additional 310,834 shares during the last quarter. AQR Capital Management LLC grew its position in AppFolio by 43.2% in the 4th quarter. AQR Capital Management LLC now owns 655,625 shares of the software maker's stock worth $161,756,000 after purchasing an additional 197,700 shares in the last quarter. FMR LLC increased its stake in AppFolio by 881.2% in the 4th quarter. FMR LLC now owns 597,485 shares of the software maker's stock valued at $147,411,000 after buying an additional 536,591 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC lifted its position in shares of AppFolio by 4.7% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 572,917 shares of the software maker's stock worth $141,350,000 after buying an additional 25,566 shares in the last quarter. Institutional investors own 85.19% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on APPF shares. DA Davidson reaffirmed a "buy" rating and set a $350.00 price target on shares of AppFolio in a research report on Friday, August 1st. Keefe, Bruyette & Woods raised shares of AppFolio from an "underperform" rating to a "market perform" rating and upped their price target for the stock from $205.00 to $267.00 in a research report on Thursday, July 31st. Finally, Piper Sandler raised shares of AppFolio from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $240.00 to $350.00 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 company. Based on data from MarketBeat.com, AppFolio has a consensus rating of "Moderate Buy" and a consensus 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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