AppFolio (NASDAQ:APPF) Major Shareholder Sells 7,200 Shares of Stock

Key Points

• Major shareholder Maurice Duca sold 7,200 AppFolio shares for approximately $1.42 million at an average price of $196.93 under a pre-arranged Rule 10b5-1 trading plan, reducing their direct ownership by 28.77%.
• AppFolio’s shares recently traded at $204.21, with a market capitalization of $7.23 billion and a 52-week range of $142.56 to $288.73.
• The company exceeded quarterly expectations, reporting $1.71 in adjusted earnings per share and $281.12 million in revenue, up 19.3% year over year. Analysts maintain an overall “Buy” rating with an average price target of $243.50.

AppFolio, Inc. (NASDAQ:APPF - Get Free Report) major shareholder Maurice Duca sold 7,200 shares of AppFolio stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $196.93, for a total value of $1,417,896.00. Following the transaction, the insider directly owned 17,824 shares in the company, valued at approximately $3,510,080.32. The trade was a 28.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

AppFolio Stock Performance

NASDAQ APPF traded up $0.24 on Friday, reaching $204.21. The company's stock had a trading volume of 265,096 shares, compared to its average volume of 396,519. AppFolio, Inc. has a twelve month low of $142.56 and a twelve month high of $288.73. The stock has a market cap of $7.23 billion, a PE ratio of 46.62 and a beta of 0.78. The firm's 50 day moving average is $172.09 and its two-hundred day moving average is $170.49.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The software maker reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.02. AppFolio had a net margin of 15.13% and a return on equity of 32.42%. The company had revenue of $281.12 million during the quarter, compared to analyst estimates of $277.35 million. During the same quarter last year, the firm posted $1.38 EPS. The business's revenue for the quarter was up 19.3% on a year-over-year basis. Equities research analysts anticipate that AppFolio, Inc. will post 5.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Guggenheim started coverage on AppFolio in a research report on Wednesday, July 22nd. They set a "buy" rating and a $232.00 price objective for the company. UBS Group set a $210.00 price target on AppFolio in a research report on Friday, April 24th. Wall Street Zen downgraded AppFolio from a "buy" rating to a "hold" rating in a report on Sunday, July 26th. Zacks Research raised shares of AppFolio from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 28th. Finally, Benchmark raised their target price on shares of AppFolio from $222.00 to $226.00 and gave the stock a "buy" rating in a report on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, AppFolio presently has an average rating of "Buy" and an average price target of $243.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of APPF. EverSource Wealth Advisors LLC lifted its stake in AppFolio by 101.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker's stock worth $26,000 after acquiring an additional 56 shares in the last quarter. Optiver Holding B.V. grew its stake in AppFolio by 827.8% during the 1st quarter. Optiver Holding B.V. now owns 167 shares of the software maker's stock valued at $26,000 after acquiring an additional 149 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in AppFolio by 48.8% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker's stock valued at $53,000 after acquiring an additional 63 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of AppFolio in the 3rd quarter valued at about $55,000. Finally, Employees Retirement System of Texas acquired a new position in shares of AppFolio in the 3rd quarter valued at about $58,000. Hedge funds and other institutional investors own 85.19% of the company's stock.

About AppFolio

AppFolio, Inc is a Santa Barbara–based provider of cloud-based software solutions for the property management and legal industries. Founded in 2006 by former software executives, the company went public on the NASDAQ under the symbol APPF in 2015. Its original offering, AppFolio Property Manager, automates accounting, marketing, leasing, and maintenance functions for residential, commercial, student housing, and community association managers.

In 2019, AppFolio expanded its portfolio with the acquisition of MyCase, a web-based legal practice management platform for small to mid-size law firms.

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