AppFolio (NASDAQ:APPF) Major Shareholder Maurice Duca Sells 3,200 Shares of Stock

Key Points

• Major shareholder Maurice Duca sold 3,200 AppFolio shares for $768,224, reducing his holdings by 40% to 4,800 shares. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• AppFolio beat quarterly expectations, reporting EPS of $1.82 versus $1.79 expected and revenue of $295.69 million; revenue increased 18.5% year over year.
• Analysts rate AppFolio a Moderate Buy, with an average price target of $250. The stock traded down 1.1% to $230.74 on Friday.

AppFolio, Inc. (NASDAQ:APPF - Get Free Report) major shareholder Maurice Duca sold 3,200 shares of AppFolio stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $240.07, for a total transaction of $768,224.00. Following the completion of the sale, the insider owned 4,800 shares in the company, valued at $1,152,336. The trade was a 40.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 Trading Down 1.1%

Shares of NASDAQ APPF traded down $2.48 during mid-day trading on Friday, hitting $230.74. The company had a trading volume of 332,237 shares, compared to its average volume of 386,805. The firm has a 50-day simple moving average of $212.61 and a two-hundred day simple moving average of $184.11. The company has a market capitalization of $8.18 billion, a PE ratio of 48.68 and a beta of 0.87. AppFolio, Inc. has a one year low of $142.56 and a one year high of $257.57.

AppFolio (NASDAQ:APPF - Get Free Report) last released its earnings results on Thursday, October 22nd. The software maker reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.03. AppFolio had a return on equity of 33.56% and a net margin of 15.62%. The business had revenue of $295.69 million for the quarter, compared to analyst estimates of $294.46 million. During the same quarter in the prior year, the company posted $1.31 earnings per share. AppFolio's revenue was up 18.5% on a year-over-year basis. Sell-side analysts expect that AppFolio, Inc. will post 5.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AppFolio

Several large investors have recently modified their holdings of the stock. Seven Mile Advisory boosted its holdings in shares of AppFolio by 3.3% during the 3rd quarter. Seven Mile Advisory now owns 1,666 shares of the software maker's stock worth $334,000 after buying an additional 54 shares during the period. Illinois Municipal Retirement Fund lifted its holdings in shares of AppFolio by 0.7% during the third quarter. Illinois Municipal Retirement Fund now owns 9,168 shares of the software maker's stock worth $1,838,000 after buying an additional 63 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of AppFolio by 8.5% in the third quarter. Parallel Advisors LLC now owns 854 shares of the software maker's stock valued at $171,000 after acquiring an additional 67 shares during the period. Versant Capital Management Inc boosted its position in shares of AppFolio by 18.6% in the third quarter. Versant Capital Management Inc now owns 536 shares of the software maker's stock valued at $107,000 after acquiring an additional 84 shares during the period. Finally, AMI Asset Management Corp grew its stake in shares of AppFolio by 2.4% in the third quarter. AMI Asset Management Corp now owns 4,057 shares of the software maker's stock valued at $814,000 after acquiring an additional 94 shares in the last quarter. 85.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on APPF shares. KeyCorp reiterated an "overweight" rating on shares of AppFolio in a research note on Wednesday, October 14th. Zacks Research lowered shares of AppFolio from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 23rd. UBS Group upped their target price on shares of AppFolio from $220.00 to $240.00 and gave the company a "neutral" rating in a report on Friday, October 23rd. Wall Street Zen cut shares of AppFolio from a "buy" rating to a "hold" rating in a report on Sunday, July 26th. Finally, Weiss Ratings upgraded shares of AppFolio from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, AppFolio has a consensus rating of "Moderate Buy" and an average price target of $250.00.

About AppFolio

AppFolio, Inc is a cloud-based software company that provides technology solutions for the real estate industry. Its platform is designed primarily for property management businesses, helping them manage accounting, leasing, maintenance, communications, payments, reporting and other operational activities through a centralized system.

The company's products serve a range of property managers, including those overseeing residential, commercial, community association, student housing and senior living properties.

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