AppFolio (NASDAQ:APPF) Major Shareholder Sells 3,800 Shares of Company Stock

Key Points

• Major shareholder Maurice Duca sold 3,800 AppFolio shares for about $912,190, reducing his direct holdings by 37.25% to 6,400 shares. The sale was made under a pre-arranged Rule 10b5-1 plan.
• AppFolio topped quarterly estimates, reporting EPS of $1.82 versus $1.79 expected and revenue of $295.69 million, up 18.5% year over year.
• Analysts give AppFolio a consensus “Moderate Buy” rating and an average price target of $250; nine analysts rate it Buy and three rate it Hold.

AppFolio, Inc. (NASDAQ:APPF - Get Free Report) major shareholder Maurice Duca sold 3,800 shares of the stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $240.05, for a total value of $912,190.00. Following the transaction, the insider directly owned 6,400 shares of the company's stock, valued at approximately $1,536,320. This trade represents a 37.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.

AppFolio Stock Performance

NASDAQ:APPF traded down $2.48 during trading hours on Friday, hitting $230.74. The company's stock had a trading volume of 332,237 shares, compared to its average volume of 386,805. The business's 50-day moving average is $212.61 and its two-hundred day moving average is $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 52-week low of $142.56 and a 52-week high of $257.57.

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

Hedge Funds Weigh In On AppFolio

A number of institutional investors and hedge funds have recently bought and sold shares of APPF. Principal Financial Group Inc. increased its position in shares of AppFolio by 20.9% in the 1st quarter. Principal Financial Group Inc. now owns 1,505,882 shares of the software maker's stock worth $237,665,000 after purchasing an additional 259,933 shares during the last quarter. William Blair Investment Management LLC raised its stake in AppFolio by 15.8% during the third quarter. William Blair Investment Management LLC now owns 836,167 shares of the software maker's stock valued at $167,668,000 after buying an additional 114,341 shares in the last quarter. Nellore Capital Management LLC raised its stake in AppFolio by 2.9% during the second quarter. Nellore Capital Management LLC now owns 654,865 shares of the software maker's stock valued at $105,008,000 after buying an additional 18,563 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in AppFolio by 6.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 384,529 shares of the software maker's stock valued at $60,686,000 after buying an additional 23,428 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in AppFolio by 21.7% during the 1st quarter. Bank of America Corp DE now owns 345,603 shares of the software maker's stock worth $54,543,000 after buying an additional 61,641 shares during the last quarter. Hedge funds and other institutional investors own 85.19% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on APPF shares. KeyCorp restated an "overweight" rating on shares of AppFolio in a research report on Wednesday, October 14th. Keefe, Bruyette & Woods lifted their price target on shares of AppFolio from $233.00 to $255.00 and gave the company an "outperform" rating in a research report on Wednesday, October 21st. Wall Street Zen downgraded AppFolio from a "buy" rating to a "hold" rating in a report on Sunday, July 26th. UBS Group increased their price target on AppFolio from $220.00 to $240.00 and gave the company a "neutral" rating in a report on Friday, October 23rd. Finally, Guggenheim raised their price objective on AppFolio from $232.00 to $239.00 and gave the company a "buy" rating in a research report on Friday, October 23rd. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, AppFolio currently has a consensus rating of "Moderate Buy" and an average target price of $250.00.

AppFolio Company Profile

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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