Maurice Duca Sells 2,656 Shares of AppFolio (NASDAQ:APPF) Stock

Key Points

• Major shareholder Maurice Duca sold 2,656 AppFolio shares for approximately $589,234 under a pre-arranged Rule 10b5-1 plan, reducing his position by 24.92% to 8,000 shares.
• AppFolio recently exceeded quarterly expectations, reporting $1.71 in adjusted EPS and $281.12 million in revenue, with revenue rising 19.3% year over year.
• Analysts maintain a consensus “Buy” rating with an average price target of $243.50, while institutional investors own 85.19% of the company’s stock.

AppFolio, Inc. (NASDAQ:APPF - Get Free Report) major shareholder Maurice Duca sold 2,656 shares of the firm's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $221.85, for a total transaction of $589,233.60. Following the sale, the insider directly owned 8,000 shares of the company's stock, valued at approximately $1,774,800. The trade was a 24.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

AppFolio Price Performance

Shares of APPF traded up $0.70 on Monday, hitting $225.10. The company's stock had a trading volume of 415,963 shares, compared to its average volume of 395,317. The company has a market capitalization of $7.97 billion, a PE ratio of 51.39 and a beta of 0.78. AppFolio, Inc. has a fifty-two week low of $142.56 and a fifty-two week high of $288.73. The company has a 50 day moving average price of $177.53 and a 200 day moving average price of $170.61.

AppFolio (NASDAQ:APPF - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The software maker reported $1.71 EPS for the quarter, topping analysts' consensus estimates of $1.69 by $0.02. AppFolio had a return on equity of 32.42% and a net margin of 15.13%.The business had revenue of $281.12 million for the quarter, compared to analyst estimates of $277.35 million. During the same period in the prior year, the company earned $1.38 EPS. AppFolio's revenue for the quarter was up 19.3% on a year-over-year basis. On average, equities analysts forecast that AppFolio, Inc. will post 5.16 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on APPF shares. DA Davidson set a $225.00 target price on AppFolio in a research note on Friday, July 24th. Zacks Research raised shares of AppFolio from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 28th. Weiss Ratings upgraded shares of AppFolio from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. Wall Street Zen cut shares of AppFolio from a "buy" rating to a "hold" rating in a research note on Sunday, July 26th. Finally, KeyCorp reissued an "overweight" rating on shares of AppFolio in a research note on Monday, July 6th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, AppFolio presently has a consensus rating of "Buy" and an average price target of $243.50.

Institutional Trading of AppFolio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APPF. EverSource Wealth Advisors LLC raised its holdings in AppFolio by 101.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker's stock worth $26,000 after purchasing an additional 56 shares during the last quarter. Optiver Holding B.V. boosted its stake in shares of AppFolio by 827.8% in the 1st quarter. Optiver Holding B.V. now owns 167 shares of the software maker's stock valued at $26,000 after purchasing an additional 149 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of AppFolio by 48.8% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker's stock worth $53,000 after buying an additional 63 shares during the period. Advisory Services Network LLC acquired a new stake in shares of AppFolio during the 3rd quarter worth approximately $55,000. Finally, Employees Retirement System of Texas bought a new stake in shares of AppFolio during the third quarter worth approximately $58,000. 85.19% of the stock is currently owned by institutional investors and hedge funds.

AppFolio Company Profile

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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