Maurice Duca Sells 1,800 Shares of AppFolio (NASDAQ:APPF) Stock

Key Points

• Major shareholder Maurice Duca sold 1,800 AppFolio shares at an average price of $180, generating $324,000. The Rule 10b5-1 transaction reduced his stake by 4.79% to 35,798 shares.
• AppFolio reported quarterly revenue of $281.12 million, up 19.3% year over year, and EPS of $1.71, slightly exceeding analyst expectations.
• Analysts maintain a generally positive view, with an average “Buy” rating and a $243.50 price target, while institutional investors own 85.19% of the company.

AppFolio, Inc. (NASDAQ:APPF - Get Free Report) major shareholder Maurice Duca sold 1,800 shares of the business's stock in a transaction on Monday, July 20th. The stock was sold at an average price of $180.00, for a total transaction of $324,000.00. Following the completion of the sale, the insider owned 35,798 shares in the company, valued at $6,443,640. This represents a 4.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

AppFolio Stock Performance

Shares of NASDAQ:APPF traded up $16.21 on Tuesday, reaching $184.96. The company's stock had a trading volume of 186,873 shares, compared to its average volume of 390,615. AppFolio, Inc. has a 52-week low of $142.56 and a 52-week high of $326.04. The company has a market cap of $6.54 billion, a P/E ratio of 42.23 and a beta of 0.79. The company has a 50-day simple moving average of $164.98 and a 200 day simple moving average of $173.02.

AppFolio (NASDAQ:APPF - Get Free Report) last announced its earnings results on Thursday, July 23rd. The software maker reported $1.71 earnings per share (EPS) 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 firm had revenue of $281.12 million for the quarter, compared to analysts' expectations of $277.35 million. During the same period in the prior year, the company earned $1.38 EPS. The business's revenue was up 19.3% compared to the same quarter last year. On average, equities research analysts forecast that AppFolio, Inc. will post 5.04 EPS 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 APPF. EverSource Wealth Advisors LLC lifted its position in shares of AppFolio by 101.8% during the fourth 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. grew its holdings in shares of AppFolio by 827.8% in the first quarter. Optiver Holding B.V. now owns 167 shares of the software maker's stock worth $26,000 after purchasing an additional 149 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in AppFolio by 48.8% in 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 purchased a new position in AppFolio in the 3rd quarter worth about $55,000. Finally, Employees Retirement System of Texas bought a new stake in AppFolio during the 3rd quarter valued at about $58,000. 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 recently commented on the company. Weiss Ratings cut AppFolio from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, June 11th. DA Davidson set a $225.00 price target on AppFolio in a research report on Friday. Wall Street Zen lowered shares of AppFolio from a "buy" rating to a "hold" rating in a research note on Sunday. KeyCorp reiterated an "overweight" rating on shares of AppFolio in a report on Monday, July 6th. Finally, Guggenheim started coverage on shares of AppFolio in a research report on Wednesday, July 22nd. They issued a "buy" rating and a $232.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, AppFolio has an average rating of "Buy" and an average price target of $243.50.

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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