Maurice Duca Sells 7,200 Shares of AppFolio (NASDAQ:APPF) Stock

Key Points

• Major shareholder Maurice Duca sold 7,200 AppFolio shares for approximately $1.46 million at an average price of $202.12, reducing his ownership by 32.99% to 14,624 shares. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
• AppFolio reported quarterly EPS of $1.71 and revenue of $281.12 million, beating analyst expectations, while revenue increased 19.3% year over year. The stock recently traded at $203.95, with a $7.22 billion market capitalization.
• Analysts maintain a generally positive view, with the stock holding a consensus “Buy” rating and an average price target of $243.50; institutional investors own approximately 85.19% of outstanding shares.

AppFolio, Inc. (NASDAQ:APPF - Get Free Report) major shareholder Maurice Duca sold 7,200 shares of the company's stock in a transaction on Friday, August 14th. The stock was sold at an average price of $202.12, for a total transaction of $1,455,264.00. Following the completion of the transaction, the insider owned 14,624 shares of the company's stock, valued at $2,955,802.88. This trade represents a 32.99% 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 10% or more of a company's stock are required to disclose their transactions with the SEC.

AppFolio Price Performance

APPF traded up $7.99 on Tuesday, hitting $203.95. The company had a trading volume of 285,413 shares, compared to its average volume of 476,488. AppFolio, Inc. has a 52-week low of $142.56 and a 52-week high of $288.73. The stock has a fifty day simple moving average of $174.14 and a 200-day simple moving average of $170.14. The firm has a market capitalization of $7.22 billion, a P/E ratio of 46.56 and a beta of 0.78.

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Benchmark lifted their price target on AppFolio from $222.00 to $226.00 and gave the stock a "buy" rating in a research report on Friday, April 24th. Zacks Research upgraded AppFolio from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 28th. Wall Street Zen cut AppFolio from a "buy" rating to a "hold" rating in a research note on Sunday, July 26th. DA Davidson set a $225.00 price objective on shares of AppFolio in a research report on Friday, July 24th. Finally, Weiss Ratings raised AppFolio from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, AppFolio presently has an average rating of "Buy" and a consensus target price of $243.50.

Institutional Investors Weigh In On AppFolio

A number of hedge funds have recently made changes to their positions in the stock. Woodline Partners LP raised its holdings in shares of AppFolio by 2.9% in the first quarter. Woodline Partners LP now owns 1,754 shares of the software maker's stock worth $386,000 after buying an additional 50 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of AppFolio by 101.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker's stock valued at $26,000 after purchasing an additional 56 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its stake in shares of AppFolio by 4.8% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 1,263 shares of the software maker's stock valued at $348,000 after purchasing an additional 58 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings 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 purchasing an additional 63 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC grew its holdings in AppFolio by 1.3% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 5,162 shares of the software maker's stock valued at $1,201,000 after purchasing an additional 64 shares during the period. 85.19% of the stock is currently owned by hedge funds and other institutional investors.

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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