Maurice J. Duca Sells 3,100 Shares of AppFolio, Inc. (NASDAQ:APPF) Stock

Key Points

• Maurice J. Duca, a major shareholder of AppFolio, Inc., sold 3,100 shares at an average price of $282.43, reducing his stake by 7.95%.
• The company's stock experienced a drop, trading at $272.44, while analysts have set a consensus price target of $303.00 for AppFolio.
• Recently, AppFolio reported a quarterly earnings of $1.38 per share, exceeding analyst expectations and indicating a 19.4% year-over-year revenue growth.

AppFolio, Inc. (NASDAQ:APPF - Get Free Report) major shareholder Maurice J. Duca sold 3,100 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $282.43, for a total value of $875,533.00. Following the completion of the transaction, the insider owned 35,900 shares of the company's stock, valued at approximately $10,139,237. The trade was a 7.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large 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 APPF stock traded down $8.44 during mid-day trading on Tuesday, hitting $272.44. The company's stock had a trading volume of 410,087 shares, compared to its average volume of 411,873. AppFolio, Inc. has a 52-week low of $189.01 and a 52-week high of $326.04. The business has a 50-day moving average price of $248.05 and a 200 day moving average price of $228.73. The stock has a market cap of $9.77 billion, a price-to-earnings ratio of 49.18 and a beta of 0.95.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The software maker reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.11. AppFolio had a return on equity of 26.32% and a net margin of 23.54%. The firm had revenue of $235.58 million during the quarter, compared to analysts' expectations of $230.10 million. During the same quarter in the previous year, the business earned $1.12 earnings per share. The company's revenue was up 19.4% on a year-over-year basis. Equities research analysts predict that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

Analysts Set New Price Targets

APPF has been the subject of a number of research analyst reports. Piper Sandler upgraded AppFolio from a "neutral" rating to an "overweight" rating and raised their target price for the company from $240.00 to $350.00 in a research note on Friday, August 1st. Keefe, Bruyette & Woods upgraded AppFolio from an "underperform" rating to a "market perform" rating and lifted their price objective for the company from $205.00 to $267.00 in a research note on Thursday, July 31st. Finally, DA Davidson reiterated a "buy" rating and set a $350.00 price objective on shares of AppFolio in a research note on Friday, August 1st. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $303.00.

Institutional Trading of AppFolio

Several hedge funds have recently bought and sold shares of APPF. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of AppFolio by 84.4% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 773,579 shares of the software maker's stock worth $170,110,000 after acquiring an additional 354,061 shares during the period. William Blair Investment Management LLC boosted its stake in shares of AppFolio by 73.6% in the second quarter. William Blair Investment Management LLC now owns 733,428 shares of the software maker's stock worth $168,894,000 after acquiring an additional 310,834 shares during the period. AQR Capital Management LLC boosted its stake in shares of AppFolio by 43.2% in the fourth quarter. AQR Capital Management LLC now owns 655,625 shares of the software maker's stock worth $161,756,000 after acquiring an additional 197,700 shares during the period. FMR LLC boosted its stake in shares of AppFolio by 881.2% in the fourth quarter. FMR LLC now owns 597,485 shares of the software maker's stock worth $147,411,000 after acquiring an additional 536,591 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC boosted its stake in shares of AppFolio by 4.7% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 572,917 shares of the software maker's stock worth $141,350,000 after acquiring an additional 25,566 shares during the period. Institutional investors own 85.19% of the company's stock.

About AppFolio

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry in the United States. The company provides a cloud-based platform that enables users to automate and optimize common workflows; tools that assist with leasing, maintenance, and accounting; and other technology and services offered by third parties.

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