AppFolio (NASDAQ:APPF) Major Shareholder Maurice Duca Sells 3,500 Shares of Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice Duca sold 3,500 shares of AppFolio stock in a transaction on Friday, July 17th. The stock was sold at an average price of $181.84, for a total value of $636,440.00. Following the sale, the insider directly owned 81,680 shares of the company’s stock, valued at $14,852,691.20. This represents a 4.11% 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 stock are required to disclose their transactions with the SEC.

AppFolio Stock Performance

Shares of AppFolio stock opened at $178.27 on Wednesday. The firm has a 50-day moving average of $165.35 and a 200-day moving average of $172.69. The stock has a market cap of $6.30 billion, a PE ratio of 40.70 and a beta of 0.79. AppFolio, Inc. has a 52-week low of $142.56 and a 52-week high of $326.04.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, July 23rd. The software maker reported $1.71 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 business had revenue of $281.12 million for the quarter, compared to the consensus estimate of $277.35 million. During the same period in the prior year, the company posted $1.38 earnings per share. AppFolio’s revenue was up 19.3% compared to the same quarter last year. Equities research analysts predict that AppFolio, Inc. will post 5.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AppFolio

Several hedge funds have recently bought and sold shares of APPF. Principal Financial Group Inc. raised 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 valued at $237,665,000 after buying an additional 259,933 shares in the last quarter. Lead Edge Capital Management LLC acquired a new stake in shares of AppFolio during the 1st quarter worth approximately $33,183,000. Greenstone Partners & Co. LLC acquired a new stake in shares of AppFolio during the 4th quarter worth approximately $43,647,000. Millennium Management LLC increased its stake in AppFolio by 158.6% in the fourth quarter. Millennium Management LLC now owns 281,495 shares of the software maker’s stock valued at $65,490,000 after acquiring an additional 172,627 shares during the last quarter. Finally, Caledonia Private Investments Pty Ltd increased its stake in AppFolio by 45.9% in the fourth quarter. Caledonia Private Investments Pty Ltd now owns 332,635 shares of the software maker’s stock valued at $77,388,000 after acquiring an additional 104,609 shares during the last quarter. 85.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

APPF has been the topic of several recent research reports. Wall Street Zen cut shares of AppFolio from a “buy” rating to a “hold” rating in a report on Sunday. Guggenheim began coverage on AppFolio in a research note on Wednesday, July 22nd. They issued a “buy” rating and a $232.00 price target for the company. Benchmark increased 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. Weiss Ratings lowered AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. Finally, UBS Group set a $210.00 price objective on AppFolio in a report on Friday, April 24th. One research 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. Based on data from MarketBeat.com, AppFolio has a consensus rating of “Buy” and an average price target of $243.50.

About AppFolio

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.