Insider Selling: AppFolio (NASDAQ:APPF) Major Shareholder Sells $912,190.00 in Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice Duca sold 3,800 shares of AppFolio stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $240.05, for a total transaction of $912,190.00. Following the completion of the transaction, the insider directly owned 6,400 shares of the company’s stock, valued at $1,536,320. This trade represents a 37.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

AppFolio Price Performance

Shares of NASDAQ:APPF traded down $2.48 during trading on Friday, reaching $230.74. 332,237 shares of the company’s stock traded hands, compared to its average volume of 386,805. AppFolio, Inc. has a 12 month low of $142.56 and a 12 month high of $257.57. The company has a 50 day moving average of $212.61 and a 200-day moving average of $184.11. The stock has a market capitalization of $8.18 billion, a P/E ratio of 48.68 and a beta of 0.87.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Thursday, October 22nd. The software maker reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.03. AppFolio had a net margin of 15.62% and a return on equity of 33.56%. The firm had revenue of $295.69 million for the quarter, compared to analyst estimates of $294.46 million. During the same quarter in the prior year, the business earned $1.31 earnings per share. AppFolio’s quarterly revenue was up 18.5% on a year-over-year basis. Equities research analysts predict that AppFolio, Inc. will post 5.18 earnings per share for the current fiscal year.

Institutional Trading of AppFolio

Several large investors have recently added to or reduced their stakes in APPF. Optiver Holding B.V. boosted its position in AppFolio by 827.8% during the 1st quarter. Optiver Holding B.V. now owns 167 shares of the software maker’s stock worth $26,000 after acquiring an additional 149 shares during the period. Integrated Wealth Concepts LLC bought a new position in shares of AppFolio in the second quarter worth $36,000. Hilton Head Capital Partners LLC acquired a new position in shares of AppFolio during the third quarter valued at $40,000. Versant Capital Management Inc increased its holdings in shares of AppFolio by 169.0% during the second quarter. Versant Capital Management Inc now owns 452 shares of the software maker’s stock valued at $72,000 after purchasing an additional 284 shares during the period. Finally, Allworth Financial LP increased its holdings in shares of AppFolio by 103.3% during the third quarter. Allworth Financial LP now owns 374 shares of the software maker’s stock valued at $75,000 after purchasing an additional 190 shares during the period. 85.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

APPF has been the topic of a number of research reports. Guggenheim increased their price target on AppFolio from $232.00 to $239.00 and gave the stock a “buy” rating in a research report on Friday, October 23rd. Weiss Ratings upgraded AppFolio from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Keefe, Bruyette & Woods boosted their price objective on AppFolio from $233.00 to $255.00 and gave the company an “outperform” rating in a research report on Wednesday, October 21st. DA Davidson upped their price objective on AppFolio from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, October 23rd. Finally, Wall Street Zen lowered AppFolio from a “buy” rating to a “hold” rating in a research report on Sunday, July 26th. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, AppFolio currently has a consensus rating of “Moderate Buy” and an average price target of $250.00.

AppFolio Company Profile

AppFolio, Inc is a cloud-based software company that provides technology solutions for the real estate industry. Its platform is designed primarily for property management businesses, helping them manage accounting, leasing, maintenance, communications, payments, reporting and other operational activities through a centralized system.

The company’s products serve a range of property managers, including those overseeing residential, commercial, community association, student housing and senior living properties.