Maurice Duca Sells 5,442 Shares of AppFolio (NASDAQ:APPF) Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice Duca sold 5,442 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $201.13, for a total transaction of $1,094,549.46. Following the completion of the sale, the insider directly owned 73,132 shares of the company’s stock, valued at approximately $14,709,039.16. This trade represents a 6.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 sales and purchases with the SEC.

AppFolio Price Performance

Shares of APPF stock traded down $6.25 during trading on Wednesday, hitting $196.77. 665,842 shares of the stock traded hands, compared to its average volume of 397,303. The firm has a market capitalization of $6.97 billion, a P/E ratio of 44.92 and a beta of 0.78. The firm’s fifty day moving average price is $170.67 and its 200-day moving average price is $170.78. AppFolio, Inc. has a 52-week low of $142.56 and a 52-week high of $288.73.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data 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 firm had revenue of $281.12 million for 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 quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.38 earnings per share. As a group, equities research analysts expect that AppFolio, Inc. will post 5.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on APPF. KeyCorp reiterated an “overweight” rating on shares of AppFolio in a report on Monday, July 6th. Benchmark boosted their price objective on shares of AppFolio from $222.00 to $226.00 and gave the company a “buy” rating in a report on Friday, April 24th. Guggenheim initiated coverage on shares of AppFolio in a research report on Wednesday, July 22nd. They issued a “buy” rating and a $232.00 target price on the stock. Zacks Research raised shares of AppFolio from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. Finally, Wall Street Zen cut shares of AppFolio from a “buy” rating to a “hold” rating in a research report on Sunday, July 26th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $243.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of APPF. EverSource Wealth Advisors LLC grew its stake in shares of AppFolio by 101.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock valued at $26,000 after buying an additional 56 shares in the last quarter. Optiver Holding B.V. lifted its stake 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 in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in AppFolio by 48.8% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker’s stock valued at $53,000 after acquiring an additional 63 shares during the period. Advisory Services Network LLC purchased a new position in AppFolio during the 3rd quarter valued at about $55,000. Finally, Employees Retirement System of Texas acquired a new position in AppFolio in the 3rd quarter valued at about $58,000. 85.19% of the stock is currently owned by hedge funds and other institutional investors.

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.