Insider Selling: AppFolio (NASDAQ:APPF) Major Shareholder Sells 3,500 Shares

AppFolio, Inc. (NASDAQ:APPF – Get Free Report) major shareholder Maurice Duca sold 3,500 shares of AppFolio stock in a transaction on Friday, July 17th. The shares were sold at an average price of $181.84, for a total value of $636,440.00. Following the transaction, the insider owned 81,680 shares in the company, valued at approximately $14,852,691.20. This trade represents a 4.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

AppFolio Price Performance

Shares of APPF traded up $16.21 during midday trading on Tuesday, reaching $184.96. The stock had a trading volume of 184,358 shares, compared to its average volume of 390,546. The company has a market capitalization of $6.54 billion, a P/E ratio of 42.26 and a beta of 0.79. The firm’s 50 day moving average price is $164.98 and its 200-day moving average price is $173.02. AppFolio, Inc. has a 52 week low of $142.56 and a 52 week high of $326.04.

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AppFolio (NASDAQ:APPF – Get Free Report) last announced its earnings results on Thursday, July 23rd. The software maker reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.02. The business 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 company’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter last year, the business posted $1.38 earnings per share. On average, equities analysts forecast that AppFolio, Inc. will post 5.04 earnings per share for the current year.

Institutional Trading of AppFolio

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Woodline Partners LP lifted its stake in AppFolio by 2.9% during the first quarter. Woodline Partners LP now owns 1,754 shares of the software maker’s stock valued at $386,000 after buying an additional 50 shares in the last quarter. EverSource Wealth Advisors LLC increased its position 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 worth $26,000 after acquiring an additional 56 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of AppFolio by 4.8% during the third quarter. Mercer Global Advisors Inc. ADV now owns 1,263 shares of the software maker’s stock valued at $348,000 after acquiring an additional 58 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of AppFolio by 48.8% in 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 in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC lifted its position in shares of AppFolio by 1.3% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 5,162 shares of the software maker’s stock valued at $1,201,000 after acquiring an additional 64 shares in the last quarter. Institutional investors and hedge funds own 85.19% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Guggenheim assumed coverage on shares of AppFolio in a research note on Wednesday, July 22nd. They issued a “buy” rating and a $232.00 price objective on the stock. DA Davidson set a $225.00 target price on shares of AppFolio in a research note on Friday. Wall Street Zen cut shares of AppFolio from a “buy” rating to a “hold” rating in a report on Sunday. UBS Group set a $210.00 price target on shares of AppFolio in a research report on Friday, April 24th. Finally, Weiss Ratings cut AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $243.50.

Check Out Our Latest Stock Report on AppFolio

AppFolio Company Profile

(Get Free Report)

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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