AppFolio (NASDAQ:APPF) Major Shareholder Sells 7,200 Shares of Stock

AppFolio, Inc. (NASDAQ:APPF – Get Free Report) major shareholder Maurice Duca sold 7,200 shares of the company’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $180.27, for a total value of $1,297,944.00. Following the sale, the insider directly owned 30,624 shares of the company’s stock, valued at approximately $5,520,588.48. This represents a 19.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

AppFolio Stock Performance

Shares of NASDAQ:APPF traded up $7.84 during midday trading on Tuesday, reaching $199.53. The company had a trading volume of 631,064 shares, compared to its average volume of 394,211. The company has a fifty day simple moving average of $166.93 and a two-hundred day simple moving average of $171.55. The firm has a market cap of $7.07 billion, a price-to-earnings ratio of 45.55 and a beta of 0.78. AppFolio, Inc. has a 1-year low of $142.56 and a 1-year high of $323.33.

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AppFolio (NASDAQ:APPF – Get Free Report) last posted 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. AppFolio had a net margin of 15.13% and a return on equity of 32.42%. The company had revenue of $281.12 million during the quarter, compared to analyst estimates of $277.35 million. During the same period in the prior year, the firm earned $1.38 earnings per share. The business’s quarterly revenue was up 19.3% on a year-over-year basis. Analysts expect that AppFolio, Inc. will post 5.16 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in APPF. Royal Bank of Canada lifted its position in AppFolio by 22.6% in the 1st quarter. Royal Bank of Canada now owns 45,452 shares of the software maker’s stock worth $9,993,000 after buying an additional 8,367 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of AppFolio by 23.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 384 shares of the software maker’s stock worth $84,000 after acquiring an additional 73 shares in the last quarter. Millennium Management LLC raised its holdings in shares of AppFolio by 237.7% during the first quarter. Millennium Management LLC now owns 18,055 shares of the software maker’s stock worth $3,970,000 after acquiring an additional 12,709 shares in the last quarter. Jones Financial Companies Lllp boosted its position in AppFolio by 164.8% during the first quarter. Jones Financial Companies Lllp now owns 654 shares of the software maker’s stock valued at $144,000 after purchasing an additional 407 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in AppFolio by 322.5% during the first quarter. Goldman Sachs Group Inc. now owns 66,777 shares of the software maker’s stock valued at $14,684,000 after purchasing an additional 50,970 shares during the last quarter. 85.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

APPF has been the subject of several research analyst reports. Weiss Ratings downgraded shares of AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. UBS Group set a $210.00 target price on shares of AppFolio in a research note on Friday, April 24th. KeyCorp restated an “overweight” rating on shares of AppFolio in a report on Monday, July 6th. Guggenheim started coverage on AppFolio in a research report on Wednesday, July 22nd. They issued a “buy” rating and a $232.00 target price for the company. Finally, Piper Sandler lowered their price target on AppFolio from $245.00 to $210.00 and set an “overweight” rating on the stock in a report on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, AppFolio presently has an average rating of “Buy” and a consensus price target of $243.50.

Read Our Latest Stock Report on APPF

AppFolio Company Profile

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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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