Maurice Duca Sells 5,809 Shares of AppFolio (NASDAQ:APPF) Stock

AppFolio, Inc. (NASDAQ:APPF – Get Free Report) major shareholder Maurice Duca sold 5,809 shares of AppFolio stock in a transaction on Friday, August 7th. The shares were sold at an average price of $198.44, for a total value of $1,152,737.96. Following the sale, the insider directly owned 22,624 shares in the company, valued at $4,489,506.56. The trade was a 20.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 stock are required to disclose their transactions with the SEC.

AppFolio Stock Performance

Shares of NASDAQ:APPF traded up $0.80 on Monday, hitting $199.54. The company’s stock had a trading volume of 504,187 shares, compared to its average volume of 395,354. The company has a market capitalization of $7.07 billion, a price-to-earnings ratio of 45.56 and a beta of 0.78. AppFolio, Inc. has a 12 month low of $142.56 and a 12 month high of $290.55. The stock’s 50-day moving average is $169.70 and its two-hundred day moving average is $170.96.

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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 earnings per share for the quarter, topping 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 firm had revenue of $281.12 million for the quarter, compared to analysts’ expectations of $277.35 million. During the same period in the previous year, the company posted $1.38 EPS. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. Equities analysts expect that AppFolio, Inc. will post 5.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on APPF shares. DA Davidson set a $225.00 price target on AppFolio in a research report on Friday, July 24th. Wall Street Zen lowered AppFolio from a “buy” rating to a “hold” rating in a research report on Sunday, July 26th. Benchmark lifted their target price on AppFolio from $222.00 to $226.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Guggenheim initiated coverage on AppFolio in a research note on Wednesday, July 22nd. They set a “buy” rating and a $232.00 target price on the stock. Finally, Zacks Research upgraded AppFolio from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, AppFolio currently has an average rating of “Buy” and a consensus target price of $243.50.

Check Out Our Latest Report on APPF

Hedge Funds Weigh In On AppFolio

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of AppFolio by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 2,560,460 shares of the software maker’s stock worth $595,691,000 after acquiring an additional 101,466 shares during the last quarter. Principal Financial Group Inc. grew its stake in AppFolio by 20.9% in the first quarter. Principal Financial Group Inc. now owns 1,505,882 shares of the software maker’s stock valued at $237,665,000 after purchasing an additional 259,933 shares in the last quarter. State Street Corp increased its position in AppFolio by 1.1% in the 4th quarter. State Street Corp now owns 685,656 shares of the software maker’s stock worth $159,518,000 after purchasing an additional 7,585 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of AppFolio by 17.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 669,317 shares of the software maker’s stock worth $155,717,000 after purchasing an additional 98,230 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its holdings in shares of AppFolio by 15.6% during the 4th quarter. William Blair Investment Management LLC now owns 638,241 shares of the software maker’s stock valued at $148,487,000 after buying an additional 86,272 shares during the last quarter. 85.19% of the stock is currently owned by hedge funds and other institutional investors.

About AppFolio

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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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