AppFolio (NASDAQ:APPF) Major Shareholder Maurice Duca Sells 7,200 Shares

AppFolio, Inc. (NASDAQ:APPF – Get Free Report) major shareholder Maurice Duca sold 7,200 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $196.93, for a total transaction of $1,417,896.00. Following the completion of the sale, the insider owned 17,824 shares of the company’s stock, valued at approximately $3,510,080.32. The trade was a 28.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 shares are required to disclose their sales and purchases with the SEC.

AppFolio Stock Up 0.1%

Shares of NASDAQ:APPF traded up $0.24 during trading on Friday, reaching $204.21. 265,096 shares of the company traded hands, compared to its average volume of 396,519. The firm has a fifty day simple moving average of $172.09 and a 200 day simple moving average of $170.49. AppFolio, Inc. has a 1-year low of $142.56 and a 1-year high of $288.73. The firm has a market cap of $7.23 billion, a P/E ratio of 46.62 and a beta of 0.78.

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AppFolio (NASDAQ:APPF – Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The software maker reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.02. The business had revenue of $281.12 million during the quarter, compared to analyst estimates of $277.35 million. AppFolio had a return on equity of 32.42% and a net margin of 15.13%.AppFolio’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period last year, the company earned $1.38 earnings per share. As a group, research analysts anticipate that AppFolio, Inc. will post 5.16 EPS for the current year.

Institutional Investors Weigh In On AppFolio

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

Analyst Ratings Changes

APPF has been the subject of a number of recent research reports. UBS Group set a $210.00 price target on AppFolio in a research note on Friday, April 24th. Guggenheim assumed coverage on shares of AppFolio in a research note on Wednesday, July 22nd. They set a “buy” rating and a $232.00 price target on the stock. Piper Sandler cut their price target on shares of AppFolio from $245.00 to $210.00 and set an “overweight” rating on the stock in a report on Friday, April 24th. Zacks Research raised shares of AppFolio from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. Finally, DA Davidson set a $225.00 price objective on shares of AppFolio in a report on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, AppFolio presently has a consensus rating of “Buy” and an average target price of $243.50.

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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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