Maurice Duca Sells 3,500 Shares of AppFolio (NASDAQ:APPF) Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice Duca sold 3,500 shares of AppFolio stock in a transaction dated Friday, July 17th. The shares were sold at an average price of $181.84, for a total transaction of $636,440.00. Following the sale, the insider owned 81,680 shares of the company’s stock, valued at approximately $14,852,691.20. This represents a 4.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

AppFolio Stock Performance

Shares of APPF stock opened at $186.99 on Thursday. The firm has a market cap of $6.61 billion, a P/E ratio of 42.69 and a beta of 0.79. The firm’s 50 day moving average price is $165.82 and its 200-day moving average price is $172.41. AppFolio, Inc. has a one year low of $142.56 and a one year high of $326.04.

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

Analysts Set New Price Targets

Several brokerages recently weighed in on APPF. KeyCorp reaffirmed an “overweight” rating on shares of AppFolio in a research note on Monday, July 6th. Piper Sandler cut their price objective on AppFolio from $245.00 to $210.00 and set an “overweight” rating on the stock in a research report on Friday, April 24th. Weiss Ratings cut AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. Benchmark boosted their target price on AppFolio from $222.00 to $226.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Finally, DA Davidson set a $225.00 price target on AppFolio in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $243.50.

Institutional Investors Weigh In On AppFolio

Institutional investors have recently modified their holdings of the company. Woodline Partners LP increased its holdings in AppFolio by 2.9% in 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 during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in AppFolio by 101.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock worth $26,000 after buying an additional 56 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its position in shares of AppFolio by 4.8% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 1,263 shares of the software maker’s stock worth $348,000 after acquiring an additional 58 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of AppFolio by 48.8% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker’s stock worth $53,000 after acquiring an additional 63 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC raised its position in shares of AppFolio by 1.3% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 5,162 shares of the software maker’s stock worth $1,201,000 after acquiring an additional 64 shares in the last quarter. 85.19% of the stock is owned by hedge funds and other institutional investors.

More AppFolio News

Here are the key news stories impacting AppFolio this week:

• Positive Sentiment: Zacks upgraded AppFolio to Rank #1 (Strong Buy), citing growing optimism around the company’s earnings prospects. The upgrade may be supporting renewed buying interest. AppFolio upgraded to Strong Buy
• Positive Sentiment: Zacks also characterized APPF as a solid growth stock, pointing to growth attributes that could support attractive long-term returns. AppFolio’s latest quarterly results showed revenue growth of 19.3% year over year, with earnings and revenue modestly exceeding consensus estimates. AppFolio growth stock analysis
• Positive Sentiment: Wall Street’s average price target implies approximately 25.5% potential upside from recent levels. While price targets are not guarantees, analysts’ positive earnings-estimate revisions provide an additional bullish signal. AppFolio analyst price target
• Positive Sentiment: APPF recently moved above its 20-day moving average, suggesting improving short-term momentum and helping reinforce the bullish trading narrative. AppFolio technical breakout
• Neutral Sentiment: Analyst coverage remains broadly favorable, with a consensus “Buy” rating and several targets above the current market level. However, one research firm recently downgraded the stock to “Hold,” while Piper Sandler lowered its target, highlighting valuation and execution risks.
• Negative Sentiment: Major shareholder Maurice Duca disclosed sales totaling 12,500 shares for roughly $2.27 million across July 17 and July 20. The transactions were made under a pre-arranged Rule 10b5-1 plan, which reduces their significance as a discretionary bearish signal, but insider selling can still weigh modestly on sentiment. AppFolio major shareholder share sales

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.