Insider Selling: AppFolio (NASDAQ:APPF) Major Shareholder Sells $324,000.00 in Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice Duca sold 1,800 shares of AppFolio stock in a transaction on Monday, July 20th. The stock was sold at an average price of $180.00, for a total value of $324,000.00. Following the sale, the insider directly owned 35,798 shares of the company’s stock, valued at $6,443,640. This represents a 4.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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

APPF stock opened at $176.02 on Friday. The company’s 50-day simple moving average is $166.09 and its 200 day simple moving average is $172.06. AppFolio, Inc. has a 52 week low of $142.56 and a 52 week high of $326.04. The company has a market capitalization of $6.22 billion, a PE ratio of 40.19 and a beta of 0.79.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on APPF. Guggenheim started coverage on AppFolio in a research report on Wednesday, July 22nd. They set a “buy” rating and a $232.00 price target on the stock. Weiss Ratings downgraded AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. Piper Sandler decreased their price target on AppFolio from $245.00 to $210.00 and set an “overweight” rating on the stock in a research report on Friday, April 24th. Wall Street Zen downgraded AppFolio from a “buy” rating to a “hold” rating in a research note on Sunday, July 26th. Finally, Zacks Research raised shares of AppFolio from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Two investment 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. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $243.50.

More AppFolio News

Here are the key news stories impacting AppFolio this week:

• Positive Sentiment: Zacks Research upgraded AppFolio from “Hold” to “Strong Buy,” citing improving earnings prospects. Zacks Research
• Positive Sentiment: The company’s latest quarterly results exceeded expectations, with earnings of $1.71 per share versus the $1.69 consensus estimate and revenue of $281.1 million versus $277.4 million. Revenue increased 19.3% year over year, while earnings rose from $1.38 per share a year earlier.
• Positive Sentiment: Analysts remain broadly optimistic: AppFolio carries a consensus “Buy” rating, and the average price target of $243.50 implies meaningful upside from recent trading levels. Guggenheim recently initiated coverage with a “Buy” rating and a $232 target, while DA Davidson set a $225 target.
• Neutral Sentiment: Institutional ownership remains high at approximately 85%, with several funds increasing their positions or initiating new stakes during the second quarter. This suggests continued professional-investor interest, although it may not drive the immediate move.
• Negative Sentiment: Major shareholder Maurice J. Duca disclosed multiple sales totaling 13,200 shares worth roughly $2.4 million on July 28 and July 30. The transactions reduced his reported holdings, but they were executed under a pre-arranged Rule 10b5-1 trading plan, which lessens their significance as a signal of current business conditions. SEC insider transaction filing

Hedge Funds Weigh In On AppFolio

Several hedge funds and other institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its position in shares of 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. Optiver Holding B.V. grew its position in AppFolio by 827.8% in the first quarter. Optiver Holding B.V. now owns 167 shares of the software maker’s stock valued at $26,000 after acquiring an additional 149 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in AppFolio by 48.8% during the third 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. Advisory Services Network LLC acquired a new position in AppFolio during the third quarter worth about $55,000. Finally, Employees Retirement System of Texas bought a new position in shares of AppFolio in the third quarter worth about $58,000. Institutional investors own 85.19% of the company’s stock.

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.