Maurice Duca Sells 2,656 Shares of AppFolio (NASDAQ:APPF) Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice Duca sold 2,656 shares of AppFolio stock in a transaction on Friday, August 21st. The stock was sold at an average price of $221.85, for a total transaction of $589,233.60. Following the sale, the insider owned 8,000 shares in the company, valued at $1,774,800. This represents a 24.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

AppFolio Price Performance

Shares of AppFolio stock opened at $223.05 on Wednesday. AppFolio, Inc. has a 52-week low of $142.56 and a 52-week high of $288.73. The firm has a market capitalization of $7.90 billion, a PE ratio of 50.92 and a beta of 0.78. The company’s fifty day moving average price is $180.17 and its two-hundred day moving average price is $171.17.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Thursday, July 23rd. The software maker reported $1.71 EPS for the quarter, topping 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 the consensus estimate of $277.35 million. During the same period last year, the firm earned $1.38 EPS. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. Analysts predict that AppFolio, Inc. will post 5.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. DA Davidson set a $225.00 price target on shares of AppFolio in a research note on Friday, July 24th. Zacks Research raised AppFolio from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. Wall Street Zen cut AppFolio from a “buy” rating to a “hold” rating in a report on Sunday, July 26th. KeyCorp restated an “overweight” rating on shares of AppFolio in a research report on Monday, July 6th. Finally, Guggenheim assumed coverage on AppFolio in a research note on Wednesday, July 22nd. They issued a “buy” rating and a $232.00 price target on the stock. Two equities 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $243.50.

Hedge Funds Weigh In On AppFolio

Several institutional investors have recently added to or reduced their stakes in APPF. EverSource Wealth Advisors LLC increased its holdings in shares of AppFolio by 101.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock worth $26,000 after buying an additional 56 shares in the last quarter. Optiver Holding B.V. raised its stake in shares of 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. boosted its holdings in shares of AppFolio by 48.8% in 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. Advisory Services Network LLC acquired a new position in shares of AppFolio in the 3rd quarter worth approximately $55,000. Finally, Employees Retirement System of Texas bought a new stake in AppFolio during the 3rd quarter worth approximately $58,000. 85.19% of the stock is owned by institutional investors.

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.