Maurice Duca Sells 7,200 Shares of AppFolio (NASDAQ:APPF) Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice Duca sold 7,200 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $217.77, for a total value of $1,567,944.00. Following the transaction, the insider directly owned 8,224 shares in the company, valued at $1,790,940.48. This trade represents a 46.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

AppFolio Stock Down 0.9%

Shares of AppFolio stock opened at $223.05 on Wednesday. The stock has a market cap of $7.90 billion, a P/E ratio of 50.92 and a beta of 0.78. AppFolio, Inc. has a 12-month low of $142.56 and a 12-month high of $288.73. The business’s 50 day moving average is $180.17 and its 200-day moving average is $171.17.

AppFolio (NASDAQ:APPF) last released its earnings results on Thursday, July 23rd. The software maker reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.02. The business had revenue of $281.12 million during the quarter, compared to analysts’ expectations of $277.35 million. AppFolio had a net margin of 15.13% and a return on equity of 32.42%. The firm’s revenue was up 19.3% on a year-over-year basis. During the same period last year, the business earned $1.38 earnings per share. On average, sell-side analysts expect that AppFolio, Inc. will post 5.17 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on APPF. KeyCorp restated an “overweight” rating on shares of AppFolio in a research note on Monday, July 6th. Zacks Research upgraded AppFolio from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. Weiss Ratings upgraded AppFolio from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Wall Street Zen downgraded AppFolio from a “buy” rating to a “hold” rating in a research report on Sunday, July 26th. Finally, Guggenheim started coverage on AppFolio in a research note on Wednesday, July 22nd. They issued a “buy” rating and a $232.00 price objective 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 given a Hold rating to the company. According to MarketBeat.com, AppFolio has a consensus rating of “Buy” and a consensus target price of $243.50.

Hedge Funds Weigh In On AppFolio

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

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.