AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Maurice J. Duca Sells 4,203 Shares

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 4,203 shares of AppFolio stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $230.34, for a total value of $968,119.02. Following the sale, the insider now owns 45,447 shares in the company, valued at $10,468,261.98. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

AppFolio Price Performance

Shares of APPF stock opened at $238.62 on Wednesday. The stock has a market capitalization of $8.64 billion, a price-to-earnings ratio of 115.28 and a beta of 0.80. The company’s fifty day simple moving average is $233.35 and its two-hundred day simple moving average is $218.72. AppFolio, Inc. has a 1 year low of $162.32 and a 1 year high of $256.73.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Thursday, April 25th. The software maker reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.09. The business had revenue of $187.43 million for the quarter, compared to analysts’ expectations of $173.66 million. AppFolio had a return on equity of 13.51% and a net margin of 11.38%. Equities research analysts anticipate that AppFolio, Inc. will post 2.85 EPS for the current year.

Institutional Trading of AppFolio

A number of hedge funds and other institutional investors have recently bought and sold shares of APPF. Zeno Equity Partners LLP bought a new position in AppFolio in the 4th quarter valued at $30,000. Advisors Asset Management Inc. boosted its stake in AppFolio by 291.3% during the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock valued at $44,000 after buying an additional 134 shares during the period. USA Financial Formulas purchased a new position in AppFolio during the fourth quarter worth about $59,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of AppFolio in the 4th quarter valued at about $64,000. Finally, Headlands Technologies LLC bought a new stake in shares of AppFolio during the 4th quarter valued at about $85,000. Institutional investors own 62.34% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on APPF. Keefe, Bruyette & Woods lifted their price objective on shares of AppFolio from $215.00 to $238.00 and gave the stock a “market perform” rating in a research report on Friday, April 26th. Stephens reaffirmed an “overweight” rating and issued a $241.00 price target on shares of AppFolio in a report on Friday, April 26th. KeyCorp upped their price objective on AppFolio from $264.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Finally, Piper Sandler initiated coverage on AppFolio in a research report on Monday, June 10th. They issued an “overweight” rating and a $295.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, AppFolio currently has an average rating of “Moderate Buy” and a consensus target price of $248.71.

About AppFolio

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry in the United States. The company provides a cloud-based platform that enables users to automate and optimize common workflows; tools that assist with leasing, maintenance, and accounting; and other technology and services offered by third parties.