Maurice J. Duca Sells 5,200 Shares of AppFolio, Inc. (NASDAQ:APPF) Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 5,200 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $244.93, for a total transaction of $1,273,636.00. Following the completion of the sale, the insider now directly owns 20,491 shares of the company’s stock, valued at $5,018,860.63. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

AppFolio Stock Up 1.1 %

APPF opened at $249.97 on Thursday. The firm has a market cap of $9.05 billion, a PE ratio of 120.76 and a beta of 0.80. The business has a fifty day simple moving average of $237.06 and a 200-day simple moving average of $221.17. AppFolio, Inc. has a fifty-two week low of $164.29 and a fifty-two week high of $256.73.

AppFolio (NASDAQ:APPF) last announced its earnings results on Thursday, April 25th. The software maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.59 by $0.09. The business had revenue of $187.43 million during the quarter, compared to the consensus estimate of $173.66 million. AppFolio had a return on equity of 13.51% and a net margin of 11.38%. On average, equities research analysts anticipate that AppFolio, Inc. will post 2.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in APPF. GAMMA Investing LLC raised its holdings in shares of AppFolio by 589.5% during the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock valued at $32,000 after acquiring an additional 112 shares during the period. Zeno Equity Partners LLP acquired a new stake in AppFolio during the 4th quarter valued at $30,000. Advisors Asset Management Inc. lifted its holdings in shares of AppFolio by 291.3% in the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock valued at $44,000 after purchasing an additional 134 shares in the last quarter. USA Financial Formulas acquired a new stake in shares of AppFolio in the fourth quarter worth $59,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of AppFolio during the fourth quarter valued at $64,000. 62.34% of the stock is currently owned by institutional investors and hedge funds.

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.