AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Sells $729,450.00 in Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $243.15, for a total value of $729,450.00. Following the completion of the sale, the insider now directly owns 17,491 shares of the company’s stock, valued at approximately $4,252,936.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 %

AppFolio stock opened at $249.97 on Thursday. AppFolio, Inc. has a 52 week low of $164.29 and a 52 week high of $256.73. The company’s 50 day moving average price is $237.06 and its two-hundred day moving average price is $221.17. The stock has a market cap of $9.05 billion, a P/E ratio of 120.76 and a beta of 0.80.

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

Institutional Investors Weigh In On AppFolio

A number of hedge funds have recently made changes to their positions in the business. Norges Bank bought a new position in AppFolio during the fourth quarter valued at about $38,458,000. Zeno Equity Partners LLP purchased a new position in AppFolio in the fourth quarter valued at about $33,434,000. Principal Financial Group Inc. grew its position in shares of AppFolio by 2,359.8% during the 1st quarter. Principal Financial Group Inc. now owns 151,646 shares of the software maker’s stock valued at $37,417,000 after acquiring an additional 145,481 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of AppFolio by 344.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 155,127 shares of the software maker’s stock worth $38,276,000 after purchasing an additional 120,246 shares during the last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of AppFolio in the 4th quarter worth approximately $18,636,000. 62.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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