Maurice J. Duca Sells 2,577 Shares of AppFolio, Inc. (NASDAQ:APPF) Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 2,577 shares of AppFolio stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $250.75, for a total value of $646,182.75. Following the sale, the insider now owns 2,875 shares in the company, valued at $720,906.25. This represents a 47.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

AppFolio Stock Up 1.7 %

Shares of NASDAQ APPF opened at $255.40 on Wednesday. The firm’s 50-day moving average price is $223.34 and its two-hundred day moving average price is $230.86. AppFolio, Inc. has a 52-week low of $164.29 and a 52-week high of $274.56. The stock has a market capitalization of $9.28 billion, a P/E ratio of 71.14 and a beta of 0.83.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.26. The business had revenue of $206.00 million for the quarter, compared to the consensus estimate of $199.11 million. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The business’s revenue was up 24.5% on a year-over-year basis. During the same quarter last year, the business posted $0.26 EPS. As a group, equities research analysts expect that AppFolio, Inc. will post 3.23 earnings per share for the current year.

Hedge Funds Weigh In On AppFolio

Several hedge funds and other institutional investors have recently modified their holdings of APPF. Squarepoint Ops LLC lifted its position in AppFolio by 188.2% in the 2nd quarter. Squarepoint Ops LLC now owns 185,034 shares of the software maker’s stock valued at $45,254,000 after purchasing an additional 120,835 shares during the last quarter. Westwind Capital grew its position in AppFolio by 301.0% in the 2nd quarter. Westwind Capital now owns 149,240 shares of the software maker’s stock worth $3,650,000 after purchasing an additional 112,024 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in shares of AppFolio by 516.6% in the second quarter. Los Angeles Capital Management LLC now owns 109,850 shares of the software maker’s stock valued at $26,866,000 after purchasing an additional 92,034 shares during the period. FMR LLC raised its holdings in shares of AppFolio by 998.0% during the third quarter. FMR LLC now owns 60,894 shares of the software maker’s stock valued at $14,334,000 after buying an additional 55,348 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of AppFolio during the second quarter worth approximately $12,993,000. Institutional investors and hedge funds own 62.34% of the company’s stock.

Wall Street Analysts Forecast Growth

APPF has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods lowered shares of AppFolio from a “market perform” rating to an “underperform” rating and dropped their price target for the stock from $255.00 to $193.00 in a research note on Tuesday, October 15th. StockNews.com lowered shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Piper Sandler decreased their price target on AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Finally, KeyCorp cut their price objective on AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $261.75.

AppFolio Company Profile

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.