Insider Selling: AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Sells $529,864.74 in Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 2,274 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $233.01, for a total transaction of $529,864.74. Following the transaction, the insider now owns 19,122 shares in the company, valued at $4,455,617.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

AppFolio Trading Up 0.7 %

NASDAQ APPF opened at $228.28 on Friday. The stock has a market capitalization of $8.27 billion, a price-to-earnings ratio of 110.28 and a beta of 0.81. The business’s 50 day moving average is $235.90 and its two-hundred day moving average is $233.91. AppFolio, Inc. has a 12-month low of $164.29 and a 12-month high of $274.56.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Thursday, July 25th. The software maker reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.16. AppFolio had a return on equity of 27.39% and a net margin of 17.32%. The firm had revenue of $197.38 million for the quarter, compared to analyst estimates of $190.57 million. During the same quarter in the prior year, the company posted ($0.53) earnings per share. AppFolio’s quarterly revenue was up 34.2% on a year-over-year basis. Equities analysts forecast that AppFolio, Inc. will post 3.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Piper Sandler Companies reissued an “overweight” rating and set a $300.00 price objective on shares of AppFolio in a research report on Friday, July 26th. KeyCorp boosted their price target on AppFolio from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Piper Sandler upped their price objective on AppFolio from $295.00 to $300.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. StockNews.com downgraded AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Finally, JPMorgan Chase & Co. upped their price target on AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $277.75.

Hedge Funds Weigh In On AppFolio

Large investors have recently made changes to their positions in the stock. GAMMA Investing LLC grew its position in AppFolio by 589.5% during the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after buying an additional 112 shares during the period. CWM LLC boosted its stake in shares of AppFolio by 238.6% during the 2nd quarter. CWM LLC now owns 149 shares of the software maker’s stock worth $36,000 after acquiring an additional 105 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of AppFolio by 291.3% in the 1st quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock worth $44,000 after acquiring an additional 134 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in AppFolio by 688.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock valued at $52,000 after purchasing an additional 186 shares in the last quarter. Finally, Quarry LP raised its holdings in AppFolio by 147.9% during the second quarter. Quarry LP now owns 238 shares of the software maker’s stock worth $58,000 after purchasing an additional 142 shares during the last quarter. Hedge funds and other institutional investors own 62.34% of the company’s stock.

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.