Maurice J. Duca Sells 1,842 Shares of AppFolio, Inc. (NASDAQ:APPF) Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 1,842 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $235.71, for a total value of $434,177.82. Following the transaction, the insider now directly owns 12,874 shares of the company’s stock, valued at $3,034,530.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

AppFolio Stock Up 0.9 %

Shares of NASDAQ:APPF opened at $236.32 on Friday. AppFolio, Inc. has a 12-month low of $164.29 and a 12-month high of $274.56. The business has a 50 day moving average of $228.51 and a 200-day moving average of $233.37. The stock has a market cap of $8.56 billion, a PE ratio of 114.16 and a beta of 0.81.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, July 25th. The software maker reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.16. The business had revenue of $197.38 million during the quarter, compared to the consensus estimate of $190.57 million. AppFolio had a return on equity of 27.39% and a net margin of 17.32%. The firm’s quarterly revenue was up 34.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.53) EPS. Equities research analysts expect that AppFolio, Inc. will post 3.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on APPF. KeyCorp increased their price objective on AppFolio from $275.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, July 26th. DA Davidson increased their price target on shares of AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. boosted their price objective on shares of AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. StockNews.com downgraded shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Finally, Piper Sandler Companies reissued an “overweight” rating and set a $300.00 price target on shares of AppFolio in a research report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, AppFolio presently has an average rating of “Moderate Buy” and an average target price of $277.75.

Hedge Funds Weigh In On AppFolio

Several institutional investors and hedge funds have recently modified their holdings of the business. Gordian Capital Singapore Pte Ltd bought a new stake in AppFolio in the 2nd quarter valued at about $265,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of AppFolio in the second quarter valued at approximately $1,646,000. Truist Financial Corp boosted its stake in shares of AppFolio by 12.8% in the second quarter. Truist Financial Corp now owns 2,467 shares of the software maker’s stock valued at $603,000 after buying an additional 280 shares during the period. Quarry LP grew its position 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 buying an additional 142 shares in the last quarter. Finally, Capital Impact Advisors LLC bought a new position in AppFolio during the 2nd quarter worth $738,000. 62.34% of the stock is currently owned by institutional investors and hedge funds.

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.