Maurice J. Duca Sells 60 Shares of AppFolio, Inc. (NASDAQ:APPF) Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 60 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $254.48, for a total value of $15,268.80. Following the sale, the insider now directly owns 5 shares of the company’s stock, valued at approximately $1,272.40. The trade was a 92.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

AppFolio Stock Performance

Shares of APPF stock opened at $254.82 on Friday. AppFolio, Inc. has a 52-week low of $164.29 and a 52-week high of $274.56. The stock has a market cap of $9.26 billion, a price-to-earnings ratio of 70.98 and a beta of 0.83. The firm’s 50-day moving average is $224.38 and its 200-day moving average is $231.08.

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

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On AppFolio

A number of large investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its holdings in AppFolio by 85.7% in the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock valued at $29,000 after acquiring an additional 54 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of AppFolio by 589.5% during the 2nd 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 last quarter. CWM LLC boosted its stake in shares of AppFolio by 238.6% in the 2nd quarter. CWM LLC now owns 149 shares of the software maker’s stock valued at $36,000 after purchasing an additional 105 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of AppFolio by 291.3% during the 1st 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 during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of AppFolio by 688.9% during 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 during the last quarter. Institutional investors and hedge funds 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.