Maurice Duca Sells 3,500 Shares of AppFolio (NASDAQ:APPF) Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice Duca sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $193.05, for a total transaction of $675,675.00. Following the completion of the sale, the insider owned 56,162 shares in the company, valued at $10,842,074.10. The trade was a 5.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

AppFolio Trading Up 1.7%

APPF opened at $203.02 on Wednesday. The business’s 50 day moving average is $170.67 and its 200-day moving average is $170.78. The stock has a market cap of $7.19 billion, a PE ratio of 46.35 and a beta of 0.78. AppFolio, Inc. has a twelve month low of $142.56 and a twelve month high of $288.73.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Thursday, July 23rd. The software maker reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.02. AppFolio had a return on equity of 32.42% and a net margin of 15.13%.The business had revenue of $281.12 million during the quarter, compared to analyst estimates of $277.35 million. During the same period in the prior year, the company posted $1.38 EPS. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. As a group, analysts forecast that AppFolio, Inc. will post 5.16 EPS for the current year.

Hedge Funds Weigh In On AppFolio

Several hedge funds have recently modified their holdings of the company. Royal Bank of Canada lifted its holdings in shares of AppFolio by 22.6% in the first quarter. Royal Bank of Canada now owns 45,452 shares of the software maker’s stock valued at $9,993,000 after buying an additional 8,367 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in AppFolio by 23.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 384 shares of the software maker’s stock worth $84,000 after acquiring an additional 73 shares during the period. Millennium Management LLC grew its holdings in AppFolio by 237.7% during the first quarter. Millennium Management LLC now owns 18,055 shares of the software maker’s stock worth $3,970,000 after acquiring an additional 12,709 shares during the period. Jones Financial Companies Lllp raised its position in AppFolio by 164.8% in the first quarter. Jones Financial Companies Lllp now owns 654 shares of the software maker’s stock worth $144,000 after acquiring an additional 407 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in AppFolio by 322.5% in the first quarter. Goldman Sachs Group Inc. now owns 66,777 shares of the software maker’s stock worth $14,684,000 after acquiring an additional 50,970 shares in the last quarter. 85.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on APPF shares. Wall Street Zen lowered AppFolio from a “buy” rating to a “hold” rating in a report on Sunday, July 26th. Weiss Ratings downgraded shares of AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. Guggenheim initiated coverage on shares of AppFolio in a research report on Wednesday, July 22nd. They issued a “buy” rating and a $232.00 target price for the company. DA Davidson set a $225.00 target price on shares of AppFolio in a research note on Friday, July 24th. Finally, Benchmark boosted their price target on shares of AppFolio from $222.00 to $226.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $243.50.

AppFolio Company Profile

AppFolio, Inc is a Santa Barbara–based provider of cloud-based software solutions for the property management and legal industries. Founded in 2006 by former software executives, the company went public on the NASDAQ under the symbol APPF in 2015. Its original offering, AppFolio Property Manager, automates accounting, marketing, leasing, and maintenance functions for residential, commercial, student housing, and community association managers.

In 2019, AppFolio expanded its portfolio with the acquisition of MyCase, a web-based legal practice management platform for small to mid-size law firms.