Maurice Duca Sells 7,200 Shares of AppFolio (NASDAQ:APPF) Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice Duca sold 7,200 shares of the firm’s stock in a transaction on Monday, July 13th. The shares were sold at an average price of $180.15, for a total value of $1,297,080.00. Following the completion of the sale, the insider owned 40,700 shares of the company’s stock, valued at approximately $7,332,105. This trade represents a 15.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

AppFolio Trading Down 3.0%

NASDAQ APPF traded down $5.44 on Tuesday, hitting $174.46. 239,051 shares of the company were exchanged, compared to its average volume of 386,416. The firm has a 50 day moving average of $162.66 and a two-hundred day moving average of $177.45. The company has a market cap of $6.17 billion, a P/E ratio of 41.54 and a beta of 0.79. AppFolio, Inc. has a 1-year low of $142.56 and a 1-year high of $326.04.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Thursday, April 23rd. The software maker reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.14. AppFolio had a net margin of 15.27% and a return on equity of 32.35%. The firm had revenue of $262.21 million for the quarter, compared to analyst estimates of $258.13 million. During the same quarter in the prior year, the firm earned $1.21 EPS. The company’s revenue was up 20.7% on a year-over-year basis. Research analysts anticipate that AppFolio, Inc. will post 5.04 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on APPF shares. Wall Street Zen downgraded AppFolio from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. UBS Group set a $210.00 price target on AppFolio in a report on Friday, April 24th. KeyCorp reissued an “overweight” rating on shares of AppFolio in a report on Monday, July 6th. Piper Sandler reduced their target price on shares of AppFolio from $245.00 to $210.00 and set an “overweight” rating on the stock in a research note on Friday, April 24th. Finally, Benchmark lifted 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. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $252.29.

Institutional Investors Weigh In On AppFolio

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its holdings in AppFolio by 20.9% during the first quarter. Principal Financial Group Inc. now owns 1,505,882 shares of the software maker’s stock worth $237,665,000 after buying an additional 259,933 shares during the last quarter. Lead Edge Capital Management LLC acquired a new stake in shares of AppFolio in the 1st quarter valued at approximately $33,183,000. Hudson Way Capital Management LLC bought a new position in AppFolio during the 3rd quarter worth approximately $53,367,000. Greenstone Partners & Co. LLC bought a new position in AppFolio during the 4th quarter worth approximately $43,647,000. Finally, Millennium Management LLC grew its holdings in AppFolio by 158.6% during the fourth quarter. Millennium Management LLC now owns 281,495 shares of the software maker’s stock valued at $65,490,000 after purchasing an additional 172,627 shares during the period. Institutional investors own 85.19% of the company’s stock.

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.