Maurice Duca Sells 5,442 Shares of AppFolio (NASDAQ:APPF) Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice Duca sold 5,442 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $201.13, for a total value of $1,094,549.46. Following the sale, the insider directly owned 73,132 shares in the company, valued at $14,709,039.16. This represents a 6.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 Stock Performance

NASDAQ APPF opened at $203.97 on Friday. The firm has a market capitalization of $7.22 billion, a P/E ratio of 46.57 and a beta of 0.78. The stock has a 50-day simple moving average of $172.09 and a two-hundred day simple moving average of $170.49. AppFolio, Inc. has a fifty-two week low of $142.56 and a fifty-two week high of $288.73.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on APPF. KeyCorp reaffirmed an “overweight” rating on shares of AppFolio in a report on Monday, July 6th. UBS Group set a $210.00 price target on shares of AppFolio in a report on Friday, April 24th. Weiss Ratings upgraded shares of AppFolio from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. Wall Street Zen cut shares of AppFolio from a “buy” rating to a “hold” rating in a report on Sunday, July 26th. Finally, Guggenheim assumed coverage on shares of AppFolio in a research report on Wednesday, July 22nd. They issued a “buy” rating and a $232.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $243.50.

Key AppFolio News

Here are the key news stories impacting AppFolio this week:

• Positive Sentiment: AppFolio’s latest quarter exceeded expectations: earnings reached $1.71 per share versus the $1.69 consensus estimate, while revenue of $281.12 million surpassed forecasts of $277.35 million. Revenue grew 19.3% year over year, and analysts expect full-year earnings of approximately $5.16 per share. AppFolio quarterly results
• Positive Sentiment: Analyst coverage remains constructive. AppFolio carries a consensus “Buy” rating and an average price target of $243.50, with Guggenheim initiating coverage at “Buy” and Benchmark raising its target to $226. AppFolio analyst ratings
• Positive Sentiment: Institutional ownership provides additional support: 85.19% of shares are held by institutions and hedge funds, while Vanguard, Principal Financial, T. Rowe Price and William Blair recently increased their positions. AppFolio institutional ownership
• Neutral Sentiment: Major shareholder Maurice J. Duca sold 17,900 shares for approximately $3.57 million across August 10–11. The transactions were executed under a pre-arranged Rule 10b5-1 plan, making them a less clear indicator of current confidence in AppFolio’s outlook. SEC filing for Maurice Duca
• Neutral Sentiment: General Counsel Evan Pickering sold 463 shares, while insider Don Rigler sold 150 shares. These sales were also made through pre-arranged plans, primarily to cover tax withholding on vested equity awards. SEC filings for AppFolio insider sales
• Negative Sentiment: Despite its growth, APPF trades at a relatively demanding valuation, with a price-to-earnings ratio near 45. Repeated insider selling could create a short-term overhang, while Piper Sandler’s lower $210 target and Wall Street Zen’s downgrade to “Hold” highlight downside risks if growth or execution weakens.

Institutional Investors Weigh In On AppFolio

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. M&T Bank Corp raised its position in shares of AppFolio by 1,643.8% in the fourth quarter. M&T Bank Corp now owns 96,153 shares of the software maker’s stock valued at $22,370,000 after buying an additional 90,639 shares during the last quarter. Vanguard Group Inc. boosted its position in AppFolio by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 2,560,460 shares of the software maker’s stock worth $595,691,000 after acquiring an additional 101,466 shares during the last quarter. Riverbridge Partners LLC acquired a new position in AppFolio during the first quarter worth about $13,906,000. Quantum Capital Management LLC NJ purchased a new stake in AppFolio during the 4th quarter valued at about $7,995,000. Finally, Principal Financial Group Inc. grew its stake in AppFolio by 6.8% during the 4th quarter. Principal Financial Group Inc. now owns 1,245,949 shares of the software maker’s stock valued at $289,880,000 after acquiring an additional 79,197 shares in the last quarter. Hedge funds and other institutional investors own 85.19% of the company’s stock.

About AppFolio

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.