Maurice J. Duca Sells 2,701 Shares of AppFolio, Inc. (NASDAQ:APPF) Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice J. Duca sold 2,701 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $240.08, for a total value of $648,456.08. Following the completion of the transaction, the insider now owns 5,452 shares in the company, valued at $1,308,916.16. This trade represents a 33.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

AppFolio Stock Up 3.6 %

NASDAQ:APPF opened at $251.06 on Tuesday. The firm’s fifty day simple moving average is $223.34 and its 200-day simple moving average is $230.86. The stock has a market cap of $9.12 billion, a PE ratio of 69.93 and a beta of 0.83. AppFolio, Inc. has a fifty-two week low of $164.29 and a fifty-two week high of $274.56.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.26. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The company had revenue of $206.00 million for the quarter, compared to analyst estimates of $199.11 million. During the same period in the prior year, the business posted $0.26 earnings per share. The firm’s revenue for the quarter was up 24.5% compared to the same quarter last year. Equities analysts anticipate that AppFolio, Inc. will post 3.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. StockNews.com lowered AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd. Piper Sandler dropped their price objective on shares of AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Keefe, Bruyette & Woods cut shares of AppFolio from a “market perform” rating to an “underperform” rating and reduced their target price for the stock from $255.00 to $193.00 in a research note on Tuesday, October 15th. Finally, KeyCorp lowered their target price on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. 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 company’s stock. Based on data from MarketBeat.com, AppFolio currently has a consensus rating of “Moderate Buy” and a consensus target price of $261.75.

Hedge Funds Weigh In On AppFolio

Several hedge funds have recently bought and sold shares of APPF. Blue Trust Inc. boosted its position in AppFolio by 85.7% during the third quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock worth $29,000 after purchasing an additional 54 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of AppFolio by 589.5% in 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 in the last quarter. CWM LLC boosted its position in shares of AppFolio by 238.6% in the 2nd quarter. CWM LLC now owns 149 shares of the software maker’s stock worth $36,000 after buying an additional 105 shares in the last quarter. Advisors Asset Management Inc. grew its stake in AppFolio by 291.3% in the 1st quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock valued at $44,000 after acquiring an additional 134 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in AppFolio by 688.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock worth $52,000 after acquiring an additional 186 shares during the last quarter. 62.34% of the stock is owned by hedge funds and other institutional investors.

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.