AppFolio (NASDAQ:APPF) Major Shareholder Maurice Duca Sells 3,200 Shares of Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice Duca sold 3,200 shares of AppFolio stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $240.07, for a total transaction of $768,224.00. Following the completion of the sale, the insider owned 4,800 shares of the company’s stock, valued at approximately $1,152,336. The trade was a 40.00% decrease in their ownership of the stock. The transaction 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. Major 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 traded down $2.48 during trading on Friday, hitting $230.74. The company had a trading volume of 332,237 shares, compared to its average volume of 386,805. The firm has a market capitalization of $8.18 billion, a P/E ratio of 48.68 and a beta of 0.87. The stock’s 50-day moving average price is $212.61 and its 200 day moving average price is $184.11. AppFolio, Inc. has a one year low of $142.56 and a one year high of $257.57.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Thursday, October 22nd. The software maker reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.03. AppFolio had a return on equity of 33.56% and a net margin of 15.62%. The business had revenue of $295.69 million for the quarter, compared to the consensus estimate of $294.46 million. During the same quarter in the prior year, the business posted $1.31 earnings per share. The firm’s quarterly revenue was up 18.5% compared to the same quarter last year. On average, research analysts anticipate that AppFolio, Inc. will post 5.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AppFolio

A number of institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its position in AppFolio by 20.9% in the first quarter. Principal Financial Group Inc. now owns 1,505,882 shares of the software maker’s stock valued at $237,665,000 after buying an additional 259,933 shares in the last quarter. William Blair Investment Management LLC grew its stake in shares of AppFolio by 15.8% during the third quarter. William Blair Investment Management LLC now owns 836,167 shares of the software maker’s stock worth $167,668,000 after buying an additional 114,341 shares during the last quarter. Nellore Capital Management LLC increased its holdings in shares of AppFolio by 2.9% during the second quarter. Nellore Capital Management LLC now owns 654,865 shares of the software maker’s stock worth $105,008,000 after buying an additional 18,563 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of AppFolio by 6.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 384,529 shares of the software maker’s stock worth $60,686,000 after buying an additional 23,428 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of AppFolio by 21.7% in the 1st quarter. Bank of America Corp DE now owns 345,603 shares of the software maker’s stock valued at $54,543,000 after acquiring an additional 61,641 shares during the last quarter. 85.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on APPF. Wall Street Zen lowered AppFolio from a “buy” rating to a “hold” rating in a report on Sunday, July 26th. Guggenheim boosted their price target on AppFolio from $232.00 to $239.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. Weiss Ratings raised shares of AppFolio from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Zacks Research downgraded shares of AppFolio from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 23rd. Finally, DA Davidson lifted their price target on AppFolio from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $250.00.

About AppFolio

AppFolio, Inc is a cloud-based software company that provides technology solutions for the real estate industry. Its platform is designed primarily for property management businesses, helping them manage accounting, leasing, maintenance, communications, payments, reporting and other operational activities through a centralized system.

The company’s products serve a range of property managers, including those overseeing residential, commercial, community association, student housing and senior living properties.