AppFolio (NASDAQ:APPF) Major Shareholder Sells 7,200 Shares of Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice Duca sold 7,200 shares of the stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $180.32, for a total transaction of $1,298,304.00. Following the completion of the transaction, the insider owned 42,400 shares of the company’s stock, valued at approximately $7,645,568. This represents a 14.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

AppFolio Price Performance

Shares of AppFolio stock traded down $1.17 during trading on Thursday, hitting $175.31. 272,443 shares of the company’s stock traded hands, compared to its average volume of 351,871. The company has a market cap of $6.20 billion, a PE ratio of 41.74 and a beta of 0.79. The firm’s fifty day moving average price is $162.20 and its 200 day moving average price is $178.27. AppFolio, Inc. has a twelve month low of $142.56 and a twelve month high of $326.04.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, April 23rd. The software maker reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.14. The firm had revenue of $262.21 million during the quarter, compared to analysts’ expectations of $258.13 million. AppFolio had a net margin of 15.27% and a return on equity of 32.35%. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.21 earnings per share. As a group, equities research analysts anticipate that AppFolio, Inc. will post 5.04 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in APPF. EverSource Wealth Advisors LLC grew its position in shares of AppFolio by 101.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock worth $26,000 after buying an additional 56 shares during the period. Optiver Holding B.V. lifted its holdings in AppFolio by 827.8% in the first quarter. Optiver Holding B.V. now owns 167 shares of the software maker’s stock valued at $26,000 after buying an additional 149 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in AppFolio by 48.8% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker’s stock valued at $53,000 after buying an additional 63 shares during the period. Advisory Services Network LLC bought a new position in AppFolio in the third quarter valued at approximately $55,000. Finally, Employees Retirement System of Texas bought a new position in AppFolio in the third quarter valued at approximately $58,000. 85.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Benchmark increased their price target on shares of AppFolio from $222.00 to $226.00 and gave the company a “buy” rating in a research note on Friday, April 24th. UBS Group set a $210.00 price objective on shares of AppFolio in a research report on Friday, April 24th. Piper Sandler reduced their price objective on AppFolio from $245.00 to $210.00 and set an “overweight” rating on the stock in a report on Friday, April 24th. KeyCorp reaffirmed an “overweight” rating on shares of AppFolio in a report on Monday. Finally, Wall Street Zen lowered AppFolio from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $252.29.

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.