AppFolio (NASDAQ:APPF) Major Shareholder Sells $675,675.00 in Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Maurice Duca sold 3,500 shares of the stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $193.05, for a total value of $675,675.00. Following the sale, the insider owned 56,162 shares of the company’s stock, valued at approximately $10,842,074.10. The trade was a 5.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transactions with the SEC.

AppFolio Trading Down 3.1%

APPF stock opened at $196.77 on Thursday. The firm has a market cap of $6.97 billion, a PE ratio of 44.92 and a beta of 0.78. The stock has a 50-day moving average price of $171.28 and a 200-day moving average price of $170.60. AppFolio, Inc. has a 1-year low of $142.56 and a 1-year high of $288.73.

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on APPF. Benchmark boosted their target price on shares of AppFolio from $222.00 to $226.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Wall Street Zen downgraded shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Sunday, July 26th. Piper Sandler dropped their price objective on shares of AppFolio from $245.00 to $210.00 and set an “overweight” rating on the stock in a report on Friday, April 24th. Guggenheim started coverage on shares of AppFolio in a research report on Wednesday, July 22nd. They set a “buy” rating and a $232.00 price objective on the stock. Finally, DA Davidson set a $225.00 target price on AppFolio in a research note on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, AppFolio has an average rating of “Buy” and an average price target of $243.50.

AppFolio News Roundup

Here are the key news stories impacting AppFolio this week:

• Positive Sentiment: AppFolio’s latest quarterly results were modestly ahead of expectations, with earnings per share of $1.71 versus the $1.69 consensus estimate and revenue of $281.12 million versus $277.35 million. Revenue increased 19.3% year over year, supporting the company’s growth narrative.
• Positive Sentiment: Analysts remain broadly constructive, with a consensus “Buy” rating and an average price target of $243.50, above recent trading levels. Benchmark raised its price objective to $226, while DA Davidson set a $225 target.
• Neutral Sentiment: Major shareholder Maurice J. Duca sold several blocks totaling 15,900 shares on August 10–11 for approximately $3.57 million. The transactions were executed under a pre-arranged Rule 10b5-1 plan, which reduces their significance as a discretionary bearish signal. SEC filing on Maurice Duca’s AppFolio share sales
• Neutral Sentiment: General Counsel Evan Pickering sold 463 shares, while insider Don Rigler sold 150 shares. These sales were also made under Rule 10b5-1 plans and were specifically intended to cover tax-withholding obligations tied to vested equity awards. SEC filing on AppFolio insider sales
• Negative Sentiment: The scale and number of recent insider disposals may weigh on sentiment, particularly because Duca reduced several reported holdings by roughly 6.7% to 25.5%. Investors may interpret repeated selling as a near-term supply or confidence concern, despite the pre-arranged plans.
• Negative Sentiment: Wall Street Zen downgraded APPF from “Buy” to “Hold,” and Piper Sandler previously cut its target to $210, highlighting valuation and execution concerns. AppFolio trades at a relatively high forward earnings multiple, leaving the stock sensitive to changes in growth expectations.

Hedge Funds Weigh In On AppFolio

A number of large investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its holdings in AppFolio by 101.8% during the fourth 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 last quarter. Optiver Holding B.V. grew its holdings in shares of AppFolio by 827.8% during 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 last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of AppFolio by 48.8% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker’s stock worth $53,000 after acquiring an additional 63 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of AppFolio during the third quarter worth about $55,000. Finally, Employees Retirement System of Texas bought a new position in AppFolio in the 3rd quarter valued at about $58,000. 85.19% of the stock is currently owned by institutional investors.

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.