Key Points
- Major shareholder Maurice Duca sold 3,500 AppFolio shares at an average price of $193.05, generating $675,675. The transaction, conducted under a pre-arranged Rule 10b5-1 plan, reduced his direct ownership by 5.87% to 56,162 shares.
- AppFolio recently reported quarterly revenue of $281.12 million, up 19.3% year over year, and EPS of $1.71, slightly exceeding analyst expectations.
- Analysts maintain an overall “Buy” consensus with an average price target of $243.50, while institutional investors own approximately 85.19% of the company.
AppFolio, Inc. (NASDAQ:APPF - Get Free Report) major shareholder Maurice Duca sold 3,500 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $193.05, for a total value of $675,675.00. Following the completion of the sale, the insider directly owned 56,162 shares of the company's stock, valued at $10,842,074.10. This represents a 5.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.
AppFolio Trading Up 0.4%
Shares of APPF stock opened at $199.54 on Tuesday. AppFolio, Inc. has a 1 year low of $142.56 and a 1 year high of $290.55. The firm's fifty day simple moving average is $170.10 and its 200 day simple moving average is $170.88. The firm has a market capitalization of $7.07 billion, a P/E ratio of 45.56 and a beta of 0.78.
AppFolio (NASDAQ:APPF - Get Free Report) last released 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. AppFolio had a net margin of 15.13% and a return on equity of 32.42%. The firm had revenue of $281.12 million during the quarter, compared to analysts' expectations of $277.35 million. During the same period in the prior year, the company earned $1.38 EPS. The business's quarterly revenue was up 19.3% compared to the same quarter last year. Equities research analysts anticipate that AppFolio, Inc. will post 5.16 EPS for the current fiscal year.
Analyst Ratings Changes
A number of research analysts have recently commented on APPF shares. Wall Street Zen lowered shares of AppFolio from a "buy" rating to a "hold" rating in a research report on Sunday, July 26th. Piper Sandler lowered their price target on AppFolio from $245.00 to $210.00 and set an "overweight" rating on the stock in a research note on Friday, April 24th. DA Davidson set a $225.00 price target on AppFolio in a report on Friday, July 24th. Weiss Ratings downgraded AppFolio from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, June 11th. Finally, Benchmark lifted their price objective on AppFolio from $222.00 to $226.00 and gave the stock a "buy" rating in a report on Friday, April 24th. Two 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 stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $243.50.
Get Our Latest Stock Analysis on AppFolio
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in APPF. EverSource Wealth Advisors LLC boosted its stake in shares of AppFolio by 101.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker's stock valued at $26,000 after purchasing an additional 56 shares in the last quarter. Optiver Holding B.V. increased its position in shares of AppFolio by 827.8% during the 1st quarter. Optiver Holding B.V. now owns 167 shares of the software maker's stock worth $26,000 after purchasing an additional 149 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of AppFolio by 48.8% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker's stock worth $53,000 after purchasing an additional 63 shares in the last quarter. Advisory Services Network LLC bought a new position in AppFolio during the 3rd quarter valued at about $55,000. Finally, Employees Retirement System of Texas bought a new position in AppFolio during the 3rd quarter valued at about $58,000. 85.19% of the stock is owned by institutional investors.
About AppFolio
(
Get Free Report)
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.
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