AppFolio, Inc. (NASDAQ:APPF) Receives $261.75 Average PT from Brokerages

Shares of AppFolio, Inc. (NASDAQ:APPF) have received an average rating of “Moderate Buy” from the eight research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and seven have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $261.75.

Several brokerages recently issued reports on APPF. KeyCorp cut their price target on AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. StockNews.com cut AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Keefe, Bruyette & Woods cut AppFolio from a “market perform” rating to an “underperform” rating and lowered their target price for the company from $255.00 to $193.00 in a research report on Tuesday, October 15th. Finally, Piper Sandler lowered their target price on AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th.

AppFolio Trading Up 2.4 %

Shares of NASDAQ APPF opened at $242.39 on Friday. The company has a market cap of $8.81 billion, a price-to-earnings ratio of 67.52 and a beta of 0.83. AppFolio has a 12-month low of $164.29 and a 12-month high of $274.56. The stock’s 50 day simple moving average is $222.87 and its 200 day simple moving average is $230.82.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.26. The business had revenue of $206.00 million for the quarter, compared to the consensus estimate of $199.11 million. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The business’s revenue was up 24.5% on a year-over-year basis. During the same quarter last year, the business posted $0.26 EPS. As a group, equities analysts forecast that AppFolio will post 3.23 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Maurice J. Duca sold 500 shares of AppFolio stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $232.59, for a total transaction of $116,295.00. Following the transaction, the insider now directly owns 22,997 shares in the company, valued at approximately $5,348,872.23. This trade represents a 2.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Matthew S. Mazza sold 5,090 shares of AppFolio stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $236.24, for a total value of $1,202,461.60. Following the transaction, the insider now owns 28,266 shares in the company, valued at approximately $6,677,559.84. This trade represents a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,897 shares of company stock worth $5,102,524. 5.24% of the stock is owned by company insiders.

Institutional Investors Weigh In On AppFolio

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of AppFolio by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 2,152,626 shares of the software maker’s stock worth $531,139,000 after acquiring an additional 73,965 shares in the last quarter. State Street Corp boosted its stake in shares of AppFolio by 8.2% during the 3rd quarter. State Street Corp now owns 653,136 shares of the software maker’s stock worth $153,748,000 after acquiring an additional 49,238 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of AppFolio by 8.6% during the 3rd quarter. Geode Capital Management LLC now owns 413,032 shares of the software maker’s stock worth $97,252,000 after acquiring an additional 32,743 shares in the last quarter. DF Dent & Co. Inc. boosted its stake in shares of AppFolio by 10.1% during the 3rd quarter. DF Dent & Co. Inc. now owns 351,691 shares of the software maker’s stock worth $82,788,000 after acquiring an additional 32,181 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of AppFolio by 13.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 241,801 shares of the software maker’s stock worth $59,137,000 after acquiring an additional 28,673 shares in the last quarter. 62.34% of the stock is owned by institutional investors.

About AppFolio

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.