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

AppFolio, Inc. (NASDAQ:APPF) has been assigned an average rating of “Moderate Buy” from the eight brokerages that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $261.75.

A number of equities analysts have recently issued reports on APPF shares. DA Davidson raised their price objective on AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. KeyCorp lowered their price objective on AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. JPMorgan Chase & Co. raised their price objective on AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Piper Sandler Companies restated an “overweight” rating and set a $300.00 price objective on shares of AppFolio in a research report on Friday, July 26th. Finally, Keefe, Bruyette & Woods downgraded AppFolio from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from $255.00 to $193.00 in a report on Tuesday, October 15th.

Insider Activity

In related news, CEO William Shane Trigg sold 3,501 shares of AppFolio stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $218.98, for a total transaction of $766,648.98. Following the transaction, the chief executive officer now owns 81,699 shares of the company’s stock, valued at $17,890,447.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO William Shane Trigg sold 3,501 shares of AppFolio stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $218.98, for a total transaction of $766,648.98. Following the transaction, the chief executive officer now owns 81,699 shares of the company’s stock, valued at $17,890,447.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Matthew S. Mazza sold 2,371 shares of AppFolio stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $221.22, for a total value of $524,512.62. Following the transaction, the insider now directly owns 39,980 shares in the company, valued at approximately $8,844,375.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,652 shares of company stock worth $4,053,818 over the last quarter. 9.15% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of APPF. American International Group Inc. boosted its position in AppFolio by 280.7% in the first quarter. American International Group Inc. now owns 36,367 shares of the software maker’s stock worth $8,973,000 after purchasing an additional 26,815 shares during the last quarter. Texas Permanent School Fund Corp purchased a new position in AppFolio in the first quarter worth $4,415,000. Ameritas Investment Partners Inc. boosted its position in AppFolio by 223.5% in the first quarter. Ameritas Investment Partners Inc. now owns 6,434 shares of the software maker’s stock worth $1,588,000 after purchasing an additional 4,445 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in AppFolio in the first quarter worth $839,000. Finally, Lazard Asset Management LLC boosted its position in AppFolio by 750.5% in the first quarter. Lazard Asset Management LLC now owns 9,211 shares of the software maker’s stock worth $2,271,000 after purchasing an additional 8,128 shares during the last quarter. Hedge funds and other institutional investors own 62.34% of the company’s stock.

AppFolio Trading Up 0.6 %

Shares of APPF stock opened at $217.63 on Monday. The business’s 50-day moving average price is $223.04 and its 200-day moving average price is $230.78. AppFolio has a 12 month low of $164.29 and a 12 month high of $274.56. The firm has a market capitalization of $7.88 billion, a price-to-earnings ratio of 105.14 and a beta of 0.81.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.26. AppFolio had a return on equity of 27.39% and a net margin of 17.32%. The firm had revenue of $206.00 million for the quarter, compared to analyst estimates of $199.11 million. During the same period last year, the firm posted $0.26 earnings per share. The business’s revenue for the quarter was up 24.5% on a year-over-year basis. On average, sell-side analysts predict that AppFolio will post 3.04 earnings per share for the current fiscal year.

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.