AppFolio (NASDAQ:APPF) Downgraded by Piper Sandler to “Neutral”

AppFolio (NASDAQ:APPF) was downgraded by investment analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Monday,Finviz reports. They presently have a $265.00 price objective on the software maker’s stock. Piper Sandler’s price objective suggests a potential upside of 4.86% from the stock’s current price.

Several other research analysts have also issued reports on APPF. Keefe, Bruyette & Woods lowered shares of AppFolio from a “market perform” rating to an “underperform” rating and cut their target price for the stock from $255.00 to $193.00 in a research report on Tuesday, October 15th. KeyCorp cut their price objective on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $261.75.

AppFolio Price Performance

NASDAQ APPF opened at $252.72 on Monday. AppFolio has a one year low of $164.29 and a one year high of $274.56. The business’s fifty day moving average is $243.37 and its 200-day moving average is $234.95. The stock has a market capitalization of $9.18 billion, a price-to-earnings ratio of 70.40 and a beta of 0.87.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.26. The business had revenue of $206.00 million during the quarter, compared to analyst estimates of $199.11 million. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. AppFolio’s revenue was up 24.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.26 EPS. Research analysts expect that AppFolio will post 3.23 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Matthew S. Mazza sold 700 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $255.50, for a total value of $178,850.00. Following the sale, the insider now directly owns 27,566 shares of the company’s stock, valued at $7,043,113. This represents a 2.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William Shane Trigg sold 3,500 shares of AppFolio stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $229.85, for a total value of $804,475.00. Following the transaction, the chief executive officer now owns 74,327 shares of the company’s stock, valued at $17,084,060.95. The trade was a 4.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,768 shares of company stock valued at $5,744,891 over the last 90 days. Corporate insiders own 5.24% of the company’s stock.

Institutional Investors Weigh In On AppFolio

Several hedge funds have recently bought and sold shares of the stock. Summit Global Investments purchased a new stake in AppFolio during the third quarter worth $759,000. Captrust Financial Advisors grew its position in shares of AppFolio by 183.3% during the 3rd quarter. Captrust Financial Advisors now owns 4,374 shares of the software maker’s stock valued at $1,030,000 after acquiring an additional 2,830 shares during the period. Baker Avenue Asset Management LP grew its position in shares of AppFolio by 16.5% during the 3rd quarter. Baker Avenue Asset Management LP now owns 21,483 shares of the software maker’s stock valued at $5,057,000 after acquiring an additional 3,038 shares during the period. Advisors Asset Management Inc. raised its holdings in AppFolio by 56.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 390 shares of the software maker’s stock worth $92,000 after purchasing an additional 141 shares during the period. Finally, TD Asset Management Inc boosted its position in AppFolio by 48.1% during the second quarter. TD Asset Management Inc now owns 8,000 shares of the software maker’s stock worth $1,957,000 after purchasing an additional 2,600 shares in the last quarter. Hedge funds and other institutional investors own 85.19% of the company’s stock.

AppFolio Company Profile

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.