AppFolio, Inc. (NASDAQ:APPF) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of AppFolio, Inc. (NASDAQ:APPF) have been assigned a consensus recommendation of “Moderate Buy” from the eight analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $261.88.

A number of analysts recently commented on APPF shares. Keefe, Bruyette & Woods downgraded shares of AppFolio from a “market perform” rating to an “underperform” rating and dropped their target price for the stock from $255.00 to $193.00 in a report on Tuesday, October 15th. KeyCorp downgraded shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 target price on the stock. in a research report on Friday. Finally, Piper Sandler downgraded shares of AppFolio from an “overweight” rating to a “neutral” rating and set a $265.00 target price on the stock. in a research report on Monday, January 6th.

Insider Activity at AppFolio

In related news, CEO William Shane Trigg sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $229.85, for a total transaction of $804,475.00. Following the transaction, the chief executive officer now directly owns 74,327 shares of the company’s stock, valued at approximately $17,084,060.95. The trade was a 4.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Matthew S. Mazza sold 700 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $255.50, for a total transaction of $178,850.00. Following the transaction, the insider now directly owns 27,566 shares in the company, valued at $7,043,113. The trade was a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,768 shares of company stock valued at $5,744,891. Corporate insiders own 5.24% of the company’s stock.

Institutional Trading of AppFolio

A number of institutional investors have recently added to or reduced their stakes in the business. State Street Corp lifted its stake in AppFolio by 8.2% in the third quarter. State Street Corp now owns 653,136 shares of the software maker’s stock valued at $153,748,000 after acquiring an additional 49,238 shares during the last quarter. Lord Abbett & CO. LLC lifted its stake in AppFolio by 82.2% in the third quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker’s stock valued at $108,116,000 after acquiring an additional 207,204 shares during the last quarter. Geode Capital Management LLC lifted its stake in AppFolio by 8.6% in the third quarter. Geode Capital Management LLC now owns 413,032 shares of the software maker’s stock valued at $97,252,000 after acquiring an additional 32,743 shares during the last quarter. DF Dent & Co. Inc. lifted its stake in AppFolio by 10.1% in the third quarter. DF Dent & Co. Inc. now owns 351,691 shares of the software maker’s stock valued at $82,788,000 after acquiring an additional 32,181 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in AppFolio by 31.2% in the third quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker’s stock valued at $51,800,000 after acquiring an additional 54,386 shares during the last quarter. 85.19% of the stock is currently owned by institutional investors and hedge funds.

AppFolio Price Performance

NASDAQ APPF opened at $243.77 on Friday. The company’s 50 day simple moving average is $246.48 and its 200 day simple moving average is $235.46. AppFolio has a 12 month low of $171.19 and a 12 month high of $274.56. The company has a market capitalization of $8.86 billion, a P/E ratio of 67.90 and a beta of 0.87.

AppFolio (NASDAQ:APPF) last released its earnings results on Thursday, October 24th. The software maker reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.26. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The business had revenue of $206.00 million for the quarter, compared to the consensus estimate of $199.11 million. During the same period in the previous year, the firm earned $0.26 EPS. The business’s revenue for the quarter was up 24.5% on a year-over-year basis. On average, analysts anticipate that AppFolio will post 3.23 earnings per share for the current year.

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.