Stephens Reiterates “Overweight” Rating for AppFolio (NASDAQ:APPF)

Stephens reiterated their overweight rating on shares of AppFolio (NASDAQ:APPF) in a report published on Friday,Benzinga reports. Stephens currently has a $295.00 price target on the software maker’s stock.

APPF has been the topic of a number of other reports. KeyCorp downgraded shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price target on the stock. in a research report on Friday, January 10th. Piper Sandler restated a “neutral” rating and issued a $265.00 target price on shares of AppFolio in a research report on Friday. Finally, Keefe, Bruyette & Woods cut AppFolio from a “market perform” rating to an “underperform” rating and lowered their price target for the company from $255.00 to $193.00 in a research report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $276.29.

AppFolio Price Performance

Shares of APPF stock opened at $233.91 on Friday. AppFolio has a 12-month low of $189.01 and a 12-month high of $274.56. The firm has a market capitalization of $8.50 billion, a price-to-earnings ratio of 65.16 and a beta of 0.87. The business has a 50 day simple moving average of $253.82 and a 200 day simple moving average of $235.40.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Thursday, January 30th. The software maker reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.34). AppFolio had a net margin of 17.26% and a return on equity of 30.64%. On average, equities analysts anticipate that AppFolio will post 3.2 EPS for the current fiscal year.

Insider Buying and Selling at AppFolio

In other AppFolio news, insider Matthew S. Mazza sold 838 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $255.30, for a total transaction of $213,941.40. Following the completion of the sale, the insider now directly owns 22,701 shares of the company’s stock, valued at approximately $5,795,565.30. This represents a 3.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Maurice J. Duca sold 2,510 shares of AppFolio stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $229.21, for a total transaction of $575,317.10. Following the completion of the transaction, the insider now directly owns 2,459 shares in the company, valued at approximately $563,627.39. This trade represents a 50.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,606 shares of company stock valued at $5,958,832. Corporate insiders own 5.24% of the company’s stock.

Institutional Trading of AppFolio

Hedge funds have recently modified their holdings of the business. Lord Abbett & CO. LLC grew its holdings in shares of AppFolio by 82.2% during the third quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker’s stock valued at $108,116,000 after buying an additional 207,204 shares in the last quarter. Deepwater Asset Management LLC purchased a new position in AppFolio during the 4th quarter valued at about $15,483,000. FMR LLC increased its holdings in shares of AppFolio by 998.0% in the 3rd quarter. FMR LLC now owns 60,894 shares of the software maker’s stock valued at $14,334,000 after purchasing an additional 55,348 shares during the period. Franklin Resources Inc. lifted its position in shares of AppFolio by 31.2% in the third quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker’s stock worth $51,800,000 after purchasing an additional 54,386 shares in the last quarter. Finally, State Street Corp lifted its position in shares of AppFolio by 8.2% in the third quarter. State Street Corp now owns 653,136 shares of the software maker’s stock worth $153,748,000 after purchasing an additional 49,238 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.