AppFolio (NASDAQ:APPF) Given “Neutral” Rating at Piper Sandler

Piper Sandler restated their neutral rating on shares of AppFolio (NASDAQ:APPF) in a report issued on Friday morning,Benzinga reports. Piper Sandler currently has a $265.00 target price on the software maker’s stock.

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

AppFolio Stock Down 7.8 %

AppFolio stock opened at $233.91 on Friday. The firm has a fifty day simple moving average of $253.82 and a two-hundred day simple moving average of $235.40. AppFolio has a twelve month low of $189.01 and a twelve month high of $274.56. The company has a market capitalization of $8.50 billion, a PE ratio of 65.16 and a beta of 0.87.

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

Insider Activity at AppFolio

In related news, Director Scanlan Agnes Bundy sold 500 shares of AppFolio stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $255.42, for a total transaction of $127,710.00. Following the completion of the sale, the director now owns 5,416 shares of the company’s stock, valued at $1,383,354.72. The trade was a 8.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Maurice J. Duca sold 2,510 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $229.21, for a total transaction of $575,317.10. Following the transaction, the insider now owns 2,459 shares of the company’s stock, valued at $563,627.39. This represents a 50.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,606 shares of company stock valued at $5,958,832 over the last quarter. 5.24% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in shares of AppFolio by 18.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 84,151 shares of the software maker’s stock worth $20,583,000 after purchasing an additional 13,110 shares during the last quarter. Creative Planning lifted its position in AppFolio by 68.0% during the second quarter. Creative Planning now owns 2,142 shares of the software maker’s stock worth $524,000 after buying an additional 867 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in AppFolio by 688.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock worth $52,000 after buying an additional 186 shares during the last quarter. Quarry LP increased its stake in shares of AppFolio by 147.9% in the 2nd quarter. Quarry LP now owns 238 shares of the software maker’s stock worth $58,000 after acquiring an additional 142 shares during the last quarter. Finally, Truist Financial Corp raised its holdings in shares of AppFolio by 12.8% during the 2nd quarter. Truist Financial Corp now owns 2,467 shares of the software maker’s stock worth $603,000 after acquiring an additional 280 shares during the period. 85.19% of the stock is owned by institutional investors and hedge funds.

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.