AppFolio (NASDAQ:APPF) Trading Up 4.1% – What’s Next?

AppFolio, Inc. (NASDAQ:APPF)’s share price shot up 4.1% on Tuesday . The company traded as high as $228.71 and last traded at $229.64. 162,849 shares were traded during trading, a decline of 39% from the average session volume of 266,255 shares. The stock had previously closed at $220.60.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Stephens restated an “overweight” rating and set a $295.00 price target on shares of AppFolio in a research note on Friday, January 31st. KeyCorp lowered 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 note on Friday, January 31st. Finally, William Blair restated an “outperform” rating on shares of AppFolio in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $276.29.

AppFolio Price Performance

The business’s fifty day simple moving average is $227.40 and its 200 day simple moving average is $232.45. The firm has a market capitalization of $8.39 billion, a price-to-earnings ratio of 41.50 and a beta of 0.89.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, January 30th. The software maker reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.34). AppFolio had a net margin of 25.69% and a return on equity of 26.21%. Equities research analysts expect that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Matthew S. Mazza sold 838 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $255.30, for a total value of $213,941.40. Following the sale, the insider now owns 22,701 shares in the company, valued at $5,795,565.30. This represents a 3.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO William Shane Trigg sold 3,501 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $217.27, for a total value of $760,662.27. Following the transaction, the chief executive officer now owns 83,824 shares of the company’s stock, valued at $18,212,440.48. The trade was a 4.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.24% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AppFolio

Several hedge funds and other institutional investors have recently bought and sold shares of APPF. FMR LLC grew its position in AppFolio by 881.2% during the fourth quarter. FMR LLC now owns 597,485 shares of the software maker’s stock valued at $147,411,000 after buying an additional 536,591 shares during the period. Kayne Anderson Rudnick Investment Management LLC bought a new position in AppFolio during the fourth quarter valued at approximately $103,503,000. Norges Bank bought a new position in AppFolio during the fourth quarter valued at $68,037,000. Lord Abbett & CO. LLC increased its position in shares of AppFolio by 82.2% during the 3rd quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker’s stock valued at $108,116,000 after purchasing an additional 207,204 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in AppFolio by 43.2% during the 4th quarter. AQR Capital Management LLC now owns 655,625 shares of the software maker’s stock valued at $161,756,000 after purchasing an additional 197,700 shares during the last quarter. Institutional investors own 85.19% of the company’s stock.

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.