Analysts Set AppFolio, Inc. (NASDAQ:APPF) PT at $261.75

Shares of AppFolio, Inc. (NASDAQ:APPF) have been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $261.75.

APPF has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on shares of AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. StockNews.com cut AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd. Keefe, Bruyette & Woods cut AppFolio from a “market perform” rating to an “underperform” rating and decreased their price target for the stock from $255.00 to $193.00 in a research note on Tuesday, October 15th. KeyCorp lowered their price objective on AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Finally, DA Davidson raised their target price on shares of AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, July 26th.

AppFolio Trading Up 0.3 %

Shares of NASDAQ APPF opened at $208.52 on Monday. The stock has a market cap of $7.56 billion, a price-to-earnings ratio of 58.08 and a beta of 0.81. The stock’s 50-day moving average is $222.26 and its 200 day moving average is $230.57. AppFolio has a 1-year low of $164.29 and a 1-year high of $274.56.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 EPS for the quarter, topping the consensus estimate of $1.03 by $0.26. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The firm had revenue of $206.00 million for the quarter, compared to the consensus estimate of $199.11 million. During the same period last year, the firm posted $0.26 earnings per share. The business’s revenue was up 24.5% compared to the same quarter last year. On average, analysts forecast that AppFolio will post 3.2 EPS for the current fiscal year.

Insider Activity at AppFolio

In related news, CEO William Shane Trigg sold 3,501 shares of AppFolio stock in a transaction on Friday, August 16th. The shares were sold at an average price of $218.98, for a total value of $766,648.98. Following the sale, the chief executive officer now owns 81,699 shares in the company, valued at $17,890,447.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other AppFolio news, major shareholder Maurice J. Duca sold 1,296 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $236.77, for a total transaction of $306,853.92. Following the transaction, the insider now owns 9,383 shares in the company, valued at approximately $2,221,612.91. This represents a 0.00 % 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 3,501 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $218.98, for a total value of $766,648.98. Following the completion of the transaction, the chief executive officer now directly owns 81,699 shares of the company’s stock, valued at $17,890,447.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,652 shares of company stock worth $4,053,818 over the last quarter. 5.24% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AppFolio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Covestor Ltd lifted its position in AppFolio by 62.4% during the third quarter. Covestor Ltd now owns 799 shares of the software maker’s stock valued at $188,000 after buying an additional 307 shares during the period. Assetmark Inc. increased its stake in shares of AppFolio by 649.5% in the 3rd quarter. Assetmark Inc. now owns 2,391 shares of the software maker’s stock worth $563,000 after acquiring an additional 2,072 shares in the last quarter. Verdence Capital Advisors LLC lifted its position in AppFolio by 17.6% during the 3rd quarter. Verdence Capital Advisors LLC now owns 2,142 shares of the software maker’s stock valued at $504,000 after acquiring an additional 320 shares during the period. Capital Performance Advisors LLP purchased a new position in AppFolio during the 3rd quarter valued at about $156,000. Finally, Summit Global Investments bought a new stake in AppFolio during the third quarter worth about $759,000. 62.34% of the stock is owned by hedge funds and other institutional investors.

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.