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

AppFolio, Inc. (NASDAQ:APPF) has been assigned an average rating of “Moderate Buy” from the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $261.75.

APPF has been the topic of several research analyst reports. Keefe, Bruyette & Woods cut AppFolio from a “market perform” rating to an “underperform” rating and reduced their target price for the company from $255.00 to $193.00 in a research note on Tuesday, October 15th. KeyCorp reduced their price objective on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. StockNews.com cut shares of AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Finally, Piper Sandler cut their target price on shares of AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th.

AppFolio Stock Up 0.1 %

Shares of AppFolio stock opened at $251.65 on Tuesday. The company’s fifty day simple moving average is $233.57 and its two-hundred day simple moving average is $233.50. AppFolio has a 12-month low of $164.29 and a 12-month high of $274.56. The firm has a market cap of $9.14 billion, a PE ratio of 70.10 and a beta of 0.86.

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

Insider Activity at AppFolio

In other AppFolio news, major shareholder Maurice J. Duca sold 1,842 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $235.71, for a total transaction of $434,177.82. Following the completion of the transaction, the insider now owns 12,874 shares of the company’s stock, valued at approximately $3,034,530.54. This trade represents a 12.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Matthew S. Mazza sold 700 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $255.50, for a total value of $178,850.00. Following the completion of the sale, the insider now directly owns 27,566 shares in the company, valued at approximately $7,043,113. This represents a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,906 shares of company stock valued at $6,485,922 in the last three months. Company insiders own 5.24% of the company’s stock.

Hedge Funds Weigh In On AppFolio

Several institutional investors and hedge funds have recently modified their holdings of the stock. Summit Global Investments purchased a new stake in AppFolio during the 3rd quarter valued at about $759,000. Captrust Financial Advisors grew its holdings in shares of AppFolio by 183.3% during the third quarter. Captrust Financial Advisors now owns 4,374 shares of the software maker’s stock valued at $1,030,000 after buying an additional 2,830 shares during the last quarter. Baker Avenue Asset Management LP increased its position in shares of AppFolio by 16.5% during the third quarter. Baker Avenue Asset Management LP now owns 21,483 shares of the software maker’s stock valued at $5,057,000 after acquiring an additional 3,038 shares in the last quarter. TD Asset Management Inc increased its position in shares of AppFolio by 48.1% during the second quarter. TD Asset Management Inc now owns 8,000 shares of the software maker’s stock valued at $1,957,000 after acquiring an additional 2,600 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in AppFolio by 56.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 390 shares of the software maker’s stock worth $92,000 after acquiring an additional 141 shares during the last quarter. 85.19% of the stock is currently owned by 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.