AppFolio (NASDAQ:APPF) Stock Rating Lowered by Piper Sandler

Piper Sandler lowered shares of AppFolio (NASDAQ:APPF) from an overweight rating to a neutral rating in a research note issued to investors on Monday, Marketbeat reports. Piper Sandler currently has $265.00 target price on the software maker’s stock.

A number of other analysts also recently commented on the company. Keefe, Bruyette & Woods downgraded AppFolio from a “market perform” rating to an “underperform” rating and dropped their price objective for the stock from $255.00 to $193.00 in a report on Tuesday, October 15th. KeyCorp lowered their target price on AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, AppFolio has a consensus rating of “Moderate Buy” and a consensus price target of $261.75.

AppFolio Stock Performance

APPF stock opened at $251.05 on Monday. AppFolio has a 1 year low of $165.13 and a 1 year high of $274.56. The firm has a market cap of $9.12 billion, a P/E ratio of 69.93 and a beta of 0.87. The stock’s 50 day moving average price is $244.19 and its 200 day moving average price is $235.08.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.26. The business had revenue of $206.00 million for the quarter, compared to the consensus estimate of $199.11 million. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The company’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.26 earnings per share. On average, research analysts predict that AppFolio will post 3.23 earnings per share for the current year.

Insider Activity

In other AppFolio news, CEO William Shane Trigg sold 3,500 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $229.85, for a total value of $804,475.00. Following the sale, the chief executive officer now directly owns 74,327 shares of the company’s stock, valued at $17,084,060.95. This trade represents a 4.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Matthew S. Mazza sold 700 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were 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 owns 27,566 shares in the company, valued at $7,043,113. The trade was a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 23,768 shares of company stock valued at $5,744,891. Company insiders own 5.24% of the company’s stock.

Institutional Trading of AppFolio

A number of large investors have recently modified their holdings of the company. Tidal Investments LLC boosted its stake in AppFolio by 2.9% during the 3rd quarter. Tidal Investments LLC now owns 1,425 shares of the software maker’s stock valued at $335,000 after purchasing an additional 40 shares during the period. Brighton Jones LLC raised its holdings in shares of AppFolio by 0.9% during the second quarter. Brighton Jones LLC now owns 5,805 shares of the software maker’s stock valued at $1,420,000 after buying an additional 49 shares during the last quarter. Blue Trust Inc. boosted its position in shares of AppFolio by 85.7% during the third quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock worth $29,000 after buying an additional 54 shares during the period. Northwest & Ethical Investments L.P. grew its holdings in AppFolio by 16.0% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 725 shares of the software maker’s stock worth $171,000 after buying an additional 100 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in AppFolio by 2.9% in the 2nd quarter. ProShare Advisors LLC now owns 3,630 shares of the software maker’s stock valued at $888,000 after acquiring an additional 102 shares during the period. Institutional investors and hedge funds 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.