AppFolio, Inc. (NASDAQ:APPF) Receives $261.88 Average Target Price from Analysts

AppFolio, Inc. (NASDAQ:APPF) has been given a consensus recommendation of “Moderate Buy” by the eight research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $261.88.

APPF has been the subject of a number of recent analyst reports. KeyCorp cut AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 target price for the company. in a research report on Friday. Piper Sandler downgraded shares of AppFolio from an “overweight” rating to a “neutral” rating and set a $265.00 price objective for the company. in a report on Monday, January 6th. Finally, Keefe, Bruyette & Woods lowered shares of AppFolio from a “market perform” rating to an “underperform” rating and lowered their target price for the company from $255.00 to $193.00 in a research note on Tuesday, October 15th.

AppFolio Trading Down 0.5 %

APPF stock opened at $242.55 on Friday. The firm has a market cap of $8.81 billion, a PE ratio of 67.56 and a beta of 0.87. AppFolio has a 1 year low of $171.19 and a 1 year high of $274.56. The company has a fifty day simple moving average of $247.80 and a 200 day simple moving average of $235.45.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.26. The company had revenue of $206.00 million during 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%. The business’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.26 earnings per share. As a group, analysts forecast that AppFolio will post 3.23 EPS for the current fiscal year.

Insider Activity at AppFolio

In other news, insider Matthew S. Mazza sold 926 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $229.04, for a total transaction of $212,091.04. Following the sale, the insider now directly owns 33,819 shares in the company, valued at approximately $7,745,903.76. The trade was a 2.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William Shane Trigg sold 4,145 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $263.32, for a total value of $1,091,461.40. Following the completion of the transaction, the chief executive officer now owns 73,682 shares of the company’s stock, valued at $19,401,944.24. The trade was a 5.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,768 shares of company stock worth $5,744,891 in the last ninety days. 5.24% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AppFolio

Several institutional investors and hedge funds have recently bought and sold shares of APPF. Pallas Capital Advisors LLC lifted its holdings in shares of AppFolio by 17.7% during the 4th quarter. Pallas Capital Advisors LLC now owns 4,263 shares of the software maker’s stock worth $1,052,000 after acquiring an additional 642 shares during the period. Salem Investment Counselors Inc. bought a new position in AppFolio during the fourth quarter worth about $123,000. City Center Advisors LLC lifted its stake in AppFolio by 9.8% during the fourth quarter. City Center Advisors LLC now owns 1,372 shares of the software maker’s stock worth $338,000 after purchasing an additional 123 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in AppFolio by 18.0% during the fourth quarter. Harbor Capital Advisors Inc. now owns 4,227 shares of the software maker’s stock valued at $1,043,000 after purchasing an additional 646 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of AppFolio by 2.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,620 shares of the software maker’s stock worth $1,558,000 after buying an additional 157 shares in 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.