AppFolio (NASDAQ:APPF) Price Target Cut to $265.00

AppFolio (NASDAQ:APPF) had its price target trimmed by Piper Sandler from $300.00 to $265.00 in a report published on Friday, Benzinga reports. The firm currently has an overweight rating on the software maker’s stock.

Several other analysts also recently weighed in on APPF. KeyCorp increased their target price on AppFolio from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. increased their target price on AppFolio from $260.00 to $328.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $300.00 price target on shares of AppFolio in a report on Friday, July 26th. Keefe, Bruyette & Woods cut AppFolio from a “market perform” rating to an “underperform” rating and cut their price target for the company from $255.00 to $193.00 in a report on Tuesday, October 15th. Finally, StockNews.com cut AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, AppFolio has a consensus rating of “Moderate Buy” and a consensus target price of $261.75.

AppFolio Stock Performance

APPF opened at $210.37 on Friday. The company has a market cap of $7.62 billion, a PE ratio of 101.63 and a beta of 0.81. The stock has a 50-day moving average of $223.32 and a 200-day moving average of $230.91. AppFolio has a 52-week low of $164.29 and a 52-week high of $274.56.

AppFolio (NASDAQ:APPF) last released its quarterly 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 during the quarter, compared to the consensus estimate of $199.11 million. AppFolio had a return on equity of 27.39% and a net margin of 17.32%. The firm’s revenue was up 24.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.26 EPS. On average, research analysts predict that AppFolio will post 3.04 earnings per share for the current year.

Insider Transactions at AppFolio

In other news, 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 approximately $17,890,447.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, 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 approximately $17,890,447.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Maurice J. Duca sold 2,968 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $234.87, for a total value of $697,094.16. Following the completion of the transaction, the insider now directly owns 24,500 shares of the company’s stock, valued at approximately $5,754,315. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,652 shares of company stock valued at $4,053,818. Corporate insiders own 9.15% of the company’s stock.

Hedge Funds Weigh In On AppFolio

A number of hedge funds have recently modified their holdings of the stock. American International Group Inc. increased its holdings in AppFolio by 280.7% during the 1st quarter. American International Group Inc. now owns 36,367 shares of the software maker’s stock valued at $8,973,000 after purchasing an additional 26,815 shares in the last quarter. Texas Permanent School Fund Corp acquired a new stake in AppFolio during the 1st quarter valued at $4,415,000. Ameritas Investment Partners Inc. increased its holdings in AppFolio by 223.5% during the 1st quarter. Ameritas Investment Partners Inc. now owns 6,434 shares of the software maker’s stock valued at $1,588,000 after purchasing an additional 4,445 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in AppFolio during the 1st quarter valued at $839,000. Finally, Lazard Asset Management LLC increased its holdings in AppFolio by 750.5% during the 1st quarter. Lazard Asset Management LLC now owns 9,211 shares of the software maker’s stock valued at $2,271,000 after purchasing an additional 8,128 shares in the last quarter. 62.34% of the stock is owned by institutional investors and hedge funds.

AppFolio Company Profile

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.