AppFolio, Inc. (NASDAQ:APPF) Director Olivia Nottebohm Sells 989 Shares

AppFolio, Inc. (NASDAQ:APPFGet Free Report) Director Olivia Nottebohm sold 989 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $241.75, for a total value of $239,090.75. Following the completion of the sale, the director now directly owns 1,909 shares of the company’s stock, valued at $461,500.75. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

AppFolio Stock Down 3.8 %

Shares of APPF opened at $229.59 on Wednesday. The stock has a market capitalization of $8.24 billion, a P/E ratio of 7,655.55 and a beta of 0.81. AppFolio, Inc. has a twelve month low of $113.58 and a twelve month high of $246.12. The company has a 50 day moving average of $205.92 and a 200-day moving average of $193.79.

AppFolio (NASDAQ:APPFGet Free Report) last issued its quarterly earnings results on Thursday, January 25th. The software maker reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.29. The company had revenue of $171.83 million during the quarter, compared to analysts’ expectations of $162.80 million. AppFolio had a net margin of 0.44% and a negative return on equity of 8.58%. On average, sell-side analysts anticipate that AppFolio, Inc. will post 2.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on the company. BTIG Research assumed coverage on AppFolio in a research note on Friday, January 19th. They issued a “buy” rating and a $215.00 price target for the company. Stephens reaffirmed an “overweight” rating and issued a $241.00 price target on shares of AppFolio in a research note on Friday, January 26th. KeyCorp increased their target price on AppFolio from $240.00 to $254.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 30th. JPMorgan Chase & Co. increased their target price on AppFolio from $228.00 to $237.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Finally, StockNews.com cut AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, December 21st. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $237.40.

Check Out Our Latest Stock Analysis on APPF

Hedge Funds Weigh In On AppFolio

Several hedge funds have recently made changes to their positions in the business. Fred Alger Management LLC boosted its holdings in shares of AppFolio by 623.8% in the 4th quarter. Fred Alger Management LLC now owns 497,164 shares of the software maker’s stock valued at $52,391,000 after buying an additional 428,479 shares during the last quarter. Norges Bank acquired a new stake in shares of AppFolio in the 4th quarter valued at approximately $38,458,000. Zeno Equity Partners LLP acquired a new stake in shares of AppFolio in the 4th quarter valued at approximately $33,434,000. Lord Abbett & CO. LLC acquired a new stake in shares of AppFolio in the 3rd quarter valued at approximately $33,062,000. Finally, Nellore Capital Management LLC acquired a new stake in shares of AppFolio in the 1st quarter valued at approximately $16,069,000. 48.96% of the stock is owned by institutional investors.

About AppFolio

(Get Free Report)

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.

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