AppFolio, Inc. (NASDAQ:APPF) Receives Consensus Rating of “Buy” from Brokerages

AppFolio, Inc. (NASDAQ:APPF) has been given an average rating of “Buy” by the six ratings firms that are presently covering the firm, Marketbeat reports. Six analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $239.40.

A number of brokerages recently commented on APPF. StockNews.com downgraded AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, December 21st. JPMorgan Chase & Co. upped their price objective on AppFolio from $228.00 to $237.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. KeyCorp upped their price objective on AppFolio from $254.00 to $264.00 and gave the company an “overweight” rating in a research note on Monday, March 18th. Stephens restated an “overweight” rating and set a $241.00 price objective on shares of AppFolio in a research note on Friday, January 26th. Finally, BTIG Research began coverage on AppFolio in a research note on Friday, January 19th. They set a “buy” rating and a $215.00 price objective on the stock.

Insider Transactions at AppFolio

In other news, Director Blottnitz Andreas Von sold 4,500 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $226.56, for a total transaction of $1,019,520.00. Following the sale, the director now directly owns 5,449 shares in the company, valued at approximately $1,234,525.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Timothy K. Bliss sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $227.24, for a total value of $2,272,400.00. Following the sale, the director now directly owns 51,070 shares in the company, valued at approximately $11,605,146.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Blottnitz Andreas Von sold 4,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $226.56, for a total value of $1,019,520.00. Following the completion of the sale, the director now owns 5,449 shares in the company, valued at $1,234,525.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,489 shares of company stock worth $3,531,011. 9.15% of the stock is currently owned by company insiders.

Institutional Trading of AppFolio

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in AppFolio by 3.8% in the 4th quarter. Vanguard Group Inc. now owns 2,078,661 shares of the software maker’s stock valued at $360,107,000 after acquiring an additional 76,934 shares during the period. BlackRock Inc. increased its position in shares of AppFolio by 2.9% during the 2nd quarter. BlackRock Inc. now owns 1,524,173 shares of the software maker’s stock valued at $262,371,000 after purchasing an additional 42,573 shares during the period. Fred Alger Management LLC increased its position in shares of AppFolio by 12.2% during the 3rd quarter. Fred Alger Management LLC now owns 572,007 shares of the software maker’s stock valued at $104,466,000 after purchasing an additional 62,347 shares during the period. Gilder Gagnon Howe & Co. LLC increased its position in shares of AppFolio by 3.8% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 421,309 shares of the software maker’s stock valued at $72,988,000 after purchasing an additional 15,283 shares during the period. Finally, State Street Corp increased its position in shares of AppFolio by 0.7% during the 2nd quarter. State Street Corp now owns 415,745 shares of the software maker’s stock valued at $71,566,000 after purchasing an additional 3,010 shares during the period. 62.34% of the stock is currently owned by institutional investors and hedge funds.

AppFolio Stock Performance

Shares of APPF opened at $225.40 on Thursday. The company has a market capitalization of $8.08 billion, a P/E ratio of 7,513.33 and a beta of 0.80. AppFolio has a one year low of $123.36 and a one year high of $253.42. The stock has a 50-day moving average price of $232.76 and a 200 day moving average price of $202.28.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Thursday, January 25th. The software maker reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.29. The firm had revenue of $171.83 million during the quarter, compared to the consensus estimate of $162.80 million. AppFolio had a negative return on equity of 8.58% and a net margin of 0.44%. As a group, equities research analysts forecast that AppFolio will post 2.66 earnings per share for the current fiscal year.

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.