AppFolio (NASDAQ:APPF) PT Raised to $300.00 at Piper Sandler

AppFolio (NASDAQ:APPF) had its price objective hoisted by Piper Sandler from $295.00 to $300.00 in a report published on Friday morning, Benzinga reports. They currently have an overweight rating on the software maker’s stock.

Several other research firms have also commented on APPF. Keefe, Bruyette & Woods boosted their price objective on shares of AppFolio from $215.00 to $238.00 and gave the stock a market perform rating in a research note on Friday, April 26th. Stephens reiterated an overweight rating and set a $241.00 price objective on shares of AppFolio in a research note on Friday, April 26th. KeyCorp boosted their price objective on shares of AppFolio from $264.00 to $275.00 and gave the stock an overweight rating in a research note on Friday, April 26th. Piper Sandler Companies reiterated an overweight rating and set a $300.00 price objective on shares of AppFolio in a research note on Friday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of AppFolio from $260.00 to $328.00 and gave the stock an overweight rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $277.75.

AppFolio Stock Performance

NASDAQ:APPF opened at $229.02 on Friday. AppFolio has a one year low of $164.29 and a one year high of $274.56. The firm has a market cap of $8.29 billion, a P/E ratio of 110.64 and a beta of 0.80. The firm has a 50-day simple moving average of $242.25 and a 200-day simple moving average of $231.91.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, July 25th. The software maker reported $1.12 EPS for the quarter, beating the consensus estimate of $0.96 by $0.16. AppFolio had a net margin of 17.32% and a return on equity of 27.39%. The business had revenue of $197.38 million during the quarter, compared to analyst estimates of $190.57 million. During the same quarter in the previous year, the business posted ($0.53) EPS. The company’s quarterly revenue was up 34.2% compared to the same quarter last year. On average, research analysts predict that AppFolio will post 2.9 EPS for the current fiscal year.

Insider Buying and Selling at AppFolio

In other news, Director Alexander Wolf sold 10,000 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $250.26, for a total value of $2,502,600.00. Following the sale, the director now directly owns 182,584 shares of the company’s stock, valued at approximately $45,693,471.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Alexander Wolf sold 10,000 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $250.26, for a total value of $2,502,600.00. Following the sale, the director now directly owns 182,584 shares of the company’s stock, valued at approximately $45,693,471.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Maurice J. Duca sold 4,462 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $261.19, for a total transaction of $1,165,429.78. Following the completion of the sale, the insider now directly owns 49,784 shares in the company, valued at $13,003,082.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 130,444 shares of company stock worth $31,124,559. 9.15% of the stock is owned by corporate insiders.

Institutional Trading of AppFolio

Several large investors have recently made changes to their positions in the business. GAMMA Investing LLC boosted its holdings in AppFolio by 589.5% during the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after buying an additional 112 shares in the last quarter. CWM LLC boosted its holdings in AppFolio by 238.6% during the second quarter. CWM LLC now owns 149 shares of the software maker’s stock worth $36,000 after buying an additional 105 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in AppFolio by 291.3% during the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock worth $44,000 after buying an additional 134 shares in the last quarter. USA Financial Formulas purchased a new stake in AppFolio during the fourth quarter worth $59,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in AppFolio during the fourth quarter worth $64,000. 62.34% of the stock is owned by hedge funds and other institutional investors.

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.