AppFolio’s (APPF) “Overweight” Rating Reaffirmed at Piper Sandler Companies

Piper Sandler Companies reiterated their overweight rating on shares of AppFolio (NASDAQ:APPF) in a research note issued to investors on Friday morning, Stock Target Advisor reports. They currently have a $300.00 price objective on the software maker’s stock.

A number of other equities research analysts also recently issued reports on APPF. JPMorgan Chase & Co. boosted their price objective on shares of AppFolio from $260.00 to $328.00 and gave the company an overweight rating in a research report on Wednesday, July 17th. Stephens reissued an overweight rating and set a $241.00 price objective on shares of AppFolio in a research report on Friday, April 26th. KeyCorp boosted their price objective on shares of AppFolio from $264.00 to $275.00 and gave the company an overweight rating in a research report on Friday, April 26th. Piper Sandler reaffirmed an overweight rating and issued a $295.00 target price on shares of AppFolio in a report on Friday, July 12th. Finally, Keefe, Bruyette & Woods upped their target price on shares of AppFolio from $215.00 to $238.00 and gave the stock a market perform rating in a report on Friday, April 26th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, AppFolio has an average rating of Moderate Buy and an average target price of $277.75.

AppFolio Trading Down 10.9 %

Shares of APPF opened at $230.95 on Friday. The firm has a market cap of $8.36 billion, a PE ratio of 111.57 and a beta of 0.80. The firm has a fifty day simple moving average of $242.53 and a two-hundred day simple moving average of $231.56. AppFolio has a 1-year low of $164.29 and a 1-year high of $274.56.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Thursday, July 25th. The software maker reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.16. AppFolio had a net margin of 17.32% and a return on equity of 29.03%. The firm had revenue of $197.38 million during the quarter, compared to the consensus estimate of $190.57 million. During the same quarter in the previous year, the firm posted ($0.53) EPS. The company’s revenue for the quarter was up 34.2% compared to the same quarter last year. As a group, research analysts forecast that AppFolio will post 2.9 EPS for the current fiscal year.

Insider Buying and Selling at AppFolio

In other AppFolio news, major shareholder Maurice J. Duca sold 2,100 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $231.20, for a total transaction of $485,520.00. Following the completion of the transaction, the insider now owns 55,000 shares of the company’s stock, valued at approximately $12,716,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AppFolio news, major shareholder Maurice J. Duca sold 2,100 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $231.20, for a total transaction of $485,520.00. Following the completion of the transaction, the insider now owns 55,000 shares of the company’s stock, valued at approximately $12,716,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Matthew S. Mazza sold 2,131 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $249.46, for a total transaction of $531,599.26. Following the transaction, the insider now directly owns 43,680 shares of the company’s stock, valued at approximately $10,896,412.80. The disclosure for this sale can be found here. Insiders sold 130,444 shares of company stock valued at $31,124,559 in the last 90 days. Insiders own 9.15% of the company’s stock.

Institutional Trading of AppFolio

Hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC raised its position in shares of AppFolio by 497.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 43,552 shares of the software maker’s stock valued at $7,545,000 after buying an additional 36,265 shares in the last quarter. American International Group Inc. raised its position in shares of 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 buying an additional 26,815 shares in the last quarter. Texas Permanent School Fund Corp purchased a new stake in shares of AppFolio during the 1st quarter valued at about $4,415,000. Long Walk Management LP raised its position in shares of AppFolio by 62.7% during the 4th quarter. Long Walk Management LP now owns 122,000 shares of the software maker’s stock valued at $21,135,000 after buying an additional 47,000 shares in the last quarter. Finally, Oberndorf William E purchased a new stake in shares of AppFolio during the 4th quarter valued at about $3,020,000. 62.34% of the stock is currently owned by hedge funds and other institutional investors.

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.