AppFolio (NASDAQ:APPF) Cut to Neutral at Piper Sandler

Piper Sandler lowered shares of AppFolio (NASDAQ:APPF) from an overweight rating to a neutral rating in a report published on Monday, Marketbeat.com reports. The firm currently has $265.00 price objective on the software maker’s stock.

Other equities analysts have also recently issued reports about the stock. KeyCorp cut their target price on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Keefe, Bruyette & Woods lowered AppFolio from a “market perform” rating to an “underperform” rating and cut their price objective for the company from $255.00 to $193.00 in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $261.75.

AppFolio Stock Up 1.6 %

Shares of AppFolio stock opened at $253.59 on Monday. The company has a market capitalization of $9.21 billion, a price-to-earnings ratio of 70.64 and a beta of 0.87. The stock’s 50-day simple moving average is $245.57 and its 200-day simple moving average is $235.34. AppFolio has a 52 week low of $165.93 and a 52 week high of $274.56.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.26. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The company had revenue of $206.00 million for the quarter, compared to analysts’ expectations of $199.11 million. During the same period in the previous year, the firm earned $0.26 EPS. The firm’s revenue was up 24.5% compared to the same quarter last year. On average, equities analysts expect that AppFolio will post 3.23 earnings per share for the current year.

Insider Activity at AppFolio

In other AppFolio news, insider Matthew S. Mazza sold 926 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $229.04, for a total transaction of $212,091.04. Following the transaction, the insider now owns 33,819 shares in the company, valued at $7,745,903.76. The trade was a 2.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William Shane Trigg sold 4,145 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $263.32, for a total transaction of $1,091,461.40. Following the completion of the sale, the chief executive officer now owns 73,682 shares of the company’s stock, valued at $19,401,944.24. This trade represents a 5.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,768 shares of company stock valued at $5,744,891. Insiders own 5.24% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Blue Trust Inc. boosted its holdings in AppFolio by 85.7% during the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock valued at $29,000 after acquiring an additional 54 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of AppFolio by 688.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock worth $52,000 after purchasing an additional 186 shares during the last quarter. Quarry LP lifted its position in shares of AppFolio by 147.9% during the second quarter. Quarry LP now owns 238 shares of the software maker’s stock worth $58,000 after purchasing an additional 142 shares during the last quarter. True Wealth Design LLC purchased a new stake in shares of AppFolio during the third quarter valued at $79,000. Finally, Advisors Asset Management Inc. grew its holdings in shares of AppFolio by 56.6% in the third quarter. Advisors Asset Management Inc. now owns 390 shares of the software maker’s stock worth $92,000 after purchasing an additional 141 shares during the last quarter. Institutional investors own 85.19% of the company’s stock.

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.