AppFolio, Inc. (NASDAQ:APPF) Given Average Rating of “Moderate Buy” by Brokerages

AppFolio, Inc. (NASDAQ:APPF) has received an average rating of “Moderate Buy” from the eight analysts that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $261.88.

Several analysts have weighed in on the stock. Piper Sandler downgraded shares of AppFolio from an “overweight” rating to a “neutral” rating and set a $265.00 target price on the stock. in a research report on Monday, January 6th. KeyCorp downgraded AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 target price on the stock. in a research report on Friday, January 10th. Finally, Keefe, Bruyette & Woods cut AppFolio from a “market perform” rating to an “underperform” rating and lowered their price target for the stock from $255.00 to $193.00 in a research report on Tuesday, October 15th.

Insiders Place Their Bets

In related news, insider Matthew S. Mazza sold 5,090 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $236.24, for a total value of $1,202,461.60. Following the completion of the transaction, the insider now owns 28,266 shares of the company’s stock, valued at approximately $6,677,559.84. This represents a 15.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Maurice J. Duca sold 1,059 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $229.10, for a total value of $242,616.90. Following the completion of the sale, the insider now directly owns 9,388 shares in the company, valued at approximately $2,150,790.80. The trade was a 10.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,768 shares of company stock worth $5,744,891. Corporate insiders own 5.24% of the company’s stock.

Institutional Trading of AppFolio

Several institutional investors have recently modified their holdings of the stock. Lord Abbett & CO. LLC boosted its holdings in AppFolio by 82.2% in the 3rd quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker’s stock worth $108,116,000 after buying an additional 207,204 shares during the last quarter. Squarepoint Ops LLC boosted its stake in shares of AppFolio by 188.2% in the second quarter. Squarepoint Ops LLC now owns 185,034 shares of the software maker’s stock worth $45,254,000 after acquiring an additional 120,835 shares during the last quarter. FMR LLC increased its position in shares of AppFolio by 998.0% during the third quarter. FMR LLC now owns 60,894 shares of the software maker’s stock worth $14,334,000 after purchasing an additional 55,348 shares in the last quarter. Franklin Resources Inc. raised its stake in AppFolio by 31.2% in the 3rd quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker’s stock valued at $51,800,000 after purchasing an additional 54,386 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in AppFolio in the 2nd quarter valued at $12,993,000. Institutional investors and hedge funds own 85.19% of the company’s stock.

AppFolio Trading Down 0.1 %

Shares of APPF stock opened at $251.92 on Friday. AppFolio has a 12-month low of $172.98 and a 12-month high of $274.56. The business’s fifty day simple moving average is $249.85 and its 200-day simple moving average is $235.76. The company has a market cap of $9.15 billion, a PE ratio of 70.17 and a beta of 0.87.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $199.11 million. During the same period last year, the business posted $0.26 earnings per share. The firm’s revenue was up 24.5% compared to the same quarter last year. On average, equities analysts forecast that AppFolio will post 3.23 earnings per share for the current year.

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.