AppFolio (NASDAQ:APPF) Stock Price Up 4.1% – Here’s What Happened

AppFolio, Inc. (NASDAQ:APPF) shares traded up 4.1% during trading on Tuesday . The stock traded as high as $228.71 and last traded at $229.64. 162,849 shares changed hands during mid-day trading, a decline of 39% from the average session volume of 266,255 shares. The stock had previously closed at $220.60.

Analysts Set New Price Targets

A number of brokerages recently weighed in on APPF. Piper Sandler reaffirmed a “neutral” rating and set a $265.00 price objective on shares of AppFolio in a report on Friday, January 31st. KeyCorp lowered AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price target on the stock. in a research note on Friday, January 10th. William Blair reaffirmed an “outperform” rating on shares of AppFolio in a research note on Friday, January 31st. Finally, Stephens reissued an “overweight” rating and issued a $295.00 price objective on shares of AppFolio in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $276.29.

AppFolio Trading Up 4.4 %

The company’s 50 day simple moving average is $227.40 and its 200 day simple moving average is $232.45. The stock has a market capitalization of $8.39 billion, a PE ratio of 41.50 and a beta of 0.89.

AppFolio (NASDAQ:APPF) last released its earnings results on Thursday, January 30th. The software maker reported $0.58 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.34). AppFolio had a net margin of 25.69% and a return on equity of 26.21%. As a group, analysts predict that AppFolio, Inc. will post 3.96 EPS for the current year.

Insiders Place Their Bets

In other AppFolio news, insider Matthew S. Mazza sold 838 shares of AppFolio stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $255.30, for a total transaction of $213,941.40. Following the sale, the insider now directly owns 22,701 shares in the company, valued at $5,795,565.30. The trade was a 3.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alexander Wolf bought 9,678 shares of the stock in a transaction on Thursday, February 13th. The shares were acquired at an average price of $214.81 per share, with a total value of $2,078,931.18. Following the purchase, the director now owns 3,226 shares of the company’s stock, valued at $692,977.06. The trade was a -150.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 5.24% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of APPF. Tidal Investments LLC grew its position in AppFolio by 2.9% during the third quarter. Tidal Investments LLC now owns 1,425 shares of the software maker’s stock valued at $335,000 after purchasing an additional 40 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in shares of AppFolio by 6.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 642 shares of the software maker’s stock worth $158,000 after acquiring an additional 40 shares during the last quarter. Independent Advisor Alliance raised its holdings in shares of AppFolio by 2.1% during the fourth quarter. Independent Advisor Alliance now owns 2,607 shares of the software maker’s stock worth $643,000 after acquiring an additional 53 shares in the last quarter. Treasurer of the State of North Carolina boosted its position in AppFolio by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 9,960 shares of the software maker’s stock valued at $2,457,000 after purchasing an additional 60 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in AppFolio by 11.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 616 shares of the software maker’s stock valued at $152,000 after purchasing an additional 65 shares during the last quarter. Institutional investors own 85.19% of the company’s stock.

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.