AppFolio, Inc. (NASDAQ:APPF) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of AppFolio, Inc. (NASDAQ:APPF) have been assigned a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $248.71.

Several equities analysts recently weighed in on APPF shares. Keefe, Bruyette & Woods raised their price target on shares of AppFolio from $215.00 to $238.00 and gave the company a “market perform” rating in a research report on Friday, April 26th. KeyCorp boosted their price target on shares of AppFolio from $264.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Stephens restated an “overweight” rating and set a $241.00 price objective on shares of AppFolio in a report on Friday, April 26th. Finally, Piper Sandler initiated coverage on shares of AppFolio in a research note on Monday, June 10th. They issued an “overweight” rating and a $295.00 target price on the stock.

Insider Transactions at AppFolio

In related news, Director Alexander Wolf sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $250.26, for a total transaction of $2,502,600.00. Following the sale, the director now directly owns 182,584 shares in the company, valued at approximately $45,693,471.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other AppFolio news, major shareholder Maurice J. Duca sold 2,100 shares of AppFolio stock in a transaction dated Friday, June 14th. The stock was 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 this link. Also, Director Alexander Wolf sold 10,000 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $250.26, for a total transaction of $2,502,600.00. Following the completion of the sale, the director now directly owns 182,584 shares in the company, valued at $45,693,471.84. The disclosure for this sale can be found here. Insiders sold 101,575 shares of company stock worth $23,956,040 over the last quarter. Corporate insiders own 9.15% of the company’s stock.

Institutional Investors Weigh In On AppFolio

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in AppFolio by 3.6% in the first quarter. Vanguard Group Inc. now owns 2,152,626 shares of the software maker’s stock valued at $531,139,000 after purchasing an additional 73,965 shares in the last quarter. Fred Alger Management LLC lifted its holdings in shares of AppFolio by 12.2% during the 3rd quarter. Fred Alger Management LLC now owns 572,007 shares of the software maker’s stock worth $104,466,000 after acquiring an additional 62,347 shares during the last quarter. Gilder Gagnon Howe & Co. LLC lifted its holdings in shares of AppFolio by 3.8% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 421,309 shares of the software maker’s stock worth $72,988,000 after acquiring an additional 15,283 shares during the last quarter. Norges Bank purchased a new position in AppFolio in the fourth quarter worth $38,458,000. Finally, Zeno Equity Partners LLP increased its stake in AppFolio by 6.6% in the first quarter. Zeno Equity Partners LLP now owns 205,781 shares of the software maker’s stock valued at $50,774,000 after acquiring an additional 12,786 shares during the last quarter. Hedge funds and other institutional investors own 62.34% of the company’s stock.

AppFolio Stock Up 0.1 %

NASDAQ APPF opened at $232.13 on Tuesday. AppFolio has a 52 week low of $162.32 and a 52 week high of $256.73. The business has a 50 day moving average price of $232.86 and a 200-day moving average price of $218.33. The company has a market cap of $8.41 billion, a price-to-earnings ratio of 112.14 and a beta of 0.80.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Thursday, April 25th. The software maker reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.09. AppFolio had a net margin of 11.38% and a return on equity of 13.51%. The firm had revenue of $187.43 million for the quarter, compared to the consensus estimate of $173.66 million. On average, equities research analysts anticipate that AppFolio will post 2.85 earnings per share for the current year.

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.