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

Shares of AppFolio, Inc. (NASDAQ:APPF) have received an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation and seven have given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $261.75.

Several equities analysts recently weighed in on 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. StockNews.com lowered AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Keefe, Bruyette & Woods downgraded AppFolio from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $255.00 to $193.00 in a research report on Tuesday, October 15th. Finally, Piper Sandler dropped their price target on AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company in a research note on Friday, October 25th.

AppFolio Stock Up 1.7 %

AppFolio stock opened at $263.65 on Tuesday. AppFolio has a 52-week low of $164.29 and a 52-week high of $274.56. The company has a market cap of $9.58 billion, a P/E ratio of 73.44 and a beta of 0.86. The business has a 50-day simple moving average of $231.75 and a two-hundred day simple moving average of $233.02.

AppFolio (NASDAQ:APPF) last issued 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 business had revenue of $206.00 million during the quarter, compared to analysts’ expectations of $199.11 million. During the same quarter in the prior year, the business posted $0.26 earnings per share. The business’s quarterly revenue was up 24.5% on a year-over-year basis. Research analysts anticipate that AppFolio will post 3.23 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Matthew S. Mazza sold 700 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $255.50, for a total value of $178,850.00. Following the sale, the insider now owns 27,566 shares of the company’s stock, valued at approximately $7,043,113. This represents a 2.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Maurice J. Duca sold 1,059 shares of AppFolio stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $229.10, for a total transaction of $242,616.90. Following the transaction, the insider now directly owns 9,388 shares of the company’s stock, valued at approximately $2,150,790.80. This represents a 10.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,806 shares of company stock worth $7,164,293. Corporate insiders own 5.24% of the company’s stock.

Institutional Investors Weigh In On AppFolio

Several hedge funds and other institutional investors have recently modified their holdings of APPF. Lord Abbett & CO. LLC raised its stake in shares of AppFolio by 82.2% during the third quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker’s stock valued at $108,116,000 after acquiring an additional 207,204 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in AppFolio by 188.2% during the second quarter. Squarepoint Ops LLC now owns 185,034 shares of the software maker’s stock worth $45,254,000 after buying an additional 120,835 shares during the period. Los Angeles Capital Management LLC increased its holdings in shares of AppFolio by 516.6% in the 2nd quarter. Los Angeles Capital Management LLC now owns 109,850 shares of the software maker’s stock valued at $26,866,000 after acquiring an additional 92,034 shares during the period. FMR LLC lifted 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 valued at $14,334,000 after buying an additional 55,348 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of 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 buying an additional 54,386 shares in the last quarter. 85.19% 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.