AppFolio’s (APPF) Overweight Rating Reiterated at Stephens

Stephens restated their overweight rating on shares of AppFolio (NASDAQ:APPF) in a report published on Friday morning,Benzinga reports. The brokerage currently has a $295.00 price target on the software maker’s stock.

Other analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods cut shares of AppFolio from a “market perform” rating to an “underperform” rating and lowered their price objective for the company from $255.00 to $193.00 in a research note on Tuesday, October 15th. Piper Sandler reissued a “neutral” rating and set a $265.00 price target on shares of AppFolio in a research report on Friday. Finally, KeyCorp downgraded AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price objective on the stock. in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $276.29.

AppFolio Stock Down 7.8 %

Shares of NASDAQ:APPF opened at $233.91 on Friday. The business has a fifty day simple moving average of $253.82 and a 200-day simple moving average of $235.40. AppFolio has a 52 week low of $189.01 and a 52 week high of $274.56. The company has a market cap of $8.50 billion, a P/E ratio of 65.16 and a beta of 0.87.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings data on Thursday, January 30th. The software maker reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.34). AppFolio had a net margin of 17.26% and a return on equity of 30.64%. Sell-side analysts expect that AppFolio will post 3.2 earnings per share for the current fiscal year.

Insider Activity at AppFolio

In other AppFolio news, insider Matthew S. Mazza sold 926 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $229.04, for a total value of $212,091.04. Following the completion of the transaction, the insider now directly owns 33,819 shares of the company’s stock, valued at $7,745,903.76. This represents a 2.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William Shane Trigg sold 3,500 shares of AppFolio stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $229.85, for a total value of $804,475.00. Following the sale, the chief executive officer now directly owns 74,327 shares in the company, valued at approximately $17,084,060.95. The trade was a 4.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,606 shares of company stock worth $5,958,832. 5.24% of the stock is currently owned by company insiders.

Institutional Trading of AppFolio

Hedge funds have recently made changes to their positions in the stock. State Street Corp grew its holdings in AppFolio by 8.2% during the 3rd quarter. State Street Corp now owns 653,136 shares of the software maker’s stock worth $153,748,000 after acquiring an additional 49,238 shares in the last quarter. Lord Abbett & CO. LLC grew its stake in AppFolio by 82.2% in the third quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker’s stock worth $108,116,000 after purchasing an additional 207,204 shares in the last quarter. Geode Capital Management LLC increased its holdings in AppFolio by 8.6% in the third quarter. Geode Capital Management LLC now owns 413,032 shares of the software maker’s stock valued at $97,252,000 after buying an additional 32,743 shares during the last quarter. DF Dent & Co. Inc. raised its stake in AppFolio by 10.1% during the third quarter. DF Dent & Co. Inc. now owns 351,691 shares of the software maker’s stock valued at $82,788,000 after buying an additional 32,181 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in AppFolio by 31.2% during the 3rd quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker’s stock worth $51,800,000 after buying an additional 54,386 shares during the last quarter. Institutional investors and hedge funds 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.