AppFolio’s (APPF) Neutral Rating Reiterated at Piper Sandler

Piper Sandler reiterated their neutral rating on shares of AppFolio (NASDAQ:APPF) in a report released on Friday morning,Benzinga reports. They currently have a $265.00 target price on the software maker’s stock.

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

AppFolio Stock Down 7.8 %

Shares of NASDAQ APPF opened at $233.91 on Friday. AppFolio has a 12-month low of $189.01 and a 12-month high of $274.56. The firm’s 50-day simple moving average is $253.82 and its 200 day simple moving average is $235.40. The company has a market cap of $8.50 billion, a price-to-earnings ratio of 65.16 and a beta of 0.87.

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

Insider Activity at AppFolio

In other AppFolio news, major shareholder Maurice J. Duca sold 2,510 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $229.21, for a total transaction of $575,317.10. Following the completion of the transaction, the insider now owns 2,459 shares in the company, valued at approximately $563,627.39. This trade represents a 50.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Matthew S. Mazza sold 5,090 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $236.24, for a total transaction of $1,202,461.60. Following the completion of the transaction, the insider now owns 28,266 shares in the company, valued at approximately $6,677,559.84. The trade was a 15.26 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,606 shares of company stock valued at $5,958,832. 5.24% of the stock is owned by insiders.

Institutional Trading of AppFolio

Several large investors have recently made changes to their positions in the company. Summit Global Investments purchased a new position in shares of AppFolio during the third quarter valued at approximately $759,000. JPMorgan Chase & Co. boosted its holdings in AppFolio by 3.3% during the third quarter. JPMorgan Chase & Co. now owns 161,278 shares of the software maker’s stock worth $37,965,000 after purchasing an additional 5,077 shares during the last quarter. Captrust Financial Advisors increased its stake in AppFolio by 183.3% in the 3rd quarter. Captrust Financial Advisors now owns 4,374 shares of the software maker’s stock valued at $1,030,000 after buying an additional 2,830 shares during the last quarter. Baker Avenue Asset Management LP increased its stake in AppFolio by 16.5% in the 3rd quarter. Baker Avenue Asset Management LP now owns 21,483 shares of the software maker’s stock valued at $5,057,000 after buying an additional 3,038 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in shares of AppFolio by 56.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 390 shares of the software maker’s stock worth $92,000 after buying an additional 141 shares during the last quarter. 85.19% of the stock is currently owned by institutional investors and hedge funds.

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.