AppFolio (NASDAQ:APPF) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of AppFolio (NASDAQ:APPF) from a hold rating to a buy rating in a research report sent to investors on Friday morning.

Other equities analysts also recently issued reports about the stock. Stephens restated an overweight rating and set a $241.00 price objective on shares of AppFolio in a research note on Friday, April 26th. DA Davidson increased their price objective on shares of AppFolio from $285.00 to $300.00 and gave the stock a buy rating in a research note on Friday. Piper Sandler Companies reiterated an overweight rating and issued a $300.00 target price on shares of AppFolio in a research note on Friday. Keefe, Bruyette & Woods raised their target price on shares of AppFolio from $215.00 to $238.00 and gave the company a market perform rating in a research note on Friday, April 26th. Finally, Piper Sandler raised their target price on shares of AppFolio from $295.00 to $300.00 and gave the company an overweight rating in a research note on Friday. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $277.75.

AppFolio Trading Down 0.8 %

APPF stock opened at $229.02 on Friday. The stock has a 50-day moving average price of $242.25 and a two-hundred day moving average price of $231.91. The stock has a market cap of $8.29 billion, a PE ratio of 110.64 and a beta of 0.80. AppFolio has a 1 year low of $164.29 and a 1 year high of $274.56.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings data on Thursday, July 25th. The software maker reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.16. AppFolio had a net margin of 17.32% and a return on equity of 27.39%. The company had revenue of $197.38 million during the quarter, compared to the consensus estimate of $190.57 million. During the same period in the prior year, the business posted ($0.53) EPS. The company’s quarterly revenue was up 34.2% on a year-over-year basis. On average, analysts forecast that AppFolio will post 2.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AppFolio news, major shareholder Maurice J. Duca sold 876 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $252.82, for a total transaction of $221,470.32. Following the completion of the sale, the insider now directly owns 7,100 shares in the company, valued at $1,795,022. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other AppFolio news, Director Alexander Wolf sold 10,000 shares of the firm’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 completion of the sale, the director now directly owns 182,584 shares in the company, valued at $45,693,471.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Maurice J. Duca sold 876 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $252.82, for a total transaction of $221,470.32. Following the transaction, the insider now directly owns 7,100 shares in the company, valued at $1,795,022. The disclosure for this sale can be found here. Insiders sold 130,444 shares of company stock worth $31,124,559 over the last three months. Insiders own 9.15% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC increased its holdings in shares of AppFolio by 589.5% during the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after purchasing an additional 112 shares during the period. CWM LLC increased its holdings in shares of AppFolio by 238.6% during the second quarter. CWM LLC now owns 149 shares of the software maker’s stock worth $36,000 after purchasing an additional 105 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of AppFolio by 291.3% during the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock worth $44,000 after purchasing an additional 134 shares during the period. USA Financial Formulas bought a new position in shares of AppFolio during the fourth quarter worth approximately $59,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in AppFolio in the fourth quarter valued at approximately $64,000. 62.34% of the stock is owned by institutional investors.

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.