Brokerages Set AppFolio, Inc. (NASDAQ:APPF) PT at $261.75

AppFolio, Inc. (NASDAQ:APPF) has been assigned an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $261.75.

A number of research analysts have issued reports on APPF shares. StockNews.com cut shares of AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd. KeyCorp lowered their price target on AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Piper Sandler cut their price objective on AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. DA Davidson lifted their target price on AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Keefe, Bruyette & Woods downgraded shares of AppFolio from a “market perform” rating to an “underperform” rating and cut their price target for the stock from $255.00 to $193.00 in a report on Tuesday, October 15th.

Insider Buying and Selling

In other AppFolio news, insider Matthew S. Mazza sold 2,371 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $221.22, for a total value of $524,512.62. Following the completion of the transaction, the insider now owns 39,980 shares in the company, valued at approximately $8,844,375.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, major shareholder Maurice J. Duca sold 1,296 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $236.77, for a total value of $306,853.92. Following the completion of the sale, the insider now directly owns 9,383 shares in the company, valued at $2,221,612.91. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Matthew S. Mazza sold 2,371 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $221.22, for a total value of $524,512.62. Following the transaction, the insider now directly owns 39,980 shares of the company’s stock, valued at approximately $8,844,375.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,652 shares of company stock valued at $4,053,818. Corporate insiders own 5.24% of the company’s stock.

Hedge Funds Weigh In On AppFolio

A number of large investors have recently added to or reduced their stakes in APPF. Vanguard Group Inc. raised its position in shares of AppFolio by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 2,152,626 shares of the software maker’s stock worth $531,139,000 after purchasing an additional 73,965 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of AppFolio by 13.5% during the second quarter. Bank of New York Mellon Corp now owns 241,801 shares of the software maker’s stock valued at $59,137,000 after acquiring an additional 28,673 shares during the last quarter. Driehaus Capital Management LLC lifted its position in shares of AppFolio by 16.7% in the second quarter. Driehaus Capital Management LLC now owns 227,632 shares of the software maker’s stock valued at $55,672,000 after acquiring an additional 32,633 shares in the last quarter. Squarepoint Ops LLC boosted its stake in shares of AppFolio by 188.2% in the second quarter. Squarepoint Ops LLC now owns 185,034 shares of the software maker’s stock worth $45,254,000 after acquiring an additional 120,835 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of AppFolio by 16.1% during the third quarter. Principal Financial Group Inc. now owns 177,831 shares of the software maker’s stock worth $41,861,000 after purchasing an additional 24,697 shares in the last quarter. 62.34% of the stock is currently owned by institutional investors and hedge funds.

AppFolio Price Performance

Shares of NASDAQ:APPF opened at $208.52 on Monday. The business’s 50-day moving average is $222.26 and its 200 day moving average is $230.68. AppFolio has a 1 year low of $164.29 and a 1 year high of $274.56. The firm has a market capitalization of $7.58 billion, a P/E ratio of 58.08 and a beta of 0.83.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.26. The firm had revenue of $206.00 million for the quarter, compared to the consensus estimate of $199.11 million. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The company’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.26 earnings per share. On average, analysts expect that AppFolio will post 3.2 EPS for the current year.

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.