Piper Sandler Reiterates Neutral Rating for AppFolio (NASDAQ:APPF)

AppFolio (NASDAQ:APPF)‘s stock had its “neutral” rating reiterated by research analysts at Piper Sandler in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $265.00 price target on the software maker’s stock. Piper Sandler’s price target indicates a potential upside of 12.93% from the company’s previous close.

Several other brokerages also recently commented on APPF. KeyCorp downgraded shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price objective for the company. in a research note on Friday, January 10th. DA Davidson dropped their price objective on AppFolio from $300.00 to $275.00 and set a “buy” rating for the company in a report on Monday, April 14th. Stephens reissued an “overweight” rating and set a $295.00 target price on shares of AppFolio in a research note on Friday, January 31st. Finally, William Blair reaffirmed an “outperform” rating on shares of AppFolio in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, AppFolio presently has an average rating of “Hold” and an average target price of $272.71.

AppFolio Price Performance

APPF opened at $234.65 on Wednesday. The stock’s 50 day simple moving average is $218.47 and its 200 day simple moving average is $231.10. The firm has a market cap of $8.54 billion, a price-to-earnings ratio of 42.28 and a beta of 0.86. AppFolio has a 1 year low of $189.01 and a 1 year high of $274.56.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, April 24th. The software maker reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.37). AppFolio had a return on equity of 26.21% and a net margin of 25.69%. As a group, sell-side analysts anticipate that AppFolio will post 3.96 EPS for the current year.

Insider Activity at AppFolio

In other news, CEO William Shane Trigg sold 3,501 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $217.27, for a total transaction of $760,662.27. Following the sale, the chief executive officer now owns 83,824 shares in the company, valued at approximately $18,212,440.48. The trade was a 4.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Alexander Wolf bought 9,678 shares of AppFolio stock in a transaction dated Thursday, February 13th. The stock was acquired at an average cost of $214.81 per share, for a total transaction of $2,078,931.18. Following the completion of the transaction, the director now directly owns 3,226 shares in the company, valued at approximately $692,977.06. This trade represents a -150.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 5.24% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AppFolio

Large investors have recently made changes to their positions in the business. Stifel Financial Corp grew its stake in shares of AppFolio by 45.0% in the 3rd quarter. Stifel Financial Corp now owns 1,853 shares of the software maker’s stock worth $436,000 after buying an additional 575 shares during the last quarter. Barclays PLC boosted its holdings in AppFolio by 20.5% in the third quarter. Barclays PLC now owns 9,888 shares of the software maker’s stock worth $2,327,000 after acquiring an additional 1,681 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in AppFolio in the third quarter worth $687,000. Tidal Investments LLC increased its holdings in shares of AppFolio by 2.9% during the third quarter. Tidal Investments LLC now owns 1,425 shares of the software maker’s stock valued at $335,000 after acquiring an additional 40 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of AppFolio by 31.2% during the third quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker’s stock valued at $51,800,000 after acquiring 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.