AppFolio, Inc. (NASDAQ:APPF) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of AppFolio, Inc. (NASDAQ:APPF) have received an average rating of “Moderate Buy” from the nine brokerages that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $270.8333.

A number of analysts recently commented on the stock. UBS Group set a $260.00 target price on shares of AppFolio and gave the stock a “buy” rating in a research note on Friday, January 30th. William Blair reiterated an “outperform” rating on shares of AppFolio in a research note on Friday, January 30th. KeyCorp reissued an “overweight” rating on shares of AppFolio in a report on Monday, February 2nd. Weiss Ratings downgraded AppFolio from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, January 16th. Finally, DA Davidson lowered their price target on AppFolio from $325.00 to $275.00 and set a “buy” rating for the company in a research report on Friday, January 30th.

Insider Buying and Selling at AppFolio

In other news, CFO Timothy Mathias Eaton sold 517 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $228.34, for a total value of $118,051.78. Following the completion of the transaction, the chief financial officer owned 10,104 shares of the company’s stock, valued at $2,307,147.36. The trade was a 4.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William Shane Trigg sold 3,947 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $240.45, for a total value of $949,056.15. Following the completion of the transaction, the chief executive officer directly owned 51,530 shares of the company’s stock, valued at $12,390,388.50. The trade was a 7.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 8,411 shares of company stock worth $2,016,164. 4.68% of the stock is owned by corporate insiders.

Institutional Trading of AppFolio

Institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC bought a new position in shares of AppFolio in the 3rd quarter worth about $8,275,000. Highland Capital Management LLC bought a new stake in AppFolio during the third quarter worth about $1,435,000. Mission Wealth Management LP grew its holdings in AppFolio by 16.7% in the third quarter. Mission Wealth Management LP now owns 49,201 shares of the software maker’s stock worth $13,563,000 after purchasing an additional 7,042 shares during the period. Quantum Portfolio Management LLC grew its holdings in AppFolio by 134.6% in the third quarter. Quantum Portfolio Management LLC now owns 10,002 shares of the software maker’s stock worth $2,757,000 after purchasing an additional 5,739 shares during the period. Finally, AGF Management Ltd. bought a new position in shares of AppFolio during the second quarter valued at approximately $3,296,000. Institutional investors and hedge funds own 85.19% of the company’s stock.

AppFolio Stock Performance

NASDAQ APPF opened at $178.41 on Friday. The company has a market cap of $6.42 billion, a PE ratio of 45.98 and a beta of 0.75. AppFolio has a 52-week low of $173.10 and a 52-week high of $326.04. The firm’s 50 day moving average price is $217.46 and its 200-day moving average price is $244.38.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, January 29th. The software maker reported $1.39 EPS for the quarter, beating the consensus estimate of $1.22 by $0.17. AppFolio had a net margin of 14.82% and a return on equity of 29.79%. The business had revenue of $248.19 million during the quarter, compared to analyst estimates of $246.56 million. During the same period in the prior year, the firm posted $0.92 earnings per share. The company’s quarterly revenue was up 21.7% on a year-over-year basis. On average, analysts forecast that AppFolio will post 3.96 earnings per share for the current fiscal year.

About AppFolio

AppFolio, Inc is a Santa Barbara–based provider of cloud-based software solutions for the property management and legal industries. Founded in 2006 by former software executives, the company went public on the NASDAQ under the symbol APPF in 2015. Its original offering, AppFolio Property Manager, automates accounting, marketing, leasing, and maintenance functions for residential, commercial, student housing, and community association managers.

In 2019, AppFolio expanded its portfolio with the acquisition of MyCase, a web-based legal practice management platform for small to mid-size law firms.