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

Shares of AppFolio, Inc. (NASDAQ:APPF) have been assigned a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $252.2857.

Several research analysts have recently weighed in on the stock. Piper Sandler dropped their target price on shares of AppFolio from $245.00 to $210.00 and set an “overweight” rating on the stock in a research report on Friday, April 24th. Benchmark raised their price objective on shares of AppFolio from $222.00 to $226.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Weiss Ratings cut shares of AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. Wall Street Zen downgraded shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Finally, KeyCorp restated an “overweight” rating on shares of AppFolio in a report on Monday, July 6th.

Insider Activity

In related news, insider Elizabeth Erin Barat sold 1,978 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $158.12, for a total value of $312,761.36. Following the completion of the sale, the insider directly owned 21,545 shares of the company’s stock, valued at approximately $3,406,695.40. This represents a 8.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder Maurice J. Duca sold 7,200 shares of the stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $180.32, for a total value of $1,298,304.00. Following the completion of the sale, the insider directly owned 42,400 shares of the company’s stock, valued at approximately $7,645,568. This represents a 14.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 30,657 shares of company stock valued at $5,310,740 in the last ninety days. Corporate insiders own 1.57% of the company’s stock.

Institutional Trading of AppFolio

Hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its holdings in shares of AppFolio by 101.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock worth $26,000 after purchasing an additional 56 shares during the period. Optiver Holding B.V. increased its stake in AppFolio by 827.8% in the 1st quarter. Optiver Holding B.V. now owns 167 shares of the software maker’s stock valued at $26,000 after buying an additional 149 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in AppFolio by 48.8% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker’s stock worth $53,000 after buying an additional 63 shares in the last quarter. Advisory Services Network LLC purchased a new stake in AppFolio in the 3rd quarter worth approximately $55,000. Finally, Employees Retirement System of Texas purchased a new stake in AppFolio in the 3rd quarter worth approximately $58,000. 85.19% of the stock is owned by hedge funds and other institutional investors.

AppFolio Stock Down 3.0%

NASDAQ:APPF opened at $174.46 on Wednesday. AppFolio has a 1-year low of $142.56 and a 1-year high of $326.04. The firm has a market capitalization of $6.17 billion, a price-to-earnings ratio of 41.54 and a beta of 0.79. The stock has a fifty day simple moving average of $162.70 and a 200 day simple moving average of $177.01.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings data on Thursday, April 23rd. The software maker reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.14. AppFolio had a return on equity of 32.35% and a net margin of 15.27%.The firm had revenue of $262.21 million for the quarter, compared to the consensus estimate of $258.13 million. During the same quarter in the previous year, the company earned $1.21 EPS. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. Equities analysts predict that AppFolio will post 5.04 earnings per share for the current year.

AppFolio Company Profile

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.