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

Shares of AppFolio, Inc. (NASDAQ:APPF) have been given a consensus rating of “Buy” by the six research firms that are presently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have issued a report on the stock in the last year is $239.40.

A number of brokerages recently commented on APPF. JPMorgan Chase & Co. upped their price target on shares of AppFolio from $228.00 to $237.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. StockNews.com cut shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, December 21st. BTIG Research began coverage on shares of AppFolio in a research note on Friday, January 19th. They set a “buy” rating and a $215.00 price target on the stock. KeyCorp upped their price target on shares of AppFolio from $254.00 to $264.00 and gave the company an “overweight” rating in a research note on Monday, March 18th. Finally, Stephens reiterated an “overweight” rating and issued a $241.00 target price on shares of AppFolio in a research note on Friday, January 26th.

Insiders Place Their Bets

In other AppFolio news, Director Timothy K. Bliss sold 10,000 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $227.24, for a total value of $2,272,400.00. Following the sale, the director now directly owns 51,070 shares in the company, valued at approximately $11,605,146.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Olivia Nottebohm sold 989 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $241.75, for a total value of $239,090.75. Following the transaction, the director now owns 1,909 shares of the company’s stock, valued at approximately $461,500.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Timothy K. Bliss sold 10,000 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $227.24, for a total transaction of $2,272,400.00. Following the completion of the transaction, the director now directly owns 51,070 shares in the company, valued at approximately $11,605,146.80. The disclosure for this sale can be found here. Insiders have sold 15,489 shares of company stock worth $3,531,011 in the last three months. 9.15% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AppFolio

A number of institutional investors have recently made changes to their positions in APPF. MetLife Investment Management LLC grew its holdings in shares of AppFolio by 56.4% during the 1st quarter. MetLife Investment Management LLC now owns 9,835 shares of the software maker’s stock valued at $1,113,000 after purchasing an additional 3,545 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of AppFolio by 2.8% during the 1st quarter. Rhumbline Advisers now owns 19,928 shares of the software maker’s stock valued at $2,256,000 after purchasing an additional 535 shares during the last quarter. Blair William & Co. IL grew its holdings in shares of AppFolio by 2.3% during the 1st quarter. Blair William & Co. IL now owns 72,954 shares of the software maker’s stock valued at $8,259,000 after purchasing an additional 1,664 shares during the last quarter. Ergoteles LLC bought a new position in shares of AppFolio during the 1st quarter valued at $228,000. Finally, Federated Hermes Inc. bought a new position in shares of AppFolio during the 1st quarter valued at $39,000. Institutional investors own 62.34% of the company’s stock.

AppFolio Stock Down 3.0 %

APPF opened at $225.40 on Thursday. The stock has a market cap of $8.08 billion, a price-to-earnings ratio of 7,513.33 and a beta of 0.80. AppFolio has a twelve month low of $123.36 and a twelve month high of $253.42. The company’s 50-day moving average price is $232.76 and its two-hundred day moving average price is $202.28.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, January 25th. The software maker reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.29. The company had revenue of $171.83 million for the quarter, compared to analysts’ expectations of $162.80 million. AppFolio had a net margin of 0.44% and a negative return on equity of 8.58%. As a group, sell-side analysts anticipate that AppFolio will post 2.66 earnings per share for the current year.

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.