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

AppFolio, Inc. (NASDAQ:APPF) has earned an average recommendation of “Moderate Buy” from the eight brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $261.75.

APPF has been the subject of a number of research reports. Piper Sandler cut their price objective on AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Keefe, Bruyette & Woods lowered AppFolio from a “market perform” rating to an “underperform” rating and cut their target price for the stock from $255.00 to $193.00 in a research note on Tuesday, October 15th. Finally, KeyCorp decreased their price target on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th.

Insider Activity

In other AppFolio news, CEO William Shane Trigg sold 4,145 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $263.32, for a total value of $1,091,461.40. Following the transaction, the chief executive officer now owns 73,682 shares in the company, valued at approximately $19,401,944.24. The trade was a 5.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Matthew S. Mazza sold 5,090 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $236.24, for a total transaction of $1,202,461.60. Following the sale, the insider now owns 28,266 shares of the company’s stock, valued at approximately $6,677,559.84. This represents a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,064 shares of company stock valued at $6,051,745. 5.24% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Blue Trust Inc. grew its position in shares of AppFolio by 85.7% in the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock worth $29,000 after buying an additional 54 shares during the last quarter. CWM LLC lifted its stake in AppFolio by 238.6% in the second quarter. CWM LLC now owns 149 shares of the software maker’s stock worth $36,000 after acquiring an additional 105 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in AppFolio by 688.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock valued at $52,000 after acquiring an additional 186 shares in the last quarter. Quarry LP increased its position in AppFolio by 147.9% during the 2nd quarter. Quarry LP now owns 238 shares of the software maker’s stock valued at $58,000 after purchasing an additional 142 shares during the period. Finally, True Wealth Design LLC bought a new position in AppFolio in the 3rd quarter worth $79,000. Hedge funds and other institutional investors own 85.19% of the company’s stock.

AppFolio Price Performance

APPF stock opened at $249.05 on Tuesday. The firm has a 50 day simple moving average of $234.53 and a two-hundred day simple moving average of $233.86. The stock has a market cap of $9.05 billion, a PE ratio of 69.37 and a beta of 0.86. AppFolio has a one year low of $164.29 and a one year high of $274.56.

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, topping analysts’ consensus estimates of $1.03 by $0.26. The company had revenue of $206.00 million during 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 firm’s revenue was up 24.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.26 EPS. On average, research analysts expect that AppFolio will post 3.23 EPS for the current fiscal 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.