AppFolio (NASDAQ:APPF) Price Target Raised to $300.00

AppFolio (NASDAQ:APPF) had its target price hoisted by equities researchers at Piper Sandler from $295.00 to $300.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the software maker’s stock. Piper Sandler’s price objective points to a potential upside of 15.80% from the stock’s previous close.

APPF has been the topic of several other reports. JPMorgan Chase & Co. increased their price target on AppFolio from $260.00 to $328.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Piper Sandler Companies reiterated an “overweight” rating and set a $300.00 price objective on shares of AppFolio in a research report on Friday. KeyCorp raised their target price on AppFolio from $264.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Keefe, Bruyette & Woods upped their price target on shares of AppFolio from $215.00 to $238.00 and gave the company a “market perform” rating in a research report on Friday, April 26th. Finally, Stephens reissued an “overweight” rating and issued a $241.00 price objective on shares of AppFolio in a report on Friday, April 26th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, AppFolio presently has a consensus rating of “Moderate Buy” and an average price target of $267.13.

AppFolio Stock Performance

APPF opened at $259.07 on Friday. The company’s 50-day simple moving average is $242.72 and its two-hundred day simple moving average is $230.34. The stock has a market capitalization of $9.38 billion, a P/E ratio of 125.16 and a beta of 0.80. AppFolio has a 52-week low of $164.29 and a 52-week high of $274.56.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Thursday, April 25th. The software maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.09. AppFolio had a net margin of 11.38% and a return on equity of 13.51%. The company had revenue of $187.43 million for the quarter, compared to the consensus estimate of $173.66 million. Research analysts forecast that AppFolio will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling

In other AppFolio news, major shareholder Maurice J. Duca sold 4,462 shares of AppFolio stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $261.19, for a total transaction of $1,165,429.78. Following the transaction, the insider now owns 49,784 shares of the company’s stock, valued at $13,003,082.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Alexander Wolf sold 10,000 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $250.26, for a total value of $2,502,600.00. Following the completion of the transaction, the director now owns 182,584 shares of the company’s stock, valued at approximately $45,693,471.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Maurice J. Duca sold 4,462 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $261.19, for a total value of $1,165,429.78. Following the sale, the insider now directly owns 49,784 shares in the company, valued at $13,003,082.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 130,444 shares of company stock valued at $31,124,559. 9.15% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AppFolio

A number of hedge funds have recently made changes to their positions in APPF. GAMMA Investing LLC raised its stake in AppFolio by 589.5% during the 2nd quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock valued at $32,000 after purchasing an additional 112 shares during the period. CWM LLC grew its holdings in AppFolio by 238.6% during the 2nd quarter. CWM LLC now owns 149 shares of the software maker’s stock valued at $36,000 after buying an additional 105 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in AppFolio by 291.3% during the 1st quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock valued at $44,000 after buying an additional 134 shares in the last quarter. USA Financial Formulas bought a new stake in shares of AppFolio during the fourth quarter valued at approximately $59,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of AppFolio in the fourth quarter worth $64,000. Institutional investors own 62.34% of the company’s stock.

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.