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

AppFolio, Inc. (NASDAQ:APPF) has earned an average rating of “Moderate Buy” from the eight analysts that are currently covering the firm, Marketbeat.com 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 1-year price objective among analysts that have covered the stock in the last year is $261.75.

A number of brokerages have recently weighed in on APPF. Keefe, Bruyette & Woods lowered AppFolio from a “market perform” rating to an “underperform” rating and cut their price objective for the stock from $255.00 to $193.00 in a research report on Tuesday, October 15th. Piper Sandler reduced their price objective on shares of AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. KeyCorp decreased their price objective on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Finally, StockNews.com lowered shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd.

Insider Buying and Selling

In other news, insider Matthew S. Mazza sold 5,090 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $236.24, for a total value of $1,202,461.60. Following the sale, the insider now directly owns 28,266 shares of the company’s stock, valued at $6,677,559.84. The trade was a 15.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Maurice J. Duca sold 200 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $232.18, for a total value of $46,436.00. Following the transaction, the insider now directly owns 18,922 shares of the company’s stock, valued at approximately $4,393,309.96. This trade represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,461 shares of company stock worth $5,766,272 in the last three months. 5.24% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AppFolio

A number of institutional investors have recently modified their holdings of APPF. Vanguard Group Inc. raised its position in shares of AppFolio by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 2,152,626 shares of the software maker’s stock worth $531,139,000 after purchasing an additional 73,965 shares during the last quarter. State Street Corp increased its stake in AppFolio by 8.2% during the 3rd quarter. State Street Corp now owns 653,136 shares of the software maker’s stock valued at $153,748,000 after purchasing an additional 49,238 shares in the last quarter. Geode Capital Management LLC increased its stake in AppFolio by 8.6% during the 3rd quarter. Geode Capital Management LLC now owns 413,032 shares of the software maker’s stock valued at $97,252,000 after purchasing an additional 32,743 shares in the last quarter. DF Dent & Co. Inc. raised its holdings in AppFolio by 10.1% in the third quarter. DF Dent & Co. Inc. now owns 351,691 shares of the software maker’s stock worth $82,788,000 after buying an additional 32,181 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of AppFolio by 13.5% in the second quarter. Bank of New York Mellon Corp now owns 241,801 shares of the software maker’s stock worth $59,137,000 after buying an additional 28,673 shares in the last quarter. 62.34% of the stock is owned by hedge funds and other institutional investors.

AppFolio Stock Down 0.2 %

NASDAQ:APPF opened at $254.82 on Friday. The firm has a market capitalization of $9.26 billion, a P/E ratio of 70.98 and a beta of 0.83. The company has a fifty day moving average of $224.38 and a 200 day moving average of $231.08. 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, October 24th. The software maker reported $1.29 EPS for the quarter, beating the consensus estimate of $1.03 by $0.26. The firm 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 company’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.26 earnings per share. As a group, analysts anticipate that AppFolio will post 3.23 EPS 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.