Stephens Reiterates Overweight Rating for AppFolio (NASDAQ:APPF)

AppFolio (NASDAQ:APPF)‘s stock had its “overweight” rating restated by Stephens in a report released on Friday, Benzinga reports. They presently have a $241.00 price target on the software maker’s stock. Stephens’ price target would indicate a potential downside of 0.72% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods boosted their price objective on shares of AppFolio from $215.00 to $238.00 and gave the company a “market perform” rating in a research report on Friday. BTIG Research assumed coverage on shares of AppFolio in a research report on Friday, January 19th. They issued a “buy” rating and a $215.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on shares of AppFolio from $228.00 to $237.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Finally, KeyCorp boosted their price target on shares of AppFolio from $264.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $241.00.

AppFolio Stock Up 12.0 %

Shares of APPF stock opened at $242.75 on Friday. The firm has a market capitalization of $8.71 billion, a price-to-earnings ratio of 117.27 and a beta of 0.80. AppFolio has a 12-month low of $123.36 and a 12-month high of $256.73. The firm has a fifty day moving average of $229.59 and a 200-day moving average of $205.11.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings data on Thursday, January 25th. The software maker reported $0.61 EPS for the quarter, beating the consensus estimate of $0.32 by $0.29. The business had revenue of $171.83 million for the quarter, compared to analysts’ expectations of $162.80 million. AppFolio had a net margin of 11.38% and a return on equity of 14.51%. Research analysts expect that AppFolio will post 2.66 earnings per share for the current year.

Insiders Place Their Bets

In other AppFolio news, Director Blottnitz Andreas Von sold 4,500 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $226.56, for a total transaction of $1,019,520.00. Following the sale, the director now directly owns 5,449 shares of the company’s stock, valued at approximately $1,234,525.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Timothy K. Bliss sold 10,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $11,605,146.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Blottnitz Andreas Von sold 4,500 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $226.56, for a total transaction of $1,019,520.00. Following the completion of the sale, the director now directly owns 5,449 shares in the company, valued at $1,234,525.44. The disclosure for this sale can be found here. Insiders have sold 15,489 shares of company stock valued at $3,531,011 in the last three months. 9.15% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AppFolio

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of AppFolio by 3.8% in the 4th quarter. Vanguard Group Inc. now owns 2,078,661 shares of the software maker’s stock valued at $360,107,000 after purchasing an additional 76,934 shares during the period. Fred Alger Management LLC lifted its position in AppFolio by 12.2% during the third quarter. Fred Alger Management LLC now owns 572,007 shares of the software maker’s stock worth $104,466,000 after acquiring an additional 62,347 shares during the last quarter. Gilder Gagnon Howe & Co. LLC lifted its position in AppFolio by 3.8% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 421,309 shares of the software maker’s stock worth $72,988,000 after acquiring an additional 15,283 shares during the last quarter. Norges Bank acquired a new stake in AppFolio during the fourth quarter worth approximately $38,458,000. Finally, Zeno Equity Partners LLP lifted its position in AppFolio by 6.6% during the first quarter. Zeno Equity Partners LLP now owns 205,781 shares of the software maker’s stock worth $50,774,000 after acquiring an additional 12,786 shares during the last quarter. 62.34% of the stock is owned by institutional investors.

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.