AppFolio (NASDAQ:APPF) Now Covered by Analysts at Piper Sandler

Piper Sandler initiated coverage on shares of AppFolio (NASDAQ:APPFFree Report) in a research report report published on Monday morning, Benzinga reports. The brokerage issued an overweight rating and a $295.00 target price on the software maker’s stock.

A number of other analysts have also recently weighed in on the stock. Stephens reissued an overweight rating and issued a $241.00 target price on shares of AppFolio in a research note on Friday, April 26th. Keefe, Bruyette & Woods upped their target price on shares of AppFolio from $215.00 to $238.00 and gave the company a market perform rating in a research note on Friday, April 26th. Finally, KeyCorp upped their target price on shares of AppFolio from $264.00 to $275.00 and gave the company an overweight rating in a research note on Friday, April 26th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $248.71.

Check Out Our Latest Report on AppFolio

AppFolio Stock Performance

NASDAQ:APPF opened at $231.30 on Monday. The firm’s 50-day moving average is $232.14 and its 200-day moving average is $215.08. AppFolio has a 52-week low of $162.32 and a 52-week high of $256.73. The company has a market cap of $8.38 billion, a price-to-earnings ratio of 111.74 and a beta of 0.80.

AppFolio (NASDAQ:APPFGet Free Report) last posted its quarterly earnings data on Thursday, April 25th. The software maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate 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. Equities analysts predict that AppFolio will post 2.87 EPS for the current year.

Insider Buying and Selling at AppFolio

In other AppFolio news, Director Timothy K. Bliss sold 15,000 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $231.20, for a total value of $3,468,000.00. Following the transaction, the director now directly owns 38,270 shares in the company, valued at $8,848,024. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Timothy K. Bliss sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $231.20, for a total transaction of $3,468,000.00. Following the transaction, the director now directly owns 38,270 shares in the company, valued at $8,848,024. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alexander Wolf sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $250.26, for a total transaction of $2,502,600.00. Following the transaction, the director now owns 182,584 shares in the company, valued at $45,693,471.84. The disclosure for this sale can be found here. Insiders have sold a total of 75,261 shares of company stock worth $17,754,737 over the last ninety days. Corporate insiders own 9.15% of the company’s stock.

Hedge Funds Weigh In On AppFolio

A number of large investors have recently modified their holdings of APPF. DekaBank Deutsche Girozentrale acquired a new position in AppFolio in the first quarter valued at approximately $235,000. EULAV Asset Management acquired a new position in AppFolio in the first quarter valued at approximately $2,690,000. Comerica Bank lifted its holdings in AppFolio by 129.9% in the first quarter. Comerica Bank now owns 13,683 shares of the software maker’s stock valued at $3,376,000 after buying an additional 7,732 shares during the period. Caxton Associates LP acquired a new position in AppFolio in the first quarter valued at approximately $290,000. Finally, Paloma Partners Management Co acquired a new position in AppFolio in the first quarter valued at approximately $336,000. 62.34% of the stock is currently owned by institutional investors and hedge funds.

AppFolio Company Profile

(Get Free Report)

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.

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Analyst Recommendations for AppFolio (NASDAQ:APPF)

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