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

AppFolio, Inc. (NASDAQ:APPF) has earned an average recommendation of “Moderate Buy” from the eight research firms that are currently covering the firm, 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 updated their coverage on the stock in the last year is $261.75.

Several brokerages have commented on APPF. KeyCorp lowered their price objective on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. StockNews.com downgraded shares of AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd. Keefe, Bruyette & Woods downgraded AppFolio from a “market perform” rating to an “underperform” rating and decreased their price objective for the company from $255.00 to $193.00 in a report on Tuesday, October 15th. DA Davidson increased their price objective on AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Piper Sandler Companies restated an “overweight” rating and issued a $300.00 price objective on shares of AppFolio in a report on Friday, July 26th.

Insider Buying and Selling at AppFolio

In other news, major shareholder Maurice J. Duca sold 1,296 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $236.77, for a total transaction of $306,853.92. Following the transaction, the insider now owns 9,383 shares of the company’s stock, valued at $2,221,612.91. This represents a 12.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Matthew S. Mazza sold 926 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $229.04, for a total transaction of $212,091.04. Following the transaction, the insider now directly owns 33,819 shares in the company, valued at $7,745,903.76. This trade represents a 2.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,865 shares of company stock valued at $5,799,618. 5.24% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AppFolio

A number of institutional investors and hedge funds have recently made changes to their positions in APPF. US Bancorp DE boosted its position in shares of AppFolio by 200.8% during the 1st quarter. US Bancorp DE now owns 1,444 shares of the software maker’s stock worth $356,000 after purchasing an additional 964 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in AppFolio by 17.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 6,456 shares of the software maker’s stock valued at $1,593,000 after acquiring an additional 970 shares in the last quarter. Vanguard Group Inc. lifted its position in AppFolio by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 2,152,626 shares of the software maker’s stock valued at $531,139,000 after acquiring an additional 73,965 shares in the last quarter. American International Group Inc. lifted its position in AppFolio by 280.7% in the 1st quarter. American International Group Inc. now owns 36,367 shares of the software maker’s stock valued at $8,973,000 after acquiring an additional 26,815 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its position in AppFolio by 11.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 41,488 shares of the software maker’s stock valued at $10,243,000 after acquiring an additional 4,131 shares in the last quarter. Institutional investors own 62.34% of the company’s stock.

AppFolio Trading Up 2.5 %

Shares of APPF stock opened at $236.47 on Friday. The stock has a market cap of $8.59 billion, a P/E ratio of 65.87 and a beta of 0.83. The stock has a 50 day simple moving average of $222.54 and a 200 day simple moving average of $231.07. AppFolio has a 1 year low of $164.29 and a 1 year high of $274.56.

AppFolio (NASDAQ:APPF) last announced 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. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The business had revenue of $206.00 million during the quarter, compared to the consensus estimate of $199.11 million. During the same period in the previous year, the business earned $0.26 earnings per share. The company’s revenue was up 24.5% on a year-over-year basis. Analysts forecast 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.