AppFolio, Inc. (NASDAQ:APPF) Given Consensus Recommendation of “Moderate Buy” by Brokerages

AppFolio, Inc. (NASDAQ:APPF) has earned a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $274.43.

Several equities research analysts have recently issued reports on APPF shares. Piper Sandler reissued a “neutral” rating and set a $265.00 target price on shares of AppFolio in a research note on Wednesday, April 23rd. DA Davidson raised AppFolio to a “strong-buy” rating in a report on Tuesday, May 13th. Finally, Keefe, Bruyette & Woods dropped their price objective on AppFolio from $210.00 to $205.00 and set an “underweight” rating on the stock in a report on Friday, April 25th.

AppFolio Stock Up 0.3%

Shares of APPF stock opened at $217.95 on Tuesday. AppFolio has a 52-week low of $189.01 and a 52-week high of $274.56. The stock has a market cap of $7.85 billion, a PE ratio of 39.27 and a beta of 0.87. The business has a 50-day simple moving average of $214.91 and a 200-day simple moving average of $229.67.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, April 24th. The software maker reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.02). AppFolio had a net margin of 25.69% and a return on equity of 26.21%. The company had revenue of $217.70 million for the quarter, compared to analysts’ expectations of $220.95 million. During the same quarter in the prior year, the business posted $1.05 earnings per share. The firm’s revenue was up 15.9% compared to the same quarter last year. Sell-side analysts anticipate that AppFolio will post 3.96 earnings per share for the current fiscal year.

Insider Buying and Selling at AppFolio

In other news, CEO William Shane Trigg sold 5,900 shares of the company’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $211.45, for a total transaction of $1,247,555.00. Following the completion of the sale, the chief executive officer now owns 70,647 shares of the company’s stock, valued at $14,938,308.15. This represents a 7.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Timothy K. Bliss purchased 7,000 shares of the firm’s stock in a transaction dated Monday, June 9th. The stock was acquired at an average cost of $217.95 per share, for a total transaction of $1,525,650.00. Following the completion of the purchase, the director now owns 22,000 shares of the company’s stock, valued at approximately $4,794,900. This represents a 46.67% increase in their position. The disclosure for this purchase can be found here. Insiders bought 18,500 shares of company stock valued at $4,024,220 over the last quarter. 4.68% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in AppFolio by 3.8% in the 4th quarter. Vanguard Group Inc. now owns 2,495,527 shares of the software maker’s stock valued at $615,696,000 after buying an additional 91,174 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of AppFolio by 84.4% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 773,579 shares of the software maker’s stock valued at $170,110,000 after purchasing an additional 354,061 shares during the period. AQR Capital Management LLC increased its position in AppFolio by 43.2% during the fourth quarter. AQR Capital Management LLC now owns 655,625 shares of the software maker’s stock worth $161,756,000 after purchasing an additional 197,700 shares during the last quarter. FMR LLC boosted its holdings in AppFolio by 881.2% in the 4th quarter. FMR LLC now owns 597,485 shares of the software maker’s stock valued at $147,411,000 after purchasing an additional 536,591 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC grew its holdings in shares of AppFolio by 4.7% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 572,917 shares of the software maker’s stock worth $141,350,000 after purchasing an additional 25,566 shares during the period. 85.19% of the stock is currently owned by institutional investors and hedge funds.

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.