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

AppFolio, Inc. (NASDAQ:APPF) has been given an average rating of “Moderate Buy” by the nine research firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $306.00.

APPF has been the topic of a number of recent research reports. Weiss Ratings lowered shares of AppFolio from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. Keefe, Bruyette & Woods upgraded shares of AppFolio from a “market perform” rating to an “outperform” rating and set a $311.00 target price on the stock in a research report on Friday, October 24th. DA Davidson reiterated a “buy” rating and issued a $325.00 price target on shares of AppFolio in a research report on Wednesday, November 19th. UBS Group began coverage on AppFolio in a research note on Friday, December 12th. They issued a “buy” rating and a $285.00 price target for the company. Finally, KeyCorp reissued an “overweight” rating on shares of AppFolio in a research report on Tuesday, December 16th.

Insider Transactions at AppFolio

In related news, CEO William Shane Trigg sold 3,947 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $240.45, for a total transaction of $949,056.15. Following the completion of the sale, the chief executive officer owned 51,530 shares of the company’s stock, valued at $12,390,388.50. This represents a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Timothy Mathias Eaton sold 517 shares of the stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $228.34, for a total transaction of $118,051.78. Following the sale, the chief financial officer owned 10,104 shares in the company, valued at $2,307,147.36. The trade was a 4.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 8,745 shares of company stock valued at $2,097,550. 4.68% of the stock is owned by corporate insiders.

Institutional Trading of AppFolio

A number of institutional investors and hedge funds have recently made changes to their positions in the company. ProShare Advisors LLC lifted its position in AppFolio by 3.6% in the 2nd quarter. ProShare Advisors LLC now owns 1,078 shares of the software maker’s stock valued at $248,000 after acquiring an additional 37 shares in the last quarter. Truist Financial Corp increased its holdings in AppFolio by 1.1% during the 3rd quarter. Truist Financial Corp now owns 3,928 shares of the software maker’s stock worth $1,083,000 after purchasing an additional 43 shares in the last quarter. State of New Jersey Common Pension Fund D raised its stake in shares of AppFolio by 0.5% in the second quarter. State of New Jersey Common Pension Fund D now owns 9,041 shares of the software maker’s stock worth $2,082,000 after purchasing an additional 44 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of AppFolio by 0.4% in the third quarter. Amalgamated Bank now owns 11,068 shares of the software maker’s stock valued at $3,051,000 after purchasing an additional 46 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC lifted its holdings in shares of AppFolio by 3.1% in the third quarter. Linden Thomas Advisory Services LLC now owns 1,515 shares of the software maker’s stock valued at $418,000 after purchasing an additional 46 shares in the last quarter. Institutional investors own 85.19% of the company’s stock.

AppFolio Price Performance

APPF opened at $211.29 on Wednesday. The business has a fifty day simple moving average of $230.55 and a 200 day simple moving average of $251.23. AppFolio has a 1 year low of $190.24 and a 1 year high of $326.04. The company has a market capitalization of $7.59 billion, a PE ratio of 37.93 and a beta of 0.78.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings data on Thursday, October 30th. The software maker reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.45 by ($0.14). The firm had revenue of $249.35 million for the quarter, compared to the consensus estimate of $245.39 million. AppFolio had a return on equity of 25.97% and a net margin of 22.48%.The firm’s quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.29 EPS. Equities analysts anticipate that AppFolio will post 3.96 earnings per share for the current fiscal year.

About AppFolio

AppFolio, Inc is a Santa Barbara–based provider of cloud-based software solutions for the property management and legal industries. Founded in 2006 by former software executives, the company went public on the NASDAQ under the symbol APPF in 2015. Its original offering, AppFolio Property Manager, automates accounting, marketing, leasing, and maintenance functions for residential, commercial, student housing, and community association managers.

In 2019, AppFolio expanded its portfolio with the acquisition of MyCase, a web-based legal practice management platform for small to mid-size law firms.