AppFolio (NASDAQ:APPF) Given Overweight Rating at Stephens

Stephens reaffirmed their overweight rating on shares of AppFolio (NASDAQ:APPF) in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a $241.00 target price on the software maker’s stock.

Several other analysts also recently weighed in on the company. KeyCorp upped their price target on AppFolio from $264.00 to $275.00 and gave the stock an overweight rating in a research note on Friday. BTIG Research started coverage on AppFolio in a research note on Friday, January 19th. They issued a buy rating and a $215.00 price target on the stock. Keefe, Bruyette & Woods upped their price target on AppFolio from $215.00 to $238.00 and gave the stock a market perform rating in a research note on Friday. Finally, JPMorgan Chase & Co. upped their price target on AppFolio from $228.00 to $237.00 and gave the stock an overweight rating in a research note on Friday, January 26th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, AppFolio currently has an average rating of Moderate Buy and a consensus target price of $241.00.

AppFolio Stock Performance

APPF stock opened at $242.75 on Friday. The business’s 50 day moving average price is $229.41 and its two-hundred day moving average price is $204.69. AppFolio has a fifty-two week low of $123.36 and a fifty-two week high of $256.73. The company has a market capitalization of $8.71 billion, a price-to-earnings ratio of 8,094.36 and a beta of 0.80.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, January 25th. The software maker reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.29. The company had revenue of $171.83 million for the quarter, compared to the consensus estimate of $162.80 million. AppFolio had a negative return on equity of 8.58% and a net margin of 0.44%. Sell-side analysts forecast that AppFolio will post 2.66 earnings per share for the current year.

Insider Buying and Selling at AppFolio

In other AppFolio news, Director Olivia Nottebohm sold 989 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $241.75, for a total transaction of $239,090.75. Following the sale, the director now directly owns 1,909 shares in the company, valued at approximately $461,500.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Olivia Nottebohm sold 989 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $241.75, for a total value of $239,090.75. Following the transaction, the director now directly owns 1,909 shares in the company, valued at approximately $461,500.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Blottnitz Andreas Von sold 4,500 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $226.56, for a total value of $1,019,520.00. Following the completion of the transaction, the director now owns 5,449 shares in the company, valued at $1,234,525.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,489 shares of company stock worth $3,531,011. Insiders own 9.15% of the company’s stock.

Hedge Funds Weigh In On AppFolio

A number of institutional investors and hedge funds have recently modified their holdings of APPF. SG Americas Securities LLC purchased a new position in shares of AppFolio in the 3rd quarter worth $531,000. Harbor Capital Advisors Inc. raised its holdings in AppFolio by 10.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,575 shares of the software maker’s stock worth $653,000 after purchasing an additional 334 shares during the period. Cavalier Investments LLC raised its holdings in AppFolio by 3.8% in the 3rd quarter. Cavalier Investments LLC now owns 9,678 shares of the software maker’s stock worth $1,767,000 after purchasing an additional 350 shares during the period. Arcadia Investment Management Corp MI raised its holdings in AppFolio by 70.4% in the 3rd quarter. Arcadia Investment Management Corp MI now owns 138 shares of the software maker’s stock worth $25,000 after purchasing an additional 57 shares during the period. Finally, Verdence Capital Advisors LLC raised its holdings in AppFolio by 7.2% in the 3rd quarter. Verdence Capital Advisors LLC now owns 2,059 shares of the software maker’s stock worth $376,000 after purchasing an additional 139 shares during the period. 62.34% of the stock is currently owned by hedge funds and other 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.