Brokerages Set AppFolio, Inc. (NASDAQ:APPF) Target Price at $274.43

Shares of AppFolio, Inc. (NASDAQ:APPF) have been assigned a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $274.43.

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

Insider Activity at AppFolio

In other AppFolio news, insider Elizabeth Erin Barat sold 4,682 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $227.79, for a total value of $1,066,512.78. Following the sale, the insider now directly owns 17,926 shares of the company’s stock, valued at $4,083,363.54. This trade represents a 20.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William Shane Trigg sold 5,900 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $211.45, for a total value of $1,247,555.00. Following the completion of the sale, the chief executive officer now directly owns 70,647 shares in the company, valued at $14,938,308.15. This represents a 7.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 18,500 shares of company stock valued at $4,024,220 and have sold 11,639 shares valued at $2,547,802. Corporate insiders own 4.68% of the company’s stock.

Institutional Investors Weigh In On AppFolio

Several large investors have recently added to or reduced their stakes in APPF. Colonial Trust Co SC bought a new position in shares of AppFolio in the fourth quarter worth $28,000. Fifth Third Bancorp boosted its position in shares of AppFolio by 53.0% in the 1st quarter. Fifth Third Bancorp now owns 179 shares of the software maker’s stock valued at $39,000 after purchasing an additional 62 shares during the period. Versant Capital Management Inc lifted its stake in AppFolio by 4,975.0% in the 1st quarter. Versant Capital Management Inc now owns 203 shares of the software maker’s stock worth $45,000 after acquiring an additional 199 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in AppFolio in the 4th quarter worth about $50,000. Finally, Aster Capital Management DIFC Ltd lifted its stake in AppFolio by 10,300.0% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 208 shares of the software maker’s stock worth $51,000 after acquiring an additional 206 shares in the last quarter. 85.19% of the stock is owned by institutional investors and hedge funds.

AppFolio Stock Down 0.6%

Shares of APPF opened at $225.57 on Tuesday. The business’s 50 day moving average is $215.81 and its two-hundred day moving average is $229.10. AppFolio has a 52-week low of $189.01 and a 52-week high of $274.56. The firm has a market cap of $8.13 billion, a price-to-earnings ratio of 40.64 and a beta of 0.87.

AppFolio (NASDAQ:APPF) last announced its earnings results on Thursday, April 24th. The software maker reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). AppFolio had a net margin of 25.69% and a return on equity of 26.21%. The business had revenue of $217.70 million during the quarter, compared to analyst estimates of $220.95 million. During the same period in the previous year, the company earned $1.05 earnings per share. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, equities analysts expect that AppFolio will post 3.96 earnings per share for the current fiscal year.

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.