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

Shares of AppFolio, Inc. (NASDAQ:APPF) have been assigned an average recommendation of “Moderate Buy” from the ten research firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $252.2857.

A number of brokerages have commented on APPF. Weiss Ratings lowered AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. UBS Group set a $210.00 target price on AppFolio in a report on Friday, April 24th. Piper Sandler reduced their target price on shares of AppFolio from $245.00 to $210.00 and set an “overweight” rating for the company in a research report on Friday, April 24th. Benchmark upped their price target on shares of AppFolio from $222.00 to $226.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Finally, Wall Street Zen upgraded shares of AppFolio from a “hold” rating to a “buy” rating in a research note on Saturday.

Insider Transactions at AppFolio

In other news, insider Elizabeth Erin Barat sold 1,978 shares of AppFolio stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $158.12, for a total value of $312,761.36. Following the completion of the sale, the insider directly owned 21,545 shares in the company, valued at approximately $3,406,695.40. The trade was a 8.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Timothy Mathias Eaton sold 2,585 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $160.07, for a total value of $413,780.95. Following the completion of the sale, the chief financial officer owned 18,036 shares of the company’s stock, valued at approximately $2,887,022.52. This trade represents a 12.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 30,657 shares of company stock worth $5,310,740. Company insiders own 1.57% of the company’s stock.

Hedge Funds Weigh In On AppFolio

A number of hedge funds have recently added to or reduced their stakes in APPF. Royal Bank of Canada lifted its position in shares of AppFolio by 22.6% during the 1st quarter. Royal Bank of Canada now owns 45,452 shares of the software maker’s stock valued at $9,993,000 after acquiring an additional 8,367 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of AppFolio by 23.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 384 shares of the software maker’s stock worth $84,000 after purchasing an additional 73 shares during the period. Millennium Management LLC increased its position in shares of AppFolio by 237.7% in the first quarter. Millennium Management LLC now owns 18,055 shares of the software maker’s stock worth $3,970,000 after purchasing an additional 12,709 shares during the period. Jones Financial Companies Lllp raised its stake in AppFolio by 164.8% in the first quarter. Jones Financial Companies Lllp now owns 654 shares of the software maker’s stock valued at $144,000 after purchasing an additional 407 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in AppFolio by 322.5% in the first quarter. Goldman Sachs Group Inc. now owns 66,777 shares of the software maker’s stock valued at $14,684,000 after purchasing an additional 50,970 shares in the last quarter. Institutional investors own 85.19% of the company’s stock.

AppFolio Stock Down 6.3%

Shares of NASDAQ:APPF opened at $167.84 on Wednesday. AppFolio has a 12-month low of $142.56 and a 12-month high of $326.04. The stock has a market cap of $5.93 billion, a PE ratio of 39.96 and a beta of 0.79. The business has a 50 day moving average of $163.99 and a 200-day moving average of $174.94.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, April 23rd. The software maker reported $1.61 EPS for the quarter, beating the consensus estimate of $1.47 by $0.14. The company had revenue of $262.21 million for the quarter, compared to the consensus estimate of $258.13 million. AppFolio had a return on equity of 32.35% and a net margin of 15.27%.The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.21 earnings per share. Equities research analysts expect that AppFolio will post 5.04 earnings per share for the current 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.