DA Davidson Lowers AppFolio (NASDAQ:APPF) Price Target to $275.00

AppFolio (NASDAQ:APPF) had its target price cut by DA Davidson from $300.00 to $275.00 in a research report report published on Monday morning,Benzinga reports. They currently have a buy rating on the software maker’s stock.

A number of other brokerages have also commented on APPF. KeyCorp lowered shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price target on the stock. in a report on Friday, January 10th. William Blair reaffirmed an “outperform” rating on shares of AppFolio in a report on Friday, January 31st. Piper Sandler reissued a “neutral” rating and issued a $265.00 price target on shares of AppFolio in a research note on Friday, January 31st. Finally, Stephens reaffirmed an “overweight” rating and issued a $295.00 price objective on shares of AppFolio in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $272.71.

AppFolio Stock Up 1.5 %

Shares of APPF opened at $227.57 on Monday. The stock has a market cap of $8.28 billion, a PE ratio of 41.00 and a beta of 0.86. AppFolio has a 12-month low of $189.01 and a 12-month high of $274.56. The business has a 50-day simple moving average of $218.20 and a two-hundred day simple moving average of $231.57.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, January 30th. The software maker reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.34). AppFolio had a return on equity of 26.21% and a net margin of 25.69%. On average, equities research analysts expect that AppFolio will post 3.96 EPS for the current year.

Insider Activity at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 3,501 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $217.27, for a total value of $760,662.27. Following the transaction, the chief executive officer now owns 83,824 shares in the company, valued at approximately $18,212,440.48. This represents a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Matthew S. Mazza sold 838 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $255.30, for a total value of $213,941.40. Following the transaction, the insider now directly owns 22,701 shares in the company, valued at $5,795,565.30. The trade was a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.24% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AppFolio

Hedge funds and other institutional investors have recently made changes to their positions in the business. Stifel Financial Corp raised its stake in shares of AppFolio by 45.0% in the third quarter. Stifel Financial Corp now owns 1,853 shares of the software maker’s stock worth $436,000 after purchasing an additional 575 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in AppFolio by 5.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 8,824 shares of the software maker’s stock valued at $2,077,000 after buying an additional 442 shares during the last quarter. Barclays PLC boosted its holdings in AppFolio by 20.5% during the 3rd quarter. Barclays PLC now owns 9,888 shares of the software maker’s stock worth $2,327,000 after acquiring an additional 1,681 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of AppFolio by 8.6% in the 3rd quarter. Geode Capital Management LLC now owns 413,032 shares of the software maker’s stock worth $97,252,000 after acquiring an additional 32,743 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of AppFolio in the third quarter valued at about $687,000. 85.19% of the stock is owned by institutional investors.

AppFolio Company Profile

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.