Analysts Set AppFolio, Inc. (NASDAQ:APPF) Price Target at $261.75

AppFolio, Inc. (NASDAQ:APPF) has earned an average rating of “Moderate Buy” from the eight brokerages that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $261.75.

APPF has been the subject of a number of research reports. Keefe, Bruyette & Woods cut AppFolio from a “market perform” rating to an “underperform” rating and reduced their price objective for the company from $255.00 to $193.00 in a research report on Tuesday, October 15th. KeyCorp reduced their price objective on AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Piper Sandler reduced their price objective on AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Finally, StockNews.com lowered AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd.

Insider Transactions at AppFolio

In other news, major shareholder Maurice J. Duca sold 2,274 shares of AppFolio stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $233.01, for a total value of $529,864.74. Following the transaction, the insider now directly owns 19,122 shares in the company, valued at approximately $4,455,617.22. The trade was a 10.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William Shane Trigg sold 3,500 shares of AppFolio stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $229.85, for a total value of $804,475.00. Following the completion of the transaction, the chief executive officer now owns 74,327 shares in the company, valued at $17,084,060.95. The trade was a 4.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,897 shares of company stock worth $5,102,524. Company insiders own 5.24% of the company’s stock.

Hedge Funds Weigh In On AppFolio

Several institutional investors and hedge funds have recently added to or reduced their stakes in APPF. Squarepoint Ops LLC increased its stake in AppFolio by 188.2% during the second quarter. Squarepoint Ops LLC now owns 185,034 shares of the software maker’s stock valued at $45,254,000 after acquiring an additional 120,835 shares during the period. Westwind Capital increased its stake in AppFolio by 301.0% during the second quarter. Westwind Capital now owns 149,240 shares of the software maker’s stock valued at $3,650,000 after acquiring an additional 112,024 shares during the period. Los Angeles Capital Management LLC increased its stake in AppFolio by 516.6% during the second quarter. Los Angeles Capital Management LLC now owns 109,850 shares of the software maker’s stock valued at $26,866,000 after acquiring an additional 92,034 shares during the period. Vanguard Group Inc. increased its stake in AppFolio by 3.6% during the first quarter. Vanguard Group Inc. now owns 2,152,626 shares of the software maker’s stock valued at $531,139,000 after acquiring an additional 73,965 shares during the period. Finally, FMR LLC increased its stake in AppFolio by 998.0% during the third quarter. FMR LLC now owns 60,894 shares of the software maker’s stock valued at $14,334,000 after acquiring an additional 55,348 shares during the period. 62.34% of the stock is currently owned by institutional investors.

AppFolio Trading Up 2.4 %

APPF opened at $242.39 on Friday. The stock has a market cap of $8.81 billion, a price-to-earnings ratio of 67.52 and a beta of 0.83. AppFolio has a 1 year low of $164.29 and a 1 year high of $274.56. The stock has a fifty day moving average price of $222.87 and a 200 day moving average price of $230.82.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.26. The firm had revenue of $206.00 million during the quarter, compared to analysts’ expectations of $199.11 million. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The business’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.26 earnings per share. As a group, sell-side analysts forecast that AppFolio will post 3.23 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.