DA Davidson Cuts AppFolio (NASDAQ:APPF) Price Target to $325.00

AppFolio (NASDAQ:APPF) had its target price decreased by DA Davidson from $375.00 to $325.00 in a research note issued to investors on Friday, Marketbeat Ratings reports. DA Davidson currently has a buy rating on the software maker’s stock.

Other equities analysts have also issued reports about the company. Keefe, Bruyette & Woods raised AppFolio from a “market perform” rating to an “outperform” rating and set a $311.00 price target for the company in a research note on Friday, October 24th. Piper Sandler raised AppFolio from a “neutral” rating to an “overweight” rating and increased their price target for the company from $240.00 to $350.00 in a research note on Friday, August 1st. KeyCorp decreased their price target on AppFolio from $285.00 to $270.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of AppFolio in a research note on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $310.20.

AppFolio Price Performance

APPF opened at $254.43 on Friday. AppFolio has a 12 month low of $190.24 and a 12 month high of $326.04. The stock has a market cap of $9.12 billion, a P/E ratio of 45.68 and a beta of 0.83. The stock’s 50 day moving average price is $260.29 and its 200 day moving average price is $245.08.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, October 30th. The software maker reported $1.31 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.14). AppFolio had a net margin of 22.48% and a return on equity of 25.97%. The business had revenue of $249.35 million during the quarter, compared to analyst estimates of $245.39 million. During the same quarter in the prior year, the business earned $1.29 earnings per share. The firm’s revenue was up 21.2% compared to the same quarter last year. AppFolio has set its FY 2025 guidance at EPS. Equities analysts anticipate that AppFolio will post 3.96 EPS for the current year.

Insider Buying and Selling at AppFolio

In other news, CEO William Shane Trigg sold 4,000 shares of the firm’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $276.95, for a total transaction of $1,107,800.00. Following the completion of the sale, the chief executive officer directly owned 59,556 shares of the company’s stock, valued at $16,494,034.20. This trade represents a 6.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Janet Kerr sold 2,500 shares of the firm’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $285.04, for a total value of $712,600.00. Following the sale, the director directly owned 11,995 shares of the company’s stock, valued at approximately $3,419,054.80. This represents a 17.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 44,603 shares of company stock worth $12,583,233. 4.68% of the stock is owned by insiders.

Institutional Trading of AppFolio

Several hedge funds and other institutional investors have recently modified their holdings of the business. ProShare Advisors LLC boosted its position in shares of AppFolio by 3.6% in the second quarter. ProShare Advisors LLC now owns 1,078 shares of the software maker’s stock worth $248,000 after buying an additional 37 shares during the period. State of New Jersey Common Pension Fund D boosted its position in shares of AppFolio by 0.5% in the second quarter. State of New Jersey Common Pension Fund D now owns 9,041 shares of the software maker’s stock worth $2,082,000 after buying an additional 44 shares during the period. Amalgamated Bank boosted its position in shares of AppFolio by 0.4% in the third quarter. Amalgamated Bank now owns 11,068 shares of the software maker’s stock worth $3,051,000 after buying an additional 46 shares during the period. Woodline Partners LP boosted its position in shares of AppFolio by 2.9% in the first quarter. Woodline Partners LP now owns 1,754 shares of the software maker’s stock worth $386,000 after buying an additional 50 shares during the period. Finally, Somerset Trust Co boosted its position in shares of AppFolio by 6.7% in the second quarter. Somerset Trust Co now owns 1,105 shares of the software maker’s stock worth $254,000 after buying an additional 69 shares during the period. Institutional investors and hedge funds own 85.19% of the company’s stock.

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.