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

Shares of AppFolio, Inc. (NASDAQ:APPF) have earned an average recommendation of “Moderate Buy” from the ten analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $252.2857.

APPF has been the subject of a number of recent analyst reports. Piper Sandler lowered their target price on shares of AppFolio from $245.00 to $210.00 and set an “overweight” rating for the company in a research note on Friday, April 24th. Weiss Ratings cut shares of AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. Benchmark lifted their target price on shares of AppFolio from $222.00 to $226.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. UBS Group set a $210.00 target price on shares of AppFolio 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 Sunday, March 15th.

Insider Buying and Selling at AppFolio

In other AppFolio news, CFO Timothy Mathias Eaton sold 2,585 shares of AppFolio stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $160.07, for a total transaction of $413,780.95. Following the completion of the sale, the chief financial officer directly owned 18,036 shares in the company, valued at approximately $2,887,022.52. The trade was a 12.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Evan Pickering sold 660 shares of AppFolio stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $155.25, for a total transaction of $102,465.00. Following the sale, the general counsel owned 6,555 shares of the company’s stock, valued at approximately $1,017,663.75. The trade was a 9.15% 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. In the last 90 days, insiders have sold 8,957 shares of company stock valued at $1,399,501. 1.57% of the stock is currently owned by insiders.

Institutional Trading of AppFolio

Institutional investors and hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC lifted its stake in AppFolio by 101.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock valued at $26,000 after acquiring an additional 56 shares during the period. Optiver Holding B.V. lifted its stake in AppFolio by 827.8% during the 1st quarter. Optiver Holding B.V. now owns 167 shares of the software maker’s stock valued at $26,000 after acquiring an additional 149 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in AppFolio by 48.8% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker’s stock valued at $53,000 after acquiring an additional 63 shares during the period. Advisory Services Network LLC acquired a new stake in AppFolio during the 3rd quarter valued at approximately $55,000. Finally, Employees Retirement System of Texas acquired a new position in shares of AppFolio in the 3rd quarter valued at $58,000. 85.19% of the stock is currently owned by institutional investors and hedge funds.

AppFolio Stock Up 1.5%

APPF stock opened at $148.81 on Friday. The firm has a 50 day moving average of $160.59 and a 200 day moving average of $183.35. The stock has a market capitalization of $5.26 billion, a PE ratio of 35.43 and a beta of 0.80. AppFolio has a 52 week low of $142.56 and a 52 week high of $326.04.

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

AppFolio Company Profile

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.