AppFolio (NASDAQ:APPF) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of AppFolio (NASDAQ:APPF) from a hold rating to a buy rating in a research report report published on Friday.

A number of other equities research analysts also recently issued reports on APPF. DA Davidson upped their price objective on shares of AppFolio from $285.00 to $300.00 and gave the stock a buy rating in a research report on Friday. Keefe, Bruyette & Woods upped their price objective on shares of AppFolio from $215.00 to $238.00 and gave the stock a market perform rating in a research report on Friday, April 26th. Piper Sandler upped their price objective on shares of AppFolio from $295.00 to $300.00 and gave the stock an overweight rating in a research report on Friday. Piper Sandler Companies reiterated an overweight rating and issued a $300.00 target price on shares of AppFolio in a research note on Friday. Finally, JPMorgan Chase & Co. boosted their target price on shares of AppFolio from $260.00 to $328.00 and gave the company an overweight rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $277.75.

AppFolio Price Performance

NASDAQ:APPF opened at $229.02 on Friday. AppFolio has a one year low of $164.29 and a one year high of $274.56. The firm has a 50-day moving average of $242.25 and a 200-day moving average of $231.91. The company has a market cap of $8.29 billion, a PE ratio of 110.64 and a beta of 0.80.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Thursday, July 25th. The software maker reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.16. AppFolio had a net margin of 17.32% and a return on equity of 27.39%. The business had revenue of $197.38 million during the quarter, compared to the consensus estimate of $190.57 million. During the same period in the prior year, the firm posted ($0.53) EPS. The firm’s quarterly revenue was up 34.2% compared to the same quarter last year. On average, equities research analysts expect that AppFolio will post 2.9 earnings per share for the current fiscal year.

Insider Activity at AppFolio

In related news, Director Alexander Wolf sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $250.26, for a total transaction of $2,502,600.00. Following the sale, the director now directly owns 182,584 shares in the company, valued at approximately $45,693,471.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Alexander Wolf sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $250.26, for a total transaction of $2,502,600.00. Following the sale, the director now directly owns 182,584 shares in the company, valued at approximately $45,693,471.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Maurice J. Duca sold 4,462 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $261.19, for a total transaction of $1,165,429.78. Following the sale, the insider now owns 49,784 shares in the company, valued at $13,003,082.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 130,444 shares of company stock worth $31,124,559. 9.15% of the stock is owned by corporate insiders.

Institutional Trading of AppFolio

Institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in AppFolio by 589.5% in the 2nd quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after purchasing an additional 112 shares in the last quarter. CWM LLC lifted its stake in AppFolio by 238.6% in the 2nd quarter. CWM LLC now owns 149 shares of the software maker’s stock worth $36,000 after purchasing an additional 105 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in AppFolio by 291.3% in the 1st quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock worth $44,000 after purchasing an additional 134 shares in the last quarter. USA Financial Formulas purchased a new stake in AppFolio in the 4th quarter worth approximately $59,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in AppFolio in the 4th quarter worth approximately $64,000. 62.34% of the stock is currently owned by hedge funds and other institutional investors.

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.