William Blair Reiterates Outperform Rating for AppFolio (NASDAQ:APPF)

AppFolio (NASDAQ:APPF)‘s stock had its “outperform” rating restated by stock analysts at William Blair in a note issued to investors on Friday,RTT News reports.

A number of other analysts have also recently weighed in on APPF. KeyCorp cut AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price target on the stock. in a research report on Friday, January 10th. Keefe, Bruyette & Woods lowered AppFolio from a “market perform” rating to an “underperform” rating and cut their target price for the company from $255.00 to $193.00 in a research note on Tuesday, October 15th. Piper Sandler reissued a “neutral” rating and issued a $265.00 price target on shares of AppFolio in a report on Friday. Finally, Stephens reiterated an “overweight” rating and issued a $295.00 price objective on shares of AppFolio in a research report on Friday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, AppFolio currently has a consensus rating of “Hold” and a consensus price target of $276.29.

AppFolio Price Performance

Shares of AppFolio stock traded down $20.17 on Friday, hitting $233.42. The company had a trading volume of 419,800 shares, compared to its average volume of 253,133. AppFolio has a 52 week low of $189.01 and a 52 week high of $274.56. The business has a 50-day simple moving average of $253.99 and a 200-day simple moving average of $235.99. The company has a market cap of $8.48 billion, a PE ratio of 64.85 and a beta of 0.87.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, January 30th. The software maker reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.34). AppFolio had a return on equity of 30.64% and a net margin of 17.26%. On average, equities research analysts predict that AppFolio will post 3.2 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Scanlan Agnes Bundy sold 500 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $255.42, for a total transaction of $127,710.00. Following the completion of the sale, the director now directly owns 5,416 shares of the company’s stock, valued at approximately $1,383,354.72. This trade represents a 8.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William Shane Trigg sold 3,500 shares of the business’s stock in a transaction on 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 directly owns 74,327 shares in the company, valued at approximately $17,084,060.95. This represents a 4.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,606 shares of company stock worth $5,958,832 over the last three months. 5.24% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AppFolio

Hedge funds have recently made changes to their positions in the business. Blue Trust Inc. lifted its stake in AppFolio by 85.7% in the third quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock valued at $29,000 after purchasing an additional 54 shares during the last quarter. UMB Bank n.a. lifted its position in shares of AppFolio by 193.0% during the 4th quarter. UMB Bank n.a. now owns 167 shares of the software maker’s stock valued at $41,000 after buying an additional 110 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of AppFolio by 688.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock worth $52,000 after acquiring an additional 186 shares during the period. Quarry LP increased its holdings in AppFolio by 147.9% in the 2nd quarter. Quarry LP now owns 238 shares of the software maker’s stock worth $58,000 after acquiring an additional 142 shares during the last quarter. Finally, True Wealth Design LLC bought a new stake in AppFolio in the 3rd quarter valued at about $79,000. 85.19% of the stock is currently owned by 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.