AppFolio (NASDAQ:APPF) PT Raised to $300.00

AppFolio (NASDAQ:APPF) had its target price hoisted by analysts at DA Davidson from $285.00 to $300.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. DA Davidson’s price objective would indicate a potential upside of 25.15% from the company’s previous close.

Several other brokerages have also recently weighed in on APPF. Piper Sandler raised their price objective on AppFolio from $295.00 to $300.00 and gave the company an “overweight” rating in a research note on Friday. Piper Sandler Companies reiterated an “overweight” rating and issued a $300.00 price objective on shares of AppFolio in a research note on Friday. JPMorgan Chase & Co. boosted their price target on shares of AppFolio from $260.00 to $328.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods boosted their target price on shares of AppFolio from $215.00 to $238.00 and gave the company a “market perform” rating in a report on Friday, April 26th. Finally, KeyCorp lifted their price target on AppFolio from $264.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $274.63.

AppFolio Trading Down 7.5 %

AppFolio stock traded down $19.35 during mid-day trading on Friday, reaching $239.72. The company had a trading volume of 240,744 shares, compared to its average volume of 301,295. AppFolio has a fifty-two week low of $164.29 and a fifty-two week high of $274.56. The company has a market cap of $8.68 billion, a P/E ratio of 114.88 and a beta of 0.80. The business has a fifty day simple moving average of $242.72 and a 200 day simple moving average of $230.34.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, April 25th. The software maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.09. AppFolio had a return on equity of 13.51% and a net margin of 11.38%. The business had revenue of $187.43 million for the quarter, compared to analyst estimates of $173.66 million. Research analysts forecast that AppFolio will post 2.85 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Maurice J. Duca sold 2,100 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $231.20, for a total value of $485,520.00. Following the completion of the sale, the insider now directly owns 55,000 shares in the company, valued at approximately $12,716,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Maurice J. Duca sold 2,100 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $231.20, for a total transaction of $485,520.00. Following the sale, the insider now owns 55,000 shares in the company, valued at approximately $12,716,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Timothy K. Bliss sold 12,170 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $241.31, for a total value of $2,936,742.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 130,444 shares of company stock valued at $31,124,559. 9.15% of the stock is owned by insiders.

Institutional Investors Weigh In On AppFolio

A number of institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC increased its stake in AppFolio by 497.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 43,552 shares of the software maker’s stock worth $7,545,000 after buying an additional 36,265 shares during the period. Texas Permanent School Fund Corp purchased a new stake in AppFolio during the first quarter worth approximately $4,415,000. Long Walk Management LP boosted its holdings in AppFolio by 62.7% in the fourth quarter. Long Walk Management LP now owns 122,000 shares of the software maker’s stock valued at $21,135,000 after purchasing an additional 47,000 shares in the last quarter. Oberndorf William E purchased a new stake in shares of AppFolio during the 4th quarter worth approximately $3,020,000. Finally, WCM Investment Management LLC acquired a new position in AppFolio in the fourth quarter valued at $12,941,000. Institutional investors and hedge funds own 62.34% of the company’s stock.

AppFolio Company Profile

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.