Analysts Set AppFolio, Inc. (NASDAQ:APPF) Target Price at $261.75

AppFolio, Inc. (NASDAQ:APPF) has received an average rating of “Moderate Buy” from the eight ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $261.75.

APPF has been the topic of several analyst reports. KeyCorp lowered their target price on AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Piper Sandler dropped their price objective on shares of AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Finally, Keefe, Bruyette & Woods downgraded shares of AppFolio from a “market perform” rating to an “underperform” rating and lowered their target price for the company from $255.00 to $193.00 in a report on Tuesday, October 15th.

Insider Buying and Selling

In other AppFolio news, insider Matthew S. Mazza sold 5,090 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $236.24, for a total transaction of $1,202,461.60. Following the sale, the insider now directly owns 28,266 shares in the company, valued at approximately $6,677,559.84. The trade was a 15.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William Shane Trigg sold 4,145 shares of the firm’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $263.32, for a total value of $1,091,461.40. Following the completion of the transaction, the chief executive officer now owns 73,682 shares of the company’s stock, valued at approximately $19,401,944.24. This represents a 5.33 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,906 shares of company stock valued at $6,485,922. Corporate insiders own 5.24% of the company’s stock.

Institutional Trading of AppFolio

Several large investors have recently modified their holdings of the business. Blue Trust Inc. raised its position in shares of AppFolio by 85.7% during the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock worth $29,000 after purchasing an additional 54 shares during the last quarter. CWM LLC raised its holdings in shares of AppFolio by 238.6% in the second quarter. CWM LLC now owns 149 shares of the software maker’s stock worth $36,000 after acquiring an additional 105 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of AppFolio by 688.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock valued at $52,000 after acquiring an additional 186 shares in the last quarter. Quarry LP boosted its stake in shares of AppFolio by 147.9% during the second quarter. Quarry LP now owns 238 shares of the software maker’s stock valued at $58,000 after acquiring an additional 142 shares during the last quarter. Finally, True Wealth Design LLC purchased a new stake in AppFolio during the 3rd quarter worth about $79,000. 85.19% of the stock is currently owned by institutional investors and hedge funds.

AppFolio Price Performance

Shares of AppFolio stock opened at $251.79 on Tuesday. The firm’s fifty day simple moving average is $234.08 and its 200-day simple moving average is $233.67. AppFolio has a 12 month low of $164.29 and a 12 month high of $274.56. The stock has a market capitalization of $9.15 billion, a price-to-earnings ratio of 70.14 and a beta of 0.86.

AppFolio (NASDAQ:APPF) last announced its earnings results on Thursday, October 24th. The software maker reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.26. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The business had revenue of $206.00 million during the quarter, compared to analysts’ expectations of $199.11 million. During the same period in the prior year, the company earned $0.26 earnings per share. The business’s revenue was up 24.5% compared to the same quarter last year. Analysts anticipate that AppFolio will post 3.23 earnings per share for the current year.

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.