AppFolio (NASDAQ:APPF) Given “Outperform” Rating at William Blair

William Blair reiterated their outperform rating on shares of AppFolio (NASDAQ:APPF) in a research report released on Friday,RTT News reports.

APPF has been the subject of a number of other reports. KeyCorp cut shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price objective for the company. in a research note on Friday, January 10th. Keefe, Bruyette & Woods downgraded AppFolio from a “market perform” rating to an “underperform” rating and dropped their price target for the stock from $255.00 to $193.00 in a research report on Tuesday, October 15th. Piper Sandler restated a “neutral” rating and issued a $265.00 price objective on shares of AppFolio in a research report on Friday. Finally, Stephens reaffirmed an “overweight” rating and set a $295.00 price objective on shares of AppFolio in a research note on Friday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, AppFolio has a consensus rating of “Hold” and a consensus target price of $276.29.

AppFolio Stock Performance

AppFolio stock opened at $233.91 on Friday. AppFolio has a fifty-two week low of $189.01 and a fifty-two week high of $274.56. The firm has a market capitalization of $8.50 billion, a price-to-earnings ratio of 65.16 and a beta of 0.87. The stock’s fifty day moving average is $253.82 and its two-hundred day moving average is $235.80.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Thursday, January 30th. The software maker reported $0.58 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%. As a group, sell-side analysts forecast that AppFolio will post 3.2 EPS for the current fiscal year.

Insider Activity

In other AppFolio news, insider Matthew S. Mazza sold 838 shares of AppFolio stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $255.30, for a total value of $213,941.40. Following the transaction, the insider now owns 22,701 shares in the company, valued at $5,795,565.30. This trade represents a 3.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Scanlan Agnes Bundy sold 500 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $255.42, for a total transaction of $127,710.00. Following the sale, the director now directly owns 5,416 shares of the company’s stock, valued at $1,383,354.72. This represents a 8.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,606 shares of company stock valued at $5,958,832 over the last quarter. Company insiders own 5.24% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in AppFolio by 18.5% during the second quarter. Dimensional Fund Advisors LP now owns 84,151 shares of the software maker’s stock worth $20,583,000 after acquiring an additional 13,110 shares during the last quarter. Creative Planning grew its holdings in shares of AppFolio by 68.0% during the 2nd quarter. Creative Planning now owns 2,142 shares of the software maker’s stock worth $524,000 after purchasing an additional 867 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in 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 purchasing an additional 186 shares in the last quarter. Quarry LP raised its holdings in AppFolio by 147.9% in the second quarter. Quarry LP now owns 238 shares of the software maker’s stock valued at $58,000 after buying an additional 142 shares during the period. Finally, Truist Financial Corp lifted its position in AppFolio by 12.8% during the second quarter. Truist Financial Corp now owns 2,467 shares of the software maker’s stock valued at $603,000 after buying an additional 280 shares in the last quarter. Institutional investors and hedge funds own 85.19% 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.