AppFolio, Inc. (NASDAQ:APPF) Receives Average Rating of “Moderate Buy” from Brokerages

AppFolio, Inc. (NASDAQ:APPF) has earned a consensus recommendation of “Moderate Buy” from the twelve analysts that are covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $248.50.

Several equities research analysts have weighed in on the stock. Guggenheim started coverage on shares of AppFolio in a research report on Wednesday, July 22nd. They set a “buy” rating and a $232.00 price target for the company. KeyCorp boosted their price objective on shares of AppFolio from $255.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, September 17th. DA Davidson set a $240.00 price objective on shares of AppFolio in a research note on Monday, September 28th. Wall Street Zen cut AppFolio from a “buy” rating to a “hold” rating in a research note on Sunday, July 26th. Finally, Zacks Research downgraded AppFolio from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 23rd.

Insider Buying and Selling at AppFolio

In other AppFolio news, CFO Timothy Eaton sold 373 shares of AppFolio stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $202.61, for a total value of $75,573.53. Following the completion of the transaction, the chief financial officer directly owned 16,714 shares of the company’s stock, valued at approximately $3,386,423.54. The trade was a 2.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Maurice J. Duca sold 2,656 shares of the business’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $221.85, for a total value of $589,233.60. Following the completion of the transaction, the insider owned 8,000 shares of the company’s stock, valued at $1,774,800. This represents a 24.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 176,217 shares of company stock worth $34,157,323. 1.57% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Versant Capital Management Inc lifted its stake in AppFolio by 18.6% in the 3rd quarter. Versant Capital Management Inc now owns 536 shares of the software maker’s stock worth $107,000 after purchasing an additional 84 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of AppFolio by 91.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 9,182 shares of the software maker’s stock worth $1,472,000 after purchasing an additional 4,378 shares during the period. Sequoia Financial Advisors LLC purchased a new position in AppFolio during the second quarter worth $257,000. Integrated Wealth Concepts LLC bought a new position in AppFolio during the 2nd quarter valued at about $36,000. Finally, Arizona State Retirement System grew its stake in shares of AppFolio by 6.0% during the second quarter. Arizona State Retirement System now owns 6,379 shares of the software maker’s stock valued at $1,023,000 after buying an additional 359 shares during the last quarter. Institutional investors own 85.19% of the company’s stock.

AppFolio Price Performance

Shares of AppFolio stock opened at $202.97 on Monday. AppFolio has a one year low of $142.56 and a one year high of $265.02. The business’s 50 day simple moving average is $207.45 and its two-hundred day simple moving average is $178.18. The stock has a market capitalization of $7.19 billion, a P/E ratio of 46.34 and a beta of 0.89.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Thursday, July 23rd. The software maker reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.02. AppFolio had a return on equity of 32.42% and a net margin of 15.13%.The firm had revenue of $281.12 million during the quarter, compared to analyst estimates of $277.35 million. During the same quarter in the prior year, the firm posted $1.38 earnings per share. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. Sell-side analysts expect that AppFolio will post 5.17 earnings per share for the current fiscal year.

About AppFolio

AppFolio, Inc (NASDAQ:APPF) develops cloud-based software and technology solutions for the real estate industry. Its platform is designed primarily for property managers and real estate businesses, helping them manage operations, accounting, leasing, maintenance, communication, payments and other property-related workflows from a centralized system.

The company’s offerings include AppFolio Property Manager and related services for residential, commercial and community association properties.