AppFolio, Inc. (NASDAQ:APPF) Given Average Recommendation of “Buy” by Brokerages

Shares of AppFolio, Inc. (NASDAQ:APPF) have been assigned an average recommendation of “Buy” from the six analysts that are presently covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a buy rating. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $239.40.

Several equities analysts have recently commented on APPF shares. KeyCorp upped their price objective on shares of AppFolio from $254.00 to $264.00 and gave the company an “overweight” rating in a research note on Monday, March 18th. Stephens reaffirmed an “overweight” rating and set a $241.00 price objective on shares of AppFolio in a research note on Friday, January 26th. StockNews.com downgraded shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, December 21st. BTIG Research started coverage on shares of AppFolio in a research note on Friday, January 19th. They issued a “buy” rating and a $215.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price target on shares of AppFolio from $228.00 to $237.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th.

Insider Buying and Selling

In other AppFolio news, Director Timothy K. Bliss sold 10,000 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $227.24, for a total value of $2,272,400.00. Following the sale, the director now owns 51,070 shares in the company, valued at $11,605,146.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other AppFolio news, Director Timothy K. Bliss sold 10,000 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $227.24, for a total value of $2,272,400.00. Following the sale, the director now owns 51,070 shares in the company, valued at $11,605,146.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Blottnitz Andreas Von sold 4,500 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $226.56, for a total transaction of $1,019,520.00. Following the completion of the sale, the director now owns 5,449 shares in the company, valued at approximately $1,234,525.44. The disclosure for this sale can be found here. Insiders sold a total of 15,489 shares of company stock valued at $3,531,011 over the last three months. Corporate insiders own 9.15% of the company’s stock.

Institutional Investors Weigh In On AppFolio

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Verdence Capital Advisors LLC grew its holdings in AppFolio by 2.7% in the fourth quarter. Verdence Capital Advisors LLC now owns 2,114 shares of the software maker’s stock worth $366,000 after purchasing an additional 55 shares during the period. Arcadia Investment Management Corp MI grew its holdings in AppFolio by 70.4% in the third quarter. Arcadia Investment Management Corp MI now owns 138 shares of the software maker’s stock worth $25,000 after purchasing an additional 57 shares during the period. FMR LLC grew its holdings in shares of AppFolio by 10.3% during the third quarter. FMR LLC now owns 709 shares of the software maker’s stock valued at $130,000 after buying an additional 66 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of AppFolio by 0.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 10,531 shares of the software maker’s stock valued at $1,824,000 after buying an additional 75 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY grew its holdings in shares of AppFolio by 8.0% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 1,177 shares of the software maker’s stock valued at $124,000 after buying an additional 87 shares during the last quarter. Hedge funds and other institutional investors own 62.34% of the company’s stock.

AppFolio Trading Up 1.0 %

Shares of NASDAQ:APPF opened at $216.72 on Thursday. The company has a market cap of $7.77 billion, a price-to-earnings ratio of 7,226.41 and a beta of 0.80. The company has a 50-day moving average price of $231.83 and a 200-day moving average price of $203.65. AppFolio has a 12 month low of $123.36 and a 12 month high of $253.42.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Thursday, January 25th. The software maker reported $0.61 EPS for the quarter, beating the consensus estimate of $0.32 by $0.29. The firm had revenue of $171.83 million during the quarter, compared to the consensus estimate of $162.80 million. AppFolio had a net margin of 0.44% and a negative return on equity of 8.58%. As a group, research analysts forecast that AppFolio will post 2.66 EPS for the current fiscal 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.