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

Shares of AppFolio, Inc. (NASDAQ:APPF) have received a consensus recommendation of “Buy” from the twelve research firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $243.50.

A number of analysts have recently issued reports on APPF shares. KeyCorp reissued an “overweight” rating on shares of AppFolio in a research note on Monday, July 6th. Guggenheim assumed coverage on shares of AppFolio in a report on Wednesday, July 22nd. They issued a “buy” rating and a $232.00 target price for the company. Zacks Research upgraded AppFolio from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 28th. Wall Street Zen downgraded shares of AppFolio from a “buy” rating to a “hold” rating in a report on Sunday, July 26th. Finally, Weiss Ratings upgraded shares of AppFolio from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th.

Insider Activity at AppFolio

In other news, major shareholder Maurice Duca sold 7,200 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $180.32, for a total transaction of $1,298,304.00. Following the completion of the transaction, the insider owned 42,400 shares in the company, valued at $7,645,568. This trade represents a 14.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 179,612 shares of company stock worth $34,697,503. 1.57% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AppFolio

Institutional investors have recently bought and sold shares of the business. Woodline Partners LP increased its holdings in shares of AppFolio by 2.9% in the 1st quarter. Woodline Partners LP now owns 1,754 shares of the software maker’s stock worth $386,000 after buying an additional 50 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of AppFolio by 101.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock valued at $26,000 after acquiring an additional 56 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its position in AppFolio by 4.8% in the third quarter. Mercer Global Advisors Inc. ADV now owns 1,263 shares of the software maker’s stock worth $348,000 after acquiring an additional 58 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in AppFolio by 48.8% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker’s stock worth $53,000 after acquiring an additional 63 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC increased its stake in AppFolio by 1.3% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 5,162 shares of the software maker’s stock worth $1,201,000 after acquiring an additional 64 shares during the last quarter. Institutional investors own 85.19% of the company’s stock.

AppFolio Price Performance

APPF stock opened at $214.28 on Thursday. The business’s 50-day moving average price is $193.72 and its 200-day moving average price is $174.11. The stock has a market cap of $7.59 billion, a P/E ratio of 48.92 and a beta of 0.85. AppFolio has a twelve month low of $142.56 and a twelve month high of $288.73.

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

About AppFolio

AppFolio, Inc is a Santa Barbara–based provider of cloud-based software solutions for the property management and legal industries. Founded in 2006 by former software executives, the company went public on the NASDAQ under the symbol APPF in 2015. Its original offering, AppFolio Property Manager, automates accounting, marketing, leasing, and maintenance functions for residential, commercial, student housing, and community association managers.

In 2019, AppFolio expanded its portfolio with the acquisition of MyCase, a web-based legal practice management platform for small to mid-size law firms.