AppFolio, Inc. (NASDAQ:APPF) Given Consensus Rating of “Moderate Buy” by Brokerages

AppFolio, Inc. (NASDAQ:APPF) has earned an average rating of “Moderate Buy” from the nine ratings firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $270.8333.

Several equities analysts have recently weighed in on the stock. KeyCorp reaffirmed an “overweight” rating on shares of AppFolio in a report on Monday, February 2nd. Keefe, Bruyette & Woods dropped their price target on shares of AppFolio from $311.00 to $290.00 and set an “outperform” rating on the stock in a research report on Friday, January 30th. Weiss Ratings downgraded shares of AppFolio from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, January 16th. UBS Group set a $260.00 target price on AppFolio and gave the company a “buy” rating in a research report on Friday, January 30th. Finally, Wall Street Zen upgraded AppFolio from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th.

AppFolio Price Performance

NASDAQ:APPF opened at $176.38 on Friday. The company’s fifty day moving average price is $212.92 and its 200-day moving average price is $241.68. AppFolio has a 1-year low of $166.36 and a 1-year high of $326.04. The firm has a market capitalization of $6.35 billion, a P/E ratio of 45.46 and a beta of 0.75.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, January 29th. The software maker reported $1.39 EPS for the quarter, beating the consensus estimate of $1.22 by $0.17. The company had revenue of $248.19 million for the quarter, compared to analyst estimates of $246.56 million. AppFolio had a net margin of 14.82% and a return on equity of 29.79%. The firm’s revenue was up 21.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.92 earnings per share. Equities analysts anticipate that AppFolio will post 3.96 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO William Shane Trigg sold 6,963 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $169.73, for a total transaction of $1,181,829.99. Following the completion of the transaction, the chief executive officer directly owned 52,920 shares of the company’s stock, valued at $8,982,111.60. This represents a 11.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Timothy Mathias Eaton sold 517 shares of the stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $228.34, for a total value of $118,051.78. Following the transaction, the chief financial officer owned 10,104 shares in the company, valued at $2,307,147.36. This trade represents a 4.87% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.68% of the stock is owned by insiders.

Institutional Trading of AppFolio

Institutional investors and hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. lifted its stake in AppFolio by 40.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,166,752 shares of the software maker’s stock valued at $321,637,000 after buying an additional 333,861 shares in the last quarter. William Blair Investment Management LLC raised its holdings in shares of AppFolio by 73.6% during the second quarter. William Blair Investment Management LLC now owns 733,428 shares of the software maker’s stock valued at $168,894,000 after acquiring an additional 310,834 shares during the last quarter. Hudson Way Capital Management LLC purchased a new position in shares of AppFolio in the third quarter valued at approximately $53,367,000. Greenstone Partners & Co. LLC acquired a new stake in shares of AppFolio in the fourth quarter worth approximately $43,647,000. Finally, Millennium Management LLC increased its position in shares of AppFolio by 158.6% during the fourth quarter. Millennium Management LLC now owns 281,495 shares of the software maker’s stock worth $65,490,000 after purchasing an additional 172,627 shares in the last quarter. Hedge funds and other institutional investors own 85.19% of the company’s stock.

AppFolio Company Profile

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.