AppFolio, Inc. (NASDAQ:APPF) Receives $261.75 Average Price Target from Analysts

Shares of AppFolio, Inc. (NASDAQ:APPF) have been given an average recommendation of “Moderate Buy” by the eight research firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $261.75.

APPF has been the topic of several analyst reports. Piper Sandler dropped their price target on shares of AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. StockNews.com cut shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. KeyCorp dropped their price target on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Finally, Keefe, Bruyette & Woods cut shares of AppFolio from a “market perform” rating to an “underperform” rating and lowered their target price for the company from $255.00 to $193.00 in a research note on Tuesday, October 15th.

Insider Transactions at AppFolio

In other news, major shareholder Maurice J. Duca sold 2,577 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $250.75, for a total value of $646,182.75. Following the sale, the insider now directly owns 2,875 shares in the company, valued at $720,906.25. The trade was a 47.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Matthew S. Mazza sold 5,090 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $236.24, for a total transaction of $1,202,461.60. Following the completion of the sale, the insider now owns 28,266 shares in the company, valued at approximately $6,677,559.84. This trade represents a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,675 shares of company stock worth $6,280,868 in the last three months. Insiders own 5.24% of the company’s stock.

Institutional Trading of AppFolio

A number of large investors have recently made changes to their positions in APPF. American International Group Inc. boosted its stake in shares of AppFolio by 280.7% during the 1st quarter. American International Group Inc. now owns 36,367 shares of the software maker’s stock worth $8,973,000 after purchasing an additional 26,815 shares during the period. Lazard Asset Management LLC boosted its stake in shares of AppFolio by 750.5% during the 1st quarter. Lazard Asset Management LLC now owns 9,211 shares of the software maker’s stock worth $2,271,000 after purchasing an additional 8,128 shares during the period. CANADA LIFE ASSURANCE Co boosted its stake in shares of AppFolio by 11.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 41,488 shares of the software maker’s stock worth $10,243,000 after purchasing an additional 4,131 shares during the period. Summit Global Investments purchased a new position in shares of AppFolio during the 3rd quarter worth about $759,000. Finally, Vanguard Group Inc. boosted its stake in shares of AppFolio by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 2,152,626 shares of the software maker’s stock worth $531,139,000 after purchasing an additional 73,965 shares during the period. 62.34% of the stock is currently owned by institutional investors.

AppFolio Trading Up 1.7 %

Shares of APPF stock opened at $255.40 on Friday. AppFolio has a 12-month low of $164.29 and a 12-month high of $274.56. The firm’s 50 day moving average is $223.34 and its 200 day moving average is $230.86. The stock has a market capitalization of $9.28 billion, a P/E ratio of 71.14 and a beta of 0.83.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.26. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The company had revenue of $206.00 million for the quarter, compared to analysts’ expectations of $199.11 million. During the same quarter last year, the company posted $0.26 earnings per share. The firm’s quarterly revenue was up 24.5% on a year-over-year basis. As a group, equities analysts predict that AppFolio will post 3.23 earnings per share for the current 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.