AppFolio, Inc. (NASDAQ:APPF) Receives $306.00 Consensus PT from Analysts

Shares of AppFolio, Inc. (NASDAQ:APPF) have earned an average recommendation of “Buy” from the eight ratings firms that are currently covering the stock, Marketbeat.com reports. Eight analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $306.00.

Several brokerages have issued reports on APPF. DA Davidson reissued a “buy” rating and issued a $325.00 price objective on shares of AppFolio in a research note on Wednesday, November 19th. Weiss Ratings reiterated a “buy (b-)” rating on shares of AppFolio in a research note on Monday, December 22nd. KeyCorp reissued an “overweight” rating on shares of AppFolio in a report on Tuesday, December 16th. Keefe, Bruyette & Woods upgraded shares of AppFolio from a “market perform” rating to an “outperform” rating and set a $311.00 price objective for the company in a research report on Friday, October 24th. Finally, UBS Group initiated coverage on AppFolio in a research report on Friday, December 12th. They set a “buy” rating and a $285.00 target price on the stock.

Insider Buying and Selling

In other AppFolio news, CEO William Shane Trigg sold 3,947 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $240.45, for a total transaction of $949,056.15. Following the sale, the chief executive officer directly owned 51,530 shares in the company, valued at approximately $12,390,388.50. The trade was a 7.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Evan Pickering sold 334 shares of the company’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $243.67, for a total transaction of $81,385.78. Following the transaction, the general counsel directly owned 2,969 shares in the company, valued at approximately $723,456.23. This trade represents a 10.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 8,745 shares of company stock valued at $2,097,550 over the last quarter. Company insiders own 4.68% of the company’s stock.

Institutional Trading of AppFolio

A number of institutional investors have recently added to or reduced their stakes in APPF. ProShare Advisors LLC grew its holdings in shares of AppFolio by 3.6% in the 2nd quarter. ProShare Advisors LLC now owns 1,078 shares of the software maker’s stock worth $248,000 after acquiring an additional 37 shares during the period. Truist Financial Corp boosted its position in AppFolio by 1.1% during the third quarter. Truist Financial Corp now owns 3,928 shares of the software maker’s stock worth $1,083,000 after purchasing an additional 43 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings in AppFolio by 0.5% in the second quarter. State of New Jersey Common Pension Fund D now owns 9,041 shares of the software maker’s stock valued at $2,082,000 after purchasing an additional 44 shares during the last quarter. Amalgamated Bank grew its holdings in AppFolio by 0.4% in the third quarter. Amalgamated Bank now owns 11,068 shares of the software maker’s stock valued at $3,051,000 after purchasing an additional 46 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC increased its position in shares of AppFolio by 3.1% in the third quarter. Linden Thomas Advisory Services LLC now owns 1,515 shares of the software maker’s stock valued at $418,000 after buying an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 85.19% of the company’s stock.

AppFolio Trading Down 0.3%

AppFolio stock opened at $236.60 on Friday. The stock has a 50 day moving average of $237.85 and a two-hundred day moving average of $251.62. AppFolio has a twelve month low of $190.24 and a twelve month high of $326.04. The stock has a market capitalization of $8.50 billion, a price-to-earnings ratio of 42.48 and a beta of 0.80.

AppFolio (NASDAQ:APPF) last released its earnings results on Thursday, October 30th. The software maker reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.14). AppFolio had a net margin of 22.48% and a return on equity of 25.97%. The company had revenue of $249.35 million during the quarter, compared to analyst estimates of $245.39 million. During the same period in the previous year, the firm posted $1.29 EPS. The company’s revenue for the quarter was up 21.2% on a year-over-year basis. Equities analysts predict that AppFolio will post 3.96 earnings per share for the current 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.