AppFolio (NASDAQ:APPF) Given Buy Rating at DA Davidson

AppFolio (NASDAQ:APPF)‘s stock had its “buy” rating restated by investment analysts at DA Davidson in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $325.00 target price on the software maker’s stock. DA Davidson’s price target points to a potential upside of 44.71% from the stock’s previous close.

Several other brokerages have also recently issued reports on APPF. Keefe, Bruyette & Woods upgraded AppFolio from a “market perform” rating to an “outperform” rating and set a $311.00 price objective on the stock in a research note on Friday, October 24th. KeyCorp reduced their price target on shares of AppFolio from $285.00 to $270.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Piper Sandler raised shares of AppFolio from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $240.00 to $350.00 in a research note on Friday, August 1st. Finally, Weiss Ratings lowered AppFolio from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $310.20.

AppFolio Trading Down 5.7%

Shares of APPF stock opened at $224.59 on Wednesday. The stock has a market cap of $8.07 billion, a PE ratio of 40.32 and a beta of 0.83. AppFolio has a 12 month low of $190.24 and a 12 month high of $326.04. The company’s fifty day moving average price is $253.56 and its 200-day moving average price is $248.24.

AppFolio (NASDAQ:APPF) last announced its earnings results on Thursday, October 30th. The software maker reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.45 by ($0.14). AppFolio had a return on equity of 25.97% and a net margin of 22.48%.The company had revenue of $249.35 million for the quarter, compared to analysts’ expectations of $245.39 million. During the same period last year, the business earned $1.29 EPS. The company’s quarterly revenue was up 21.2% compared to the same quarter last year. AppFolio has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that AppFolio will post 3.96 earnings per share for the current fiscal year.

Insider Activity at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 4,000 shares of the stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $276.95, for a total value of $1,107,800.00. Following the sale, the chief executive officer owned 59,556 shares of the company’s stock, valued at $16,494,034.20. This trade represents a 6.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Janet Kerr sold 2,500 shares of the business’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $285.04, for a total value of $712,600.00. Following the transaction, the director directly owned 11,995 shares of the company’s stock, valued at approximately $3,419,054.80. This represents a 17.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 22,801 shares of company stock worth $6,312,246 over the last quarter. 4.68% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of APPF. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of AppFolio by 84.4% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 773,579 shares of the software maker’s stock valued at $170,110,000 after purchasing an additional 354,061 shares during the period. Principal Financial Group Inc. grew its position in shares of AppFolio by 40.1% during the third quarter. Principal Financial Group Inc. now owns 1,166,752 shares of the software maker’s stock worth $321,637,000 after acquiring an additional 333,861 shares during the last quarter. William Blair Investment Management LLC grew its position 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 worth $168,894,000 after acquiring an additional 310,834 shares during the last quarter. Hudson Way Capital Management LLC acquired a new position in shares of AppFolio in the 3rd quarter valued at $53,367,000. Finally, Jacobs Levy Equity Management Inc. raised its position in AppFolio by 4,272.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 172,972 shares of the software maker’s stock valued at $38,037,000 after purchasing an additional 169,016 shares during the last quarter. Institutional investors and hedge funds own 85.19% of the company’s stock.

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.