Brokerages Set AppFolio, Inc. (NASDAQ:APPF) Target Price at $306.00

Shares of AppFolio, Inc. (NASDAQ:APPF) have been given an average recommendation of “Moderate Buy” by the nine research firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $306.00.

A number of analysts recently commented on the stock. Weiss Ratings downgraded shares of AppFolio from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, January 16th. DA Davidson reaffirmed a “buy” rating and set a $325.00 price objective on shares of AppFolio in a report on Wednesday, November 19th. KeyCorp restated an “overweight” rating on shares of AppFolio in a research report on Tuesday, December 16th. Keefe, Bruyette & Woods raised shares of 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. Finally, Wells Fargo & Company reaffirmed a “buy” rating on shares of AppFolio in a report on Thursday, January 15th.

Insider Buying and Selling at AppFolio

In other AppFolio news, General Counsel Evan Pickering sold 334 shares of the firm’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 completion of the transaction, the general counsel owned 2,969 shares of the company’s stock, valued at approximately $723,456.23. This trade represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William Shane Trigg sold 3,947 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $240.45, for a total value of $949,056.15. Following the completion of the sale, the chief executive officer owned 51,530 shares in the company, valued at $12,390,388.50. This represents a 7.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 8,745 shares of company stock worth $2,097,550. 4.68% of the stock is owned by insiders.

Institutional Trading of AppFolio

A number of hedge funds have recently bought and sold shares of the company. Root Financial Partners LLC purchased a new position in shares of AppFolio during the 3rd quarter worth $31,000. TD Private Client Wealth LLC increased its stake in shares of AppFolio by 2,116.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 133 shares of the software maker’s stock valued at $37,000 after acquiring an additional 127 shares during the last quarter. First Horizon Corp purchased a new position in shares of AppFolio during the 3rd quarter worth about $39,000. Hantz Financial Services Inc. grew its holdings in AppFolio by 373.3% in the third quarter. Hantz Financial Services Inc. now owns 142 shares of the software maker’s stock valued at $39,000 after purchasing an additional 112 shares during the period. Finally, Huntington National Bank raised its stake in AppFolio by 58.7% during the second quarter. Huntington National Bank now owns 200 shares of the software maker’s stock worth $46,000 after purchasing an additional 74 shares during the period. Institutional investors and hedge funds own 85.19% of the company’s stock.

AppFolio Trading Down 1.4%

NASDAQ APPF opened at $219.43 on Wednesday. The stock has a market capitalization of $7.88 billion, a price-to-earnings ratio of 39.39 and a beta of 0.78. The business’s 50 day moving average is $228.85 and its two-hundred day moving average is $250.65. AppFolio has a 12-month low of $190.24 and a 12-month high of $326.04.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, October 30th. The software maker reported $1.31 earnings per share 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 business had revenue of $249.35 million during the quarter, compared to analysts’ expectations of $245.39 million. During the same quarter last year, the firm earned $1.29 earnings per share. The firm’s quarterly revenue was up 21.2% compared to the same quarter last year. Equities analysts forecast that AppFolio will post 3.96 earnings per share for the current fiscal year.

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.