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

Shares of AppFolio, Inc. (NASDAQ:APPF) have been assigned a consensus rating of “Buy” from the eight ratings firms that are covering the firm, Marketbeat Ratings reports. Eight analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have covered the stock in the last year is $306.00.

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

Insiders Place Their Bets

In other AppFolio news, CEO William Shane Trigg sold 3,947 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $240.45, for a total value of $949,056.15. Following the transaction, the chief executive officer directly owned 51,530 shares of the company’s stock, valued at $12,390,388.50. This trade represents a 7.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Timothy Mathias Eaton sold 517 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $228.34, for a total transaction of $118,051.78. Following the completion of the transaction, the chief financial officer owned 10,104 shares of the company’s stock, valued at $2,307,147.36. The trade was a 4.87% 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 worth $2,097,550 over the last ninety days. Corporate insiders own 4.68% of the company’s stock.

Institutional Investors Weigh In On AppFolio

Large investors have recently modified their holdings of the business. United Services Automobile Association acquired a new stake in AppFolio during the 1st quarter worth approximately $311,000. Northern Trust Corp lifted its holdings in shares of AppFolio by 0.8% during the first quarter. Northern Trust Corp now owns 193,780 shares of the software maker’s stock worth $42,612,000 after purchasing an additional 1,493 shares during the period. HighTower Advisors LLC grew its stake in shares of AppFolio by 94.1% in the first quarter. HighTower Advisors LLC now owns 2,882 shares of the software maker’s stock worth $634,000 after purchasing an additional 1,397 shares during the last quarter. Highland Capital Management LLC acquired a new stake in AppFolio in the third quarter valued at $1,435,000. Finally, Park Avenue Securities LLC bought a new position in AppFolio during the 2nd quarter worth $288,000. Institutional investors and hedge funds own 85.19% of the company’s stock.

AppFolio Trading Down 1.0%

NASDAQ:APPF opened at $230.37 on Friday. The stock has a 50 day simple moving average of $237.26 and a 200 day simple moving average of $251.44. The stock has a market cap of $8.27 billion, a P/E ratio of 41.36 and a beta of 0.78. AppFolio has a 1-year low of $190.24 and a 1-year high of $326.04.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings data 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). The firm had revenue of $249.35 million for the quarter, compared to the consensus estimate of $245.39 million. AppFolio had a return on equity of 25.97% and a net margin of 22.48%.The firm’s quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.29 EPS. As a group, sell-side analysts forecast that AppFolio will post 3.96 EPS 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.