AppFolio (NASDAQ:APPF) Receives Overweight Rating from Piper Sandler Companies

Piper Sandler Companies restated their overweight rating on shares of AppFolio (NASDAQ:APPF) in a research note published on Friday, Stock Target Advisor reports. They currently have a $300.00 target price on the software maker’s stock.

APPF has been the subject of several other research reports. Piper Sandler reaffirmed an overweight rating and set a $295.00 price target on shares of AppFolio in a research note on Friday, July 12th. JPMorgan Chase & Co. lifted their target price on shares of AppFolio from $260.00 to $328.00 and gave the stock an overweight rating in a research report on Wednesday, July 17th. Stephens reiterated an overweight rating and issued a $241.00 price target on shares of AppFolio in a research report on Friday, April 26th. KeyCorp lifted their price objective on AppFolio from $264.00 to $275.00 and gave the stock an overweight rating in a research report on Friday, April 26th. Finally, Keefe, Bruyette & Woods upped their target price on AppFolio from $215.00 to $238.00 and gave the company a market perform rating in a research note on Friday, April 26th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $277.75.

AppFolio Trading Down 10.9 %

APPF stock opened at $230.95 on Friday. The firm has a 50 day moving average of $242.53 and a 200-day moving average of $230.78. The company has a market cap of $8.36 billion, a price-to-earnings ratio of 111.57 and a beta of 0.80. AppFolio has a 12-month low of $164.29 and a 12-month high of $274.56.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Thursday, April 25th. The software maker reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.09. The firm had revenue of $187.43 million during the quarter, compared to the consensus estimate of $173.66 million. AppFolio had a return on equity of 13.51% and a net margin of 11.38%. Sell-side analysts forecast that AppFolio will post 2.85 earnings per share for the current fiscal year.

Insider Transactions at AppFolio

In related news, Director Timothy K. Bliss sold 41,730 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $232.32, for a total transaction of $9,694,713.60. Following the transaction, the director now directly owns 58,270 shares in the company, valued at $13,537,286.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Alexander Wolf sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $250.26, for a total value of $2,502,600.00. Following the completion of the sale, the director now directly owns 182,584 shares in the company, valued at $45,693,471.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Timothy K. Bliss sold 41,730 shares of AppFolio stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $232.32, for a total transaction of $9,694,713.60. Following the completion of the transaction, the director now owns 58,270 shares in the company, valued at approximately $13,537,286.40. The disclosure for this sale can be found here. Insiders have sold 130,444 shares of company stock worth $31,124,559 over the last quarter. 9.15% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Legato Capital Management LLC increased its stake in AppFolio by 8.5% during the second quarter. Legato Capital Management LLC now owns 7,061 shares of the software maker’s stock worth $1,727,000 after acquiring an additional 553 shares during the last quarter. RiverPark Advisors LLC grew its holdings in shares of AppFolio by 29.8% during the 2nd quarter. RiverPark Advisors LLC now owns 867 shares of the software maker’s stock worth $212,000 after purchasing an additional 199 shares during the period. State of Michigan Retirement System increased its position in AppFolio by 4.1% during the 2nd quarter. State of Michigan Retirement System now owns 5,100 shares of the software maker’s stock worth $1,247,000 after purchasing an additional 200 shares in the last quarter. Bank of New York Mellon Corp increased its position in AppFolio by 13.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 241,801 shares of the software maker’s stock worth $59,137,000 after purchasing an additional 28,673 shares in the last quarter. Finally, Retirement Systems of Alabama raised its holdings in AppFolio by 1.0% in the second quarter. Retirement Systems of Alabama now owns 25,903 shares of the software maker’s stock valued at $6,335,000 after buying an additional 254 shares during the period. Institutional investors and hedge funds own 62.34% of the company’s stock.

AppFolio Company Profile

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.