AppFolio, Inc. (NASDAQ:APPF) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• AppFolio, Inc. (NASDAQ:APPF) has a consensus rating of "Moderate Buy" from six brokerages, with an average price target of $253.60 over the next year.
• Recent insider trading includes CEO William Shane Trigg selling 5,900 shares for approximately $1.25 million, while Director Robert Donald Casey III purchased 4,000 shares valued at about $870,920.
• Institutional investors hold 85.19% of AppFolio's stock, with notable increases in ownership from firms like Kayne Anderson Rudnick and FMR LLC in recent quarters.

Shares of AppFolio, Inc. (NASDAQ:APPF - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the six brokerages that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $288.00.

Several equities analysts have recently commented on APPF shares. Keefe, Bruyette & Woods upgraded AppFolio from an "underperform" rating to a "market perform" rating and raised their price target for the company from $205.00 to $267.00 in a research note on Thursday. Piper Sandler raised AppFolio from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $240.00 to $350.00 in a research report on Friday. Finally, DA Davidson raised AppFolio to a "strong-buy" rating in a research report on Tuesday, July 22nd.

AppFolio Stock Performance

APPF stock traded up $51.77 during mid-day trading on Wednesday, reaching $319.15. 1,105,060 shares of the stock traded hands, compared to its average volume of 306,713. The business has a 50-day moving average price of $233.70 and a two-hundred day moving average price of $226.33. AppFolio has a one year low of $189.01 and a one year high of $320.36. The stock has a market capitalization of $11.50 billion, a PE ratio of 59.54 and a beta of 0.88.

AppFolio (NASDAQ:APPF - Get Free Report) last released its earnings results on Thursday, July 31st. The software maker reported $1.38 earnings per share for the quarter, topping analysts' consensus estimates of $1.27 by $0.11. The business had revenue of $235.58 million for the quarter, compared to analyst estimates of $230.10 million. AppFolio had a return on equity of 25.83% and a net margin of 23.87%. The business's revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.12 earnings per share. On average, equities analysts expect that AppFolio will post 3.96 earnings per share for the current fiscal year.

Insider Activity at AppFolio

In other AppFolio news, insider Elizabeth Erin Barat sold 4,682 shares of AppFolio stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $227.79, for a total value of $1,066,512.78. Following the completion of the transaction, the insider owned 17,926 shares of the company's stock, valued at approximately $4,083,363.54. The trade was a 20.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Timothy Mathias Eaton sold 1,057 shares of AppFolio stock in a transaction on Friday, May 16th. The shares were sold at an average price of $221.13, for a total transaction of $233,734.41. Following the completion of the transaction, the chief financial officer directly owned 7,176 shares of the company's stock, valued at $1,586,828.88. The trade was a 12.84% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders bought 18,500 shares of company stock valued at $4,024,220 and sold 11,639 shares valued at $2,547,802. Insiders own 4.68% of the company's stock.

Hedge Funds Weigh In On AppFolio

A number of large investors have recently added to or reduced their stakes in the stock. State of New Jersey Common Pension Fund D raised its position in AppFolio by 0.5% during the second quarter. State of New Jersey Common Pension Fund D now owns 9,041 shares of the software maker's stock worth $2,082,000 after acquiring an additional 44 shares during the period. Woodline Partners LP raised its position in AppFolio by 2.9% during the first quarter. Woodline Partners LP now owns 1,754 shares of the software maker's stock worth $386,000 after acquiring an additional 50 shares during the period. Treasurer of the State of North Carolina lifted its holdings in AppFolio by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 9,960 shares of the software maker's stock valued at $2,457,000 after purchasing an additional 60 shares in the last quarter. Fifth Third Bancorp lifted its holdings in AppFolio by 53.0% in the 1st quarter. Fifth Third Bancorp now owns 179 shares of the software maker's stock valued at $39,000 after purchasing an additional 62 shares in the last quarter. Finally, Tidal Investments LLC lifted its holdings in AppFolio by 4.7% in the 4th quarter. Tidal Investments LLC now owns 1,492 shares of the software maker's stock valued at $368,000 after purchasing an additional 67 shares in the last quarter. 85.19% of the stock is currently owned by institutional investors and hedge funds.

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.