AppFolio (NASDAQ:APPF) Upgraded at DA Davidson

AppFolio (NASDAQ:APPF - Get Free Report) was upgraded by analysts at DA Davidson to a "strong-buy" rating in a report issued on Tuesday,Zacks.com reports.

A number of other equities analysts have also weighed in on the company. Keefe, Bruyette & Woods reduced their price objective on AppFolio from $210.00 to $205.00 and set an "underweight" rating for the company in a research note on Friday, April 25th. Piper Sandler lifted their price target on AppFolio from $208.00 to $240.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, AppFolio currently has an average rating of "Moderate Buy" and a consensus target price of $261.33.

AppFolio Trading Up 1.3%

Shares of NASDAQ APPF opened at $255.49 on Tuesday. The stock has a market capitalization of $9.21 billion, a PE ratio of 47.67 and a beta of 0.88. The stock's fifty day simple moving average is $226.71 and its two-hundred day simple moving average is $225.53. AppFolio has a 12-month low of $189.01 and a 12-month high of $274.56.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The software maker reported $1.21 earnings per share for the quarter, missing analysts' consensus estimates of $1.23 by ($0.02). The business had revenue of $217.70 million during the quarter, compared to analyst estimates of $220.95 million. AppFolio had a return on equity of 25.83% and a net margin of 23.87%. The firm's revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.05 EPS. On average, equities analysts predict that AppFolio will post 3.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Timothy Mathias Eaton sold 1,057 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $221.13, for a total transaction of $233,734.41. Following the sale, the chief financial officer owned 7,176 shares of the company's stock, valued at approximately $1,586,828.88. This represents a 12.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy K. Bliss acquired 7,000 shares of the business's stock in a transaction dated Monday, June 9th. The shares were bought at an average cost of $217.95 per share, for a total transaction of $1,525,650.00. Following the transaction, the director directly owned 22,000 shares of the company's stock, valued at approximately $4,794,900. This trade represents a 46.67% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 18,500 shares of company stock valued at $4,024,220 and have sold 11,639 shares valued at $2,547,802. 4.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On AppFolio

Large investors have recently bought and sold shares of the stock. FMR LLC increased its holdings in AppFolio by 881.2% in the fourth quarter. FMR LLC now owns 597,485 shares of the software maker's stock valued at $147,411,000 after buying an additional 536,591 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC purchased a new position in AppFolio in the fourth quarter valued at about $103,503,000. Norges Bank purchased a new position in AppFolio in the fourth quarter valued at about $68,037,000. Principal Financial Group Inc. increased its holdings in AppFolio by 121.2% in the first quarter. Principal Financial Group Inc. now owns 401,888 shares of the software maker's stock valued at $88,375,000 after buying an additional 220,239 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in AppFolio by 43.2% in the fourth quarter. AQR Capital Management LLC now owns 655,625 shares of the software maker's stock valued at $161,756,000 after buying an additional 197,700 shares in the last quarter. Institutional investors and hedge funds own 85.19% 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.

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