AppFolio (NASDAQ:APPF) Given New $240.00 Price Target at Piper Sandler

AppFolio (NASDAQ:APPF - Get Free Report) had its price objective upped by equities researchers at Piper Sandler from $208.00 to $240.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the software maker's stock. Piper Sandler's price objective suggests a potential downside of 4.36% from the company's previous close.

Other equities analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods cut their price target on shares of AppFolio from $210.00 to $205.00 and set an "underweight" rating for the company in a report on Friday, April 25th. DA Davidson upgraded shares of AppFolio to a "strong-buy" rating in a report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $261.33.

AppFolio Stock Performance

AppFolio stock traded down $3.02 during trading hours on Thursday, reaching $250.95. 180,701 shares of the stock were exchanged, compared to its average volume of 267,761. The stock has a market cap of $9.04 billion, a P/E ratio of 46.82 and a beta of 0.88. AppFolio has a 52-week low of $189.01 and a 52-week high of $274.56. The firm's 50 day moving average is $224.58 and its 200 day moving average is $225.60.

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

Insider Activity

In other AppFolio news, Director Robert Donald Casey III bought 4,000 shares of the company's stock in a transaction on Friday, June 6th. The stock was purchased at an average cost of $217.73 per share, for a total transaction of $870,920.00. Following the acquisition, the director owned 27,856 shares of the company's stock, valued at $6,065,086.88. The trade was a 16.77% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William Shane Trigg sold 5,900 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $211.45, for a total transaction of $1,247,555.00. Following the sale, the chief executive officer directly owned 70,647 shares in the company, valued at $14,938,308.15. This represents a 7.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders bought 18,500 shares of company stock worth $4,024,220 and sold 11,639 shares worth $2,547,802. Insiders own 4.68% of the company's stock.

Institutional Investors Weigh In On AppFolio

Several hedge funds have recently modified their holdings of APPF. HighTower Advisors LLC boosted its stake in shares of AppFolio by 60.4% during the 4th quarter. HighTower Advisors LLC now owns 1,485 shares of the software maker's stock worth $366,000 after purchasing an additional 559 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of AppFolio by 1,485.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 222 shares of the software maker's stock worth $55,000 after purchasing an additional 208 shares during the last quarter. Swiss National Bank boosted its stake in shares of AppFolio by 3.6% during the 4th quarter. Swiss National Bank now owns 43,000 shares of the software maker's stock worth $10,609,000 after purchasing an additional 1,500 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of AppFolio by 14.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 5,550 shares of the software maker's stock worth $1,369,000 after purchasing an additional 703 shares during the last quarter. Finally, Natixis Advisors LLC boosted its stake in shares of AppFolio by 11.3% during the 4th quarter. Natixis Advisors LLC now owns 24,598 shares of the software maker's stock worth $6,069,000 after purchasing an additional 2,504 shares during the last quarter. 85.19% of the stock is owned by institutional investors and hedge funds.

About AppFolio

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.