Weiss Ratings Reiterates "Buy (B-)" Rating for AppFolio (NASDAQ:APPF)

Key Points

• Weiss Ratings has reiterated a "Buy (B-)" rating for AppFolio (NASDAQ:APPF), with seven investment analysts currently rating the stock as a buy and a consensus price target of $318.20.
• AppFolio's recent quarterly earnings surpassed expectations, reporting $1.38 EPS against a forecast of $1.27, with a revenue increase of 19.4% year-over-year.
• Significant insider selling occurred recently, with major shareholder Maurice J. Duca selling 3,100 shares for approximately $996,278, representing a 6.81% reduction in his stake.

AppFolio (NASDAQ:APPF - Get Free Report)'s stock had its "buy (b-)" rating reiterated by stock analysts at Weiss Ratings in a report issued on Friday,Weiss Ratings reports.

APPF has been the subject of a number of other reports. KeyCorp raised shares of AppFolio from a "sector weight" rating to an "overweight" rating and set a $285.00 price target for the company in a research report on Friday, October 17th. DA Davidson reaffirmed a "buy" rating and set a $350.00 price target on shares of AppFolio in a research report on Friday, August 1st. Piper Sandler raised shares of AppFolio from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $240.00 to $350.00 in a research report on Friday, August 1st. Finally, 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 research report on Friday. Seven investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $318.20.

AppFolio Stock Performance

AppFolio stock traded up $3.13 during trading on Friday, reaching $242.68. 215,456 shares of the company's stock were exchanged, compared to its average volume of 303,229. The company's 50-day moving average is $263.41 and its two-hundred day moving average is $243.64. AppFolio has a 52-week low of $190.24 and a 52-week high of $326.04. The firm has a market cap of $8.70 billion, a price-to-earnings ratio of 43.81 and a beta of 0.83.

AppFolio (NASDAQ:APPF - Get Free Report) last announced its quarterly 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. AppFolio had a net margin of 23.54% and a return on equity of 26.32%. The firm had revenue of $235.58 million during the quarter, compared to analysts' expectations of $230.10 million. During the same period in the prior year, the company earned $1.12 EPS. The firm's revenue was up 19.4% on a year-over-year basis. AppFolio has set its FY 2025 guidance at EPS. Analysts anticipate that AppFolio will post 3.96 EPS for the current year.

Insider Buying and Selling at AppFolio

In other AppFolio news, major shareholder Maurice J. Duca sold 3,100 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $321.38, for a total value of $996,278.00. Following the completion of the transaction, the insider directly owned 42,400 shares of the company's stock, valued at $13,626,512. This represents a 6.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Klaus Schauser sold 3,000 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $295.14, for a total transaction of $885,420.00. Following the completion of the sale, the insider owned 300,000 shares in the company, valued at approximately $88,542,000. This trade represents a 0.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,803 shares of company stock valued at $16,938,949 in the last ninety days. Insiders own 4.68% of the company's stock.

Institutional Investors Weigh In On AppFolio

Institutional investors have recently modified their holdings of the stock. New York State Teachers Retirement System raised its stake in shares of AppFolio by 80.8% in the 1st quarter. New York State Teachers Retirement System now owns 8,773 shares of the software maker's stock valued at $1,929,000 after purchasing an additional 3,922 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of AppFolio in the 1st quarter valued at about $420,000. Janney Montgomery Scott LLC acquired a new stake in shares of AppFolio in the 1st quarter valued at about $305,000. Oppenheimer Asset Management Inc. raised its stake in shares of AppFolio by 34.8% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 5,049 shares of the software maker's stock valued at $1,110,000 after purchasing an additional 1,304 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of AppFolio by 0.8% in the 1st quarter. Northern Trust Corp now owns 193,780 shares of the software maker's stock valued at $42,612,000 after purchasing an additional 1,493 shares in the last quarter. Institutional investors and hedge funds own 85.19% of the company's stock.

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.

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