AppFolio (NASDAQ:APPF) Downgraded to “Neutral” Rating by Piper Sandler

Piper Sandler downgraded shares of AppFolio (NASDAQ:APPF) from an overweight rating to a neutral rating in a research note published on Monday, MarketBeat.com reports. The brokerage currently has $265.00 price target on the software maker’s stock.

A number of other analysts have also weighed in on the company. KeyCorp lowered their target price on AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Keefe, Bruyette & Woods cut AppFolio from a “market perform” rating to an “underperform” rating and decreased their price objective for the stock from $255.00 to $193.00 in a research note on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $261.75.

AppFolio Trading Up 1.6 %

Shares of APPF stock opened at $253.59 on Monday. AppFolio has a twelve month low of $165.93 and a twelve month high of $274.56. The stock has a fifty day simple moving average of $245.57 and a two-hundred day simple moving average of $235.34. The stock has a market capitalization of $9.21 billion, a price-to-earnings ratio of 70.64 and a beta of 0.87.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.26. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The company had revenue of $206.00 million for the quarter, compared to analysts’ expectations of $199.11 million. During the same period in the prior year, the business earned $0.26 EPS. The firm’s quarterly revenue was up 24.5% on a year-over-year basis. Research analysts predict that AppFolio will post 3.23 EPS for the current fiscal year.

Insider Transactions at AppFolio

In other news, insider Matthew S. Mazza sold 5,090 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $236.24, for a total transaction of $1,202,461.60. Following the sale, the insider now directly owns 28,266 shares of the company’s stock, valued at $6,677,559.84. The trade was a 15.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William Shane Trigg sold 4,145 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $263.32, for a total transaction of $1,091,461.40. Following the sale, the chief executive officer now directly owns 73,682 shares in the company, valued at $19,401,944.24. This trade represents a 5.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,768 shares of company stock worth $5,744,891. Insiders own 5.24% of the company’s stock.

Institutional Investors Weigh In On AppFolio

A number of institutional investors and hedge funds have recently modified their holdings of APPF. Lord Abbett & CO. LLC increased its holdings in AppFolio by 82.2% in the 3rd quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker’s stock worth $108,116,000 after buying an additional 207,204 shares during the period. Squarepoint Ops LLC increased its stake in shares of AppFolio by 188.2% in the second quarter. Squarepoint Ops LLC now owns 185,034 shares of the software maker’s stock worth $45,254,000 after acquiring an additional 120,835 shares during the period. FMR LLC increased its stake in shares of AppFolio by 998.0% in the third quarter. FMR LLC now owns 60,894 shares of the software maker’s stock worth $14,334,000 after acquiring an additional 55,348 shares during the period. Franklin Resources Inc. raised its holdings in shares of AppFolio by 31.2% during the third quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker’s stock worth $51,800,000 after purchasing an additional 54,386 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in AppFolio during the second quarter valued at $12,993,000. 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.