AppFolio (NASDAQ:APPF) Shares Up 4.1% – Still a Buy?

AppFolio, Inc. (NASDAQ:APPF) shares shot up 4.1% on Tuesday . The company traded as high as $228.71 and last traded at $229.64. 162,849 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 266,255 shares. The stock had previously closed at $220.60.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on APPF shares. Piper Sandler restated a “neutral” rating and issued a $265.00 price target on shares of AppFolio in a research report on Friday, January 31st. William Blair reissued an “outperform” rating on shares of AppFolio in a report on Friday, January 31st. KeyCorp cut shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price objective for the company. in a research report on Friday, January 10th. Finally, Stephens reiterated an “overweight” rating and issued a $295.00 target price on shares of AppFolio in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $276.29.

AppFolio Price Performance

The company’s 50 day moving average price is $226.53 and its 200 day moving average price is $232.46. The firm has a market cap of $8.20 billion, a PE ratio of 40.57 and a beta of 0.89.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, January 30th. The software maker reported $0.58 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.34). AppFolio had a return on equity of 26.21% and a net margin of 25.69%. Sell-side analysts expect that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Insider Transactions at AppFolio

In related news, CEO William Shane Trigg sold 3,501 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $217.27, for a total transaction of $760,662.27. Following the completion of the transaction, the chief executive officer now owns 83,824 shares in the company, valued at approximately $18,212,440.48. The trade was a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Alexander Wolf purchased 9,678 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was acquired at an average price of $214.81 per share, for a total transaction of $2,078,931.18. Following the completion of the purchase, the director now owns 3,226 shares of the company’s stock, valued at $692,977.06. This represents a -150.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 5.24% of the company’s stock.

Institutional Investors Weigh In On AppFolio

Several institutional investors have recently added to or reduced their stakes in APPF. Vanguard Group Inc. boosted its stake in AppFolio by 3.8% in the fourth quarter. Vanguard Group Inc. now owns 2,495,527 shares of the software maker’s stock valued at $615,696,000 after acquiring an additional 91,174 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of AppFolio by 43.2% in the 4th quarter. AQR Capital Management LLC now owns 655,625 shares of the software maker’s stock valued at $161,756,000 after purchasing an additional 197,700 shares during the last quarter. State Street Corp boosted its position in shares of AppFolio by 8.2% in the 3rd quarter. State Street Corp now owns 653,136 shares of the software maker’s stock valued at $153,748,000 after purchasing an additional 49,238 shares during the period. FMR LLC grew its stake in AppFolio by 881.2% during the 4th quarter. FMR LLC now owns 597,485 shares of the software maker’s stock worth $147,411,000 after buying an additional 536,591 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC increased its position in AppFolio by 4.7% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 572,917 shares of the software maker’s stock worth $141,350,000 after buying an additional 25,566 shares during the period. Hedge funds and other institutional investors 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.