AppFolio’s (APPF) “Neutral” Rating Reaffirmed at Piper Sandler

AppFolio (NASDAQ:APPF)‘s stock had its “neutral” rating restated by Piper Sandler in a report issued on Friday,Benzinga reports. They presently have a $265.00 target price on the software maker’s stock. Piper Sandler’s price objective would indicate a potential upside of 4.50% from the stock’s previous close.

Several other research firms have also weighed in on APPF. Keefe, Bruyette & Woods lowered shares of AppFolio from a “market perform” rating to an “underperform” rating and reduced their price objective for the company from $255.00 to $193.00 in a research report on Tuesday, October 15th. KeyCorp downgraded AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 target price on the stock. in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $268.57.

AppFolio Trading Up 1.4 %

APPF opened at $253.58 on Friday. The company has a fifty day simple moving average of $253.99 and a 200 day simple moving average of $235.99. The firm has a market cap of $9.21 billion, a price-to-earnings ratio of 70.64 and a beta of 0.87. AppFolio has a twelve month low of $189.01 and a twelve month high of $274.56.

AppFolio (NASDAQ:APPF) last released its earnings results on Thursday, January 30th. The software maker reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.34). AppFolio had a net margin of 17.26% and a return on equity of 30.64%. On average, analysts forecast that AppFolio will post 3.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AppFolio news, CEO William Shane Trigg sold 4,145 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $263.32, for a total transaction of $1,091,461.40. Following the transaction, the chief executive officer now owns 73,682 shares of the company’s stock, valued at $19,401,944.24. The trade was a 5.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Matthew S. Mazza sold 838 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $255.30, for a total transaction of $213,941.40. Following the completion of the sale, the insider now directly owns 22,701 shares in the company, valued at approximately $5,795,565.30. The trade was a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,606 shares of company stock valued at $5,958,832. Company insiders own 5.24% of the company’s stock.

Institutional Investors Weigh In On AppFolio

Hedge funds have recently bought and sold shares of the stock. State Street Corp boosted its stake in shares of AppFolio by 8.2% in the third quarter. State Street Corp now owns 653,136 shares of the software maker’s stock valued at $153,748,000 after buying an additional 49,238 shares during the period. Lord Abbett & CO. LLC lifted its stake in AppFolio by 82.2% in the 3rd quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker’s stock valued at $108,116,000 after purchasing an additional 207,204 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of AppFolio by 8.6% during the 3rd quarter. Geode Capital Management LLC now owns 413,032 shares of the software maker’s stock valued at $97,252,000 after acquiring an additional 32,743 shares in the last quarter. DF Dent & Co. Inc. grew its holdings in shares of AppFolio by 10.1% during the third quarter. DF Dent & Co. Inc. now owns 351,691 shares of the software maker’s stock worth $82,788,000 after purchasing an additional 32,181 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in AppFolio by 31.2% in the 3rd quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker’s stock valued at $51,800,000 after acquiring an additional 54,386 shares during the period. 85.19% of the stock is currently 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.