Brokerages Set AppFolio, Inc. (NASDAQ:APPF) Target Price at $261.75

Shares of AppFolio, Inc. (NASDAQ:APPF) have been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $261.75.

Several equities analysts have recently weighed in on the company. KeyCorp decreased their target price on AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Keefe, Bruyette & Woods lowered shares of AppFolio from a “market perform” rating to an “underperform” rating and lowered their price target for the stock from $255.00 to $193.00 in a research report on Tuesday, October 15th. Finally, Piper Sandler lowered their target price on AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a report on Friday, October 25th.

AppFolio Stock Performance

NASDAQ:APPF opened at $251.79 on Tuesday. The firm’s fifty day moving average is $234.08 and its two-hundred day moving average is $233.67. The firm has a market cap of $9.15 billion, a price-to-earnings ratio of 70.14 and a beta of 0.86. AppFolio has a one year low of $164.29 and a one year high of $274.56.

AppFolio (NASDAQ:APPF) last posted 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 business had revenue of $206.00 million for the quarter, compared to analyst estimates of $199.11 million. During the same period in the prior year, the company posted $0.26 EPS. The company’s revenue for the quarter was up 24.5% on a year-over-year basis. As a group, equities research analysts predict that AppFolio will post 3.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Maurice J. Duca sold 1,842 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $235.71, for a total transaction of $434,177.82. Following the completion of the transaction, the insider now directly owns 12,874 shares of the company’s stock, valued at approximately $3,034,530.54. The trade was a 12.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Matthew S. Mazza sold 700 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $255.50, for a total transaction of $178,850.00. Following the completion of the sale, the insider now directly owns 27,566 shares in the company, valued at approximately $7,043,113. This trade represents a 2.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,906 shares of company stock worth $6,485,922 over the last 90 days. Corporate insiders own 5.24% of the company’s stock.

Institutional Investors Weigh In On AppFolio

Large investors have recently modified their holdings of the company. Blue Trust Inc. boosted its holdings in AppFolio by 85.7% in the third quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock valued at $29,000 after purchasing an additional 54 shares in the last quarter. CWM LLC grew its position in shares of AppFolio by 238.6% in the 2nd quarter. CWM LLC now owns 149 shares of the software maker’s stock valued at $36,000 after buying an additional 105 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in AppFolio by 688.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock worth $52,000 after acquiring an additional 186 shares in the last quarter. Quarry LP lifted its position in AppFolio by 147.9% in the second quarter. Quarry LP now owns 238 shares of the software maker’s stock valued at $58,000 after acquiring an additional 142 shares during the last quarter. Finally, True Wealth Design LLC acquired a new position in AppFolio in the third quarter valued at $79,000. 85.19% of the stock is owned by hedge funds and other institutional investors.

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.