AppFolio’s (APPF) Overweight Rating Reiterated at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of AppFolio (NASDAQ:APPF) in a report published on Friday, Benzinga reports. They currently have a $295.00 price objective on the software maker’s stock.

Other analysts have also issued research reports about the stock. Keefe, Bruyette & Woods lifted their price objective on shares of AppFolio from $215.00 to $238.00 and gave the stock a market perform rating in a research report on Friday, April 26th. KeyCorp lifted their price objective on shares of AppFolio from $264.00 to $275.00 and gave the stock an overweight rating in a research report on Friday, April 26th. Finally, Stephens reaffirmed an overweight rating and issued a $241.00 price objective on shares of AppFolio in a research report on Friday, April 26th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $248.71.

AppFolio Stock Performance

AppFolio stock opened at $264.35 on Friday. AppFolio has a fifty-two week low of $164.29 and a fifty-two week high of $265.71. The stock has a market cap of $9.57 billion, a PE ratio of 127.71 and a beta of 0.80. The firm’s 50-day simple moving average is $239.83 and its 200 day simple moving average is $225.24.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, April 25th. The software maker reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.09. AppFolio had a net margin of 11.38% and a return on equity of 13.51%. The business had revenue of $187.43 million for the quarter, compared to analysts’ expectations of $173.66 million. As a group, analysts predict that AppFolio will post 2.85 EPS for the current fiscal year.

Insider Activity

In other news, Director Timothy K. Bliss sold 12,170 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $241.31, for a total value of $2,936,742.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Timothy K. Bliss sold 12,170 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $241.31, for a total value of $2,936,742.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Alexander Wolf sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $250.26, for a total transaction of $2,502,600.00. Following the sale, the director now directly owns 182,584 shares in the company, valued at approximately $45,693,471.84. The disclosure for this sale can be found here. Insiders have sold a total of 123,982 shares of company stock valued at $29,429,129 over the last quarter. Company insiders own 9.15% of the company’s stock.

Institutional Trading of AppFolio

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its stake in AppFolio by 497.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 43,552 shares of the software maker’s stock worth $7,545,000 after buying an additional 36,265 shares in the last quarter. Long Walk Management LP grew its stake in AppFolio by 62.7% in the 4th quarter. Long Walk Management LP now owns 122,000 shares of the software maker’s stock worth $21,135,000 after buying an additional 47,000 shares in the last quarter. Oberndorf William E purchased a new position in AppFolio in the 4th quarter worth approximately $3,020,000. WCM Investment Management LLC purchased a new stake in shares of AppFolio in the 4th quarter valued at $12,941,000. Finally, Nebula Research & Development LLC boosted its stake in shares of AppFolio by 554.5% in the 4th quarter. Nebula Research & Development LLC now owns 9,039 shares of the software maker’s stock valued at $1,566,000 after purchasing an additional 7,658 shares in the last quarter. Institutional investors own 62.34% 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.