AppFolio (NASDAQ:APPF) Earns Outperform Rating from William Blair

AppFolio (NASDAQ:APPF)‘s stock had its “outperform” rating restated by equities research analysts at William Blair in a research note issued to investors on Friday,RTT News reports.

Several other equities research analysts have also recently issued reports on the stock. Piper Sandler restated a “neutral” rating and issued a $265.00 target price on shares of AppFolio in a report on Friday. Stephens restated an “overweight” rating and issued a $295.00 price target on shares of AppFolio in a research report on Friday. Keefe, Bruyette & Woods cut shares of AppFolio from a “market perform” rating to an “underperform” rating and cut their price objective for the company from $255.00 to $193.00 in a research report on Tuesday, October 15th. Finally, KeyCorp downgraded shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 target price on the stock. in a research note on Friday, January 10th. One equities research 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 company currently has an average rating of “Hold” and a consensus price target of $276.29.

AppFolio Stock Performance

AppFolio stock traded down $20.17 during mid-day trading on Friday, reaching $233.42. The company’s stock had a trading volume of 419,800 shares, compared to its average volume of 253,133. The firm’s fifty day moving average price is $253.99 and its two-hundred day moving average price is $235.99. The company has a market capitalization of $8.48 billion, a P/E ratio of 64.85 and a beta of 0.87. AppFolio has a 12-month low of $189.01 and a 12-month high of $274.56.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data 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 30.64% and a net margin of 17.26%. On average, research analysts predict that AppFolio will post 3.2 EPS for the current fiscal year.

Insider Activity at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 3,500 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $229.85, for a total value of $804,475.00. Following the sale, the chief executive officer now directly owns 74,327 shares in the company, valued at $17,084,060.95. This trade represents a 4.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Scanlan Agnes Bundy sold 500 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $255.42, for a total value of $127,710.00. Following the completion of the transaction, the director now directly owns 5,416 shares of the company’s stock, valued at $1,383,354.72. This trade represents a 8.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,606 shares of company stock valued at $5,958,832. 5.24% of the stock is owned by company insiders.

Institutional Trading of AppFolio

A number of large investors have recently bought and sold shares of APPF. Lord Abbett & CO. LLC increased its position in AppFolio by 82.2% during the 3rd quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker’s stock worth $108,116,000 after purchasing an additional 207,204 shares during the period. Deepwater Asset Management LLC acquired a new position in AppFolio during the fourth quarter worth $15,483,000. FMR LLC increased its position in shares of AppFolio by 998.0% in the third quarter. FMR LLC now owns 60,894 shares of the software maker’s stock valued at $14,334,000 after buying an additional 55,348 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of AppFolio by 31.2% in the 3rd quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker’s stock worth $51,800,000 after buying an additional 54,386 shares in the last quarter. Finally, State Street Corp grew its stake in 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 acquiring an additional 49,238 shares during the last quarter. 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.