AppFolio (NASDAQ:APPF) Given Overweight Rating at Piper Sandler

AppFolio (NASDAQ:APPF)‘s stock had its “overweight” rating reaffirmed by research analysts at Piper Sandler in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $295.00 target price on the software maker’s stock. Piper Sandler’s price target suggests a potential upside of 11.60% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. KeyCorp increased their price target on shares of AppFolio from $264.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Keefe, Bruyette & Woods upped their price target on shares of AppFolio from $215.00 to $238.00 and gave the company a “market perform” rating in a report on Friday, April 26th. Finally, Stephens reissued an “overweight” rating and issued a $241.00 price objective on shares of AppFolio in a research note on Friday, April 26th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, AppFolio currently has a consensus rating of “Moderate Buy” and an average target price of $248.71.

AppFolio Stock Performance

NASDAQ:APPF traded up $12.63 during trading hours on Friday, reaching $264.34. The stock had a trading volume of 362,522 shares, compared to its average volume of 298,869. The stock has a market capitalization of $9.57 billion, a PE ratio of 127.57 and a beta of 0.80. AppFolio has a 52 week low of $164.29 and a 52 week high of $265.71. The company has a 50 day moving average price of $239.33 and a two-hundred day moving average price of $223.94.

AppFolio (NASDAQ:APPF) last announced 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 company had revenue of $187.43 million for the quarter, compared to analysts’ expectations of $173.66 million. Equities research analysts predict that AppFolio will post 2.85 EPS for the current year.

Insider Activity

In other AppFolio news, Director Timothy K. Bliss sold 12,170 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $241.31, for a total transaction of $2,936,742.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Timothy K. Bliss sold 12,170 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $241.31, for a total transaction of $2,936,742.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Maurice J. Duca sold 876 shares of the business’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $252.82, for a total value of $221,470.32. Following the transaction, the insider now owns 7,100 shares in the company, valued at $1,795,022. The disclosure for this sale can be found here. Over the last quarter, insiders sold 123,982 shares of company stock valued at $29,429,129. Corporate insiders own 9.15% of the company’s stock.

Institutional Trading of AppFolio

A number of institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC raised its holdings in shares of AppFolio by 497.7% in the fourth 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 during the last quarter. Long Walk Management LP lifted its position in AppFolio by 62.7% during the 4th quarter. Long Walk Management LP now owns 122,000 shares of the software maker’s stock worth $21,135,000 after acquiring an additional 47,000 shares during the period. Oberndorf William E acquired a new stake in AppFolio during the 4th quarter worth about $3,020,000. WCM Investment Management LLC purchased a new stake in AppFolio during the 4th quarter valued at about $12,941,000. Finally, Nebula Research & Development LLC increased its holdings in shares of AppFolio by 554.5% in the fourth 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 during the period. 62.34% 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.