AppFolio (NASDAQ:APPF) Raised to Buy at StockNews.com

AppFolio (NASDAQ:APPF) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

Several other research firms also recently weighed in on APPF. JPMorgan Chase & Co. upped their price target on shares of AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Stephens reaffirmed an “overweight” rating and set a $241.00 price objective on shares of AppFolio in a research report on Friday, April 26th. Piper Sandler increased their target price on shares of AppFolio from $295.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday. Piper Sandler Companies restated an “overweight” rating and issued a $300.00 price objective on shares of AppFolio in a report on Friday. Finally, KeyCorp increased their target price on shares of AppFolio from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $277.75.

AppFolio Trading Down 10.9 %

Shares of AppFolio stock traded down $28.12 during trading hours on Friday, reaching $230.95. The stock had a trading volume of 718,985 shares, compared to its average volume of 304,635. The stock’s 50 day moving average is $242.53 and its 200 day moving average is $230.78. The firm has a market capitalization of $8.36 billion, a PE ratio of 111.57 and a beta of 0.80. AppFolio has a twelve month low of $164.29 and a twelve month high of $274.56.

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

Insider Transactions at AppFolio

In related news, major shareholder Maurice J. Duca sold 4,462 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $261.19, for a total value of $1,165,429.78. Following the completion of the transaction, the insider now owns 49,784 shares in the company, valued at approximately $13,003,082.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Matthew S. Mazza sold 2,131 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $249.46, for a total transaction of $531,599.26. Following the completion of the transaction, the insider now owns 43,680 shares in the company, valued at approximately $10,896,412.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Maurice J. Duca sold 4,462 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $261.19, for a total transaction of $1,165,429.78. Following the transaction, the insider now owns 49,784 shares of the company’s stock, valued at approximately $13,003,082.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 130,444 shares of company stock worth $31,124,559. Insiders own 9.15% of the company’s stock.

Institutional Trading of AppFolio

A number of hedge funds have recently made changes to their positions in APPF. GAMMA Investing LLC lifted its stake in AppFolio by 589.5% in the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock valued at $32,000 after acquiring an additional 112 shares during the last quarter. CWM LLC lifted its stake in AppFolio by 238.6% in the second quarter. CWM LLC now owns 149 shares of the software maker’s stock valued at $36,000 after acquiring an additional 105 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in AppFolio by 291.3% in the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock valued at $44,000 after acquiring an additional 134 shares during the last quarter. USA Financial Formulas bought a new position in shares of AppFolio in the fourth quarter valued at approximately $59,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of AppFolio in the fourth quarter valued at approximately $64,000. 62.34% of the stock is owned by hedge funds and other institutional investors.

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.