AppFolio (NASDAQ:APPF) Given New $265.00 Price Target at Piper Sandler

AppFolio (NASDAQ:APPF) had its price target cut by equities researchers at Piper Sandler from $300.00 to $265.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the software maker’s stock. Piper Sandler’s price target suggests a potential upside of 37.97% from the stock’s current price.

A number of other brokerages have also weighed in on APPF. Piper Sandler Companies reiterated an “overweight” rating and set a $300.00 target price on shares of AppFolio in a research note on Friday, July 26th. KeyCorp increased their price objective on AppFolio from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. boosted their target price on shares of AppFolio from $260.00 to $328.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. DA Davidson raised their price target on shares of AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Keefe, Bruyette & Woods downgraded 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 report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, AppFolio has a consensus rating of “Moderate Buy” and a consensus target price of $267.75.

AppFolio Trading Down 1.8 %

APPF opened at $192.07 on Friday. The stock’s fifty day simple moving average is $223.73 and its 200 day simple moving average is $231.12. AppFolio has a 1-year low of $164.29 and a 1-year high of $274.56. The stock has a market cap of $6.96 billion, a PE ratio of 92.79 and a beta of 0.81.

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 analysts’ consensus estimates of $1.03 by $0.26. The company had revenue of $206.00 million during the quarter, compared to analysts’ expectations of $199.11 million. AppFolio had a net margin of 17.32% and a return on equity of 27.39%. AppFolio’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.26 EPS. Equities analysts forecast that AppFolio will post 3.04 earnings per share for the current year.

Insider Buying and Selling at AppFolio

In other news, major shareholder Maurice J. Duca sold 1,296 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $236.77, for a total transaction of $306,853.92. Following the completion of the sale, the insider now owns 9,383 shares of the company’s stock, valued at approximately $2,221,612.91. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO William Shane Trigg sold 3,501 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $218.98, for a total transaction of $766,648.98. Following the completion of the sale, the chief executive officer now directly owns 81,699 shares in the company, valued at $17,890,447.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Maurice J. Duca sold 1,296 shares of AppFolio stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $236.77, for a total value of $306,853.92. Following the completion of the transaction, the insider now owns 9,383 shares in the company, valued at approximately $2,221,612.91. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,852 shares of company stock valued at $4,100,322 in the last ninety days. 9.15% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AppFolio

A number of hedge funds have recently made changes to their positions in APPF. Brighton Jones LLC raised its position in AppFolio by 0.9% in the second quarter. Brighton Jones LLC now owns 5,805 shares of the software maker’s stock valued at $1,420,000 after purchasing an additional 49 shares during the last quarter. Blue Trust Inc. raised its holdings in AppFolio by 85.7% in the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock valued at $29,000 after buying an additional 54 shares during the last quarter. ProShare Advisors LLC boosted its position in AppFolio by 2.9% during the 2nd quarter. ProShare Advisors LLC now owns 3,630 shares of the software maker’s stock worth $888,000 after buying an additional 102 shares during the period. CWM LLC increased its position in 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 acquiring an additional 105 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of AppFolio by 589.5% during 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. 62.34% of the stock is currently owned by institutional investors and hedge funds.

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.