AppFolio (NASDAQ:APPF) Rating Lowered to “Neutral” at Piper Sandler

AppFolio (NASDAQ:APPF) was downgraded by equities researchers at Piper Sandler from an “overweight” rating to a “neutral” rating in a research report issued on Monday, MarketBeat reports. They presently have a $265.00 target price on the software maker’s stock. Piper Sandler’s target price indicates a potential upside of 6.19% from the stock’s current price.

Several other analysts have also recently commented on the stock. Keefe, Bruyette & Woods cut shares of AppFolio from a “market perform” rating to an “underperform” rating and decreased their price target for the stock from $255.00 to $193.00 in a research note on Tuesday, October 15th. KeyCorp decreased their target price on AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $261.75.

AppFolio Trading Down 0.6 %

NASDAQ:APPF opened at $249.56 on Monday. The stock has a 50-day moving average price of $244.85 and a 200 day moving average price of $235.21. The stock has a market capitalization of $9.07 billion, a P/E ratio of 69.52 and a beta of 0.87. AppFolio has a 12-month low of $165.13 and a 12-month high of $274.56.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.26. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The firm had revenue of $206.00 million for the quarter, compared to analysts’ expectations of $199.11 million. During the same quarter last year, the business posted $0.26 earnings per share. The company’s revenue for the quarter was up 24.5% compared to the same quarter last year. On average, research analysts predict that AppFolio will post 3.23 earnings per share for the current fiscal year.

Insider Activity at AppFolio

In related news, insider Matthew S. Mazza sold 926 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $229.04, for a total transaction of $212,091.04. Following the sale, the insider now owns 33,819 shares in the company, valued at approximately $7,745,903.76. This represents a 2.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO William Shane Trigg sold 4,145 shares of AppFolio stock in a transaction on Friday, December 6th. The stock was sold at an average price of $263.32, for a total transaction of $1,091,461.40. Following the transaction, the chief executive officer now directly owns 73,682 shares of the company’s stock, valued at $19,401,944.24. The trade was a 5.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,768 shares of company stock valued at $5,744,891. Insiders own 5.24% of the company’s stock.

Institutional Trading of AppFolio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of AppFolio by 8.2% during the third quarter. State Street Corp now owns 653,136 shares of the software maker’s stock valued at $153,748,000 after buying an additional 49,238 shares during the last quarter. Lord Abbett & CO. LLC boosted its holdings in AppFolio by 82.2% during the 3rd quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker’s stock valued at $108,116,000 after acquiring an additional 207,204 shares during the period. Geode Capital Management LLC grew its position in AppFolio by 8.6% in the 3rd quarter. Geode Capital Management LLC now owns 413,032 shares of the software maker’s stock valued at $97,252,000 after acquiring an additional 32,743 shares during the last quarter. DF Dent & Co. Inc. increased its stake in AppFolio by 10.1% in the third quarter. DF Dent & Co. Inc. now owns 351,691 shares of the software maker’s stock worth $82,788,000 after purchasing an additional 32,181 shares during the period. Finally, Franklin Resources Inc. lifted its position in shares of AppFolio by 31.2% during the third quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker’s stock worth $51,800,000 after purchasing an additional 54,386 shares during the last quarter. 85.19% 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.