AppFolio (NASDAQ:APPF) Rating Reiterated by Stephens

AppFolio (NASDAQ:APPF)‘s stock had its “overweight” rating reiterated by equities research analysts at Stephens in a report issued on Friday, Benzinga reports. They presently have a $241.00 price objective on the software maker’s stock. Stephens’ price target would suggest a potential downside of 0.39% from the company’s previous close.

Several other brokerages have also recently weighed in on APPF. KeyCorp boosted their price target on shares of AppFolio from $264.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday. Keefe, Bruyette & Woods boosted their target price on shares of AppFolio from $215.00 to $238.00 and gave the company a “market perform” rating in a report on Friday. JPMorgan Chase & Co. raised their price target on shares of AppFolio from $228.00 to $237.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Finally, BTIG Research began coverage on shares of AppFolio in a research report on Friday, January 19th. They set a “buy” rating and a $215.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, AppFolio has an average rating of “Moderate Buy” and an average target price of $241.00.

AppFolio Stock Up 11.7 %

Shares of AppFolio stock traded up $25.30 on Friday, hitting $241.95. 330,545 shares of the company were exchanged, compared to its average volume of 309,015. The company has a 50-day moving average price of $229.89 and a 200 day moving average price of $204.61. The stock has a market capitalization of $8.68 billion, a price-to-earnings ratio of 8,211.74 and a beta of 0.80. AppFolio has a 1-year low of $123.36 and a 1-year high of $256.73.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Thursday, January 25th. The software maker reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.29. The company had revenue of $171.83 million for the quarter, compared to analyst estimates of $162.80 million. AppFolio had a negative return on equity of 8.58% and a net margin of 0.44%. Research analysts forecast that AppFolio will post 2.66 EPS for the current year.

Insider Buying and Selling

In other AppFolio news, Director Blottnitz Andreas Von sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $226.56, for a total value of $1,019,520.00. Following the sale, the director now owns 5,449 shares of the company’s stock, valued at $1,234,525.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Blottnitz Andreas Von sold 4,500 shares of AppFolio stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $226.56, for a total value of $1,019,520.00. Following the completion of the transaction, the director now owns 5,449 shares in the company, valued at $1,234,525.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy K. Bliss sold 10,000 shares of AppFolio stock in a transaction on Monday, March 11th. The shares were sold at an average price of $227.24, for a total value of $2,272,400.00. Following the completion of the transaction, the director now owns 51,070 shares of the company’s stock, valued at $11,605,146.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,489 shares of company stock valued at $3,531,011. Company insiders own 9.15% of the company’s stock.

Institutional Investors Weigh In On AppFolio

Institutional investors have recently modified their holdings of the company. Norges Bank purchased a new stake in AppFolio during the 4th quarter worth about $38,458,000. Zeno Equity Partners LLP acquired a new stake in shares of AppFolio during the 4th quarter worth about $33,434,000. Lord Abbett & CO. LLC purchased a new stake in AppFolio during the third quarter worth approximately $33,062,000. Assenagon Asset Management S.A. boosted its holdings in AppFolio by 344.7% in the first quarter. Assenagon Asset Management S.A. now owns 155,127 shares of the software maker’s stock valued at $38,276,000 after purchasing an additional 120,246 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new stake in AppFolio during the fourth quarter worth approximately $18,636,000. 62.34% of the stock is owned by hedge funds and other institutional investors.

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.