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

AppFolio (NASDAQ:APPF) had its target price lowered by Piper Sandler from $300.00 to $265.00 in a research note published on Friday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the software maker’s stock.

Several other research analysts have also issued reports on APPF. Piper Sandler Companies restated an “overweight” rating and issued a $300.00 price target on shares of AppFolio in a research report on Friday, July 26th. KeyCorp raised their price target on AppFolio from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods lowered AppFolio from a “market perform” rating to an “underperform” rating and reduced their price target for the stock from $255.00 to $193.00 in a research report on Tuesday, October 15th. JPMorgan Chase & Co. raised their price objective on AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Finally, StockNews.com downgraded AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, AppFolio presently has an average rating of “Moderate Buy” and an average target price of $261.75.

AppFolio Stock Performance

Shares of APPF opened at $212.34 on Friday. The firm has a market capitalization of $7.69 billion, a price-to-earnings ratio of 102.58 and a beta of 0.81. The business’s fifty day moving average price is $223.58 and its two-hundred day moving average price is $230.97. AppFolio has a 52 week low of $164.29 and a 52 week high of $274.56.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.26. AppFolio had a return on equity of 27.39% and a net margin of 17.32%. The business had revenue of $206.00 million for the quarter, compared to analyst estimates of $199.11 million. During the same period last year, the company earned $0.26 EPS. The firm’s revenue was up 24.5% on a year-over-year basis. As a group, research analysts forecast that AppFolio will post 3.04 EPS for the current year.

Insider Buying and Selling at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 3,501 shares of AppFolio stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $218.98, for a total value of $766,648.98. Following the sale, the chief executive officer now owns 81,699 shares of the company’s stock, valued at $17,890,447.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO William Shane Trigg sold 3,501 shares of AppFolio stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $218.98, for a total value of $766,648.98. Following the sale, the chief executive officer now owns 81,699 shares of the company’s stock, valued at approximately $17,890,447.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Matthew S. Mazza sold 2,371 shares of AppFolio stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $221.22, for a total value of $524,512.62. Following the completion of the sale, the insider now directly owns 39,980 shares in the company, valued at approximately $8,844,375.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,852 shares of company stock valued at $4,100,322 in the last 90 days. 9.15% of the stock is currently owned by company insiders.

Institutional Trading of AppFolio

A number of hedge funds and other institutional investors have recently modified their holdings of APPF. Squarepoint Ops LLC increased its position in shares of AppFolio by 188.2% in the second quarter. Squarepoint Ops LLC now owns 185,034 shares of the software maker’s stock valued at $45,254,000 after acquiring an additional 120,835 shares during the last quarter. Westwind Capital grew its holdings in AppFolio by 301.0% during the second quarter. Westwind Capital now owns 149,240 shares of the software maker’s stock worth $3,650,000 after purchasing an additional 112,024 shares during the period. Los Angeles Capital Management LLC grew its holdings in AppFolio by 516.6% during the second quarter. Los Angeles Capital Management LLC now owns 109,850 shares of the software maker’s stock worth $26,866,000 after purchasing an additional 92,034 shares during the period. Jackson Square Partners LLC bought a new position in AppFolio during the first quarter worth about $21,568,000. Finally, Vanguard Group Inc. grew its holdings in AppFolio by 3.8% during the fourth quarter. Vanguard Group Inc. now owns 2,078,661 shares of the software maker’s stock worth $360,107,000 after purchasing an additional 76,934 shares during the period. Institutional investors and hedge funds own 62.34% of the company’s stock.

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.