Brokerages Set AppFolio, Inc. (NASDAQ:APPF) Target Price at $248.71

AppFolio, Inc. (NASDAQ:APPF) has received a consensus recommendation of “Moderate Buy” from the eight brokerages that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $248.71.

A number of brokerages have weighed in on APPF. Keefe, Bruyette & Woods boosted their price target on AppFolio from $215.00 to $238.00 and gave the stock a “market perform” rating in a research report on Friday, April 26th. Stephens reiterated an “overweight” rating and set a $241.00 price target on shares of AppFolio in a report on Friday, April 26th. Piper Sandler initiated coverage on shares of AppFolio in a research note on Monday, June 10th. They issued an “overweight” rating and a $295.00 price objective for the company. Finally, KeyCorp upped their price objective on shares of AppFolio from $264.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, April 26th.

AppFolio Stock Performance

NASDAQ:APPF opened at $244.57 on Tuesday. The company has a market capitalization of $8.86 billion, a P/E ratio of 118.15 and a beta of 0.80. The stock’s 50 day moving average price is $235.25 and its 200 day moving average price is $219.78. AppFolio has a 52 week low of $164.29 and a 52 week high of $256.73.

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

Insider Buying and Selling

In other AppFolio news, major shareholder Maurice J. Duca sold 2,600 shares of the stock in a transaction on Monday, June 17th. The shares were sold at an average price of $229.65, for a total value of $597,090.00. Following the completion of the sale, the insider now directly owns 52,400 shares of the company’s stock, valued at approximately $12,033,660. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, major shareholder Maurice J. Duca sold 3,205 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $239.22, for a total transaction of $766,700.10. Following the sale, the insider now directly owns 31,643 shares in the company, valued at $7,569,638.46. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Maurice J. Duca sold 2,600 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $229.65, for a total value of $597,090.00. Following the completion of the transaction, the insider now directly owns 52,400 shares of the company’s stock, valued at $12,033,660. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 109,891 shares of company stock valued at $25,950,607. 9.15% of the stock is owned by company insiders.

Hedge Funds Weigh In On AppFolio

A number of hedge funds have recently made changes to their positions in APPF. DekaBank Deutsche Girozentrale bought a new stake in AppFolio in the first quarter valued at about $235,000. EULAV Asset Management bought a new position in shares of AppFolio during the first quarter valued at $2,690,000. Comerica Bank boosted its stake in shares of AppFolio by 129.9% in the 1st quarter. Comerica Bank now owns 13,683 shares of the software maker’s stock valued at $3,376,000 after purchasing an additional 7,732 shares in the last quarter. Caxton Associates LP bought a new stake in shares of AppFolio in the 1st quarter worth about $290,000. Finally, Paloma Partners Management Co acquired a new stake in shares of AppFolio during the 1st quarter worth about $336,000. Institutional investors and hedge funds own 62.34% of the company’s stock.

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.