AppFolio (NASDAQ:APPF) Lowered to "Neutral" Rating by Piper Sandler

AppFolio (NASDAQ:APPF - Get Free Report) was downgraded by research analysts at Piper Sandler from an "overweight" rating to a "neutral" rating in a research note issued on Monday, MarketBeat reports. They presently have a $265.00 price objective on the software maker's stock. Piper Sandler's target price would indicate a potential upside of 5.56% from the stock's previous close.

APPF has been the topic of several other reports. KeyCorp decreased their price objective on shares of AppFolio from $300.00 to $252.00 and set an "overweight" rating on the stock in a research report on Friday, October 25th. Keefe, Bruyette & Woods cut shares of AppFolio from a "market perform" rating to an "underperform" rating and cut their price target for the stock from $255.00 to $193.00 in a research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, AppFolio presently has a consensus rating of "Moderate Buy" and an average target price of $261.75.

AppFolio Stock Performance

NASDAQ APPF traded down $1.67 during trading hours on Monday, hitting $251.05. The company had a trading volume of 192,607 shares, compared to its average volume of 175,969. The firm has a market capitalization of $9.12 billion, a price-to-earnings ratio of 69.93 and a beta of 0.87. AppFolio has a 52 week low of $165.13 and a 52 week high of $274.56. The firm has a 50 day simple moving average of $244.19 and a 200 day simple moving average of $235.08.

AppFolio (NASDAQ:APPF - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 EPS for the quarter, beating analysts' consensus estimates of $1.03 by $0.26. The company had revenue of $206.00 million during the quarter, compared to analyst estimates of $199.11 million. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. AppFolio's revenue was up 24.5% compared to the same quarter last year. During the same period last year, the business earned $0.26 earnings per share. On average, research analysts forecast that AppFolio will post 3.23 earnings per share for the current year.

Insider Transactions at AppFolio

In other news, major shareholder Maurice J. Duca sold 2,510 shares of the firm's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $229.21, for a total value of $575,317.10. Following the transaction, the insider now owns 2,459 shares in the company, valued at approximately $563,627.39. This trade represents a 50.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Matthew S. Mazza sold 926 shares of the company's stock in a transaction on Monday, November 11th. The shares were 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 of the company's stock, valued at $7,745,903.76. This represents a 2.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,768 shares of company stock worth $5,744,891. Company insiders own 5.24% of the company's stock.

Institutional Investors Weigh In On AppFolio

Several institutional investors and hedge funds have recently bought and sold shares of the business. Lord Abbett & CO. LLC increased its position 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 purchasing an additional 207,204 shares during the period. Squarepoint Ops LLC grew its holdings in shares of AppFolio by 188.2% during the 2nd quarter. Squarepoint Ops LLC now owns 185,034 shares of the software maker's stock worth $45,254,000 after acquiring an additional 120,835 shares during the period. FMR LLC raised its position in shares of AppFolio by 998.0% in the 3rd quarter. FMR LLC now owns 60,894 shares of the software maker's stock worth $14,334,000 after acquiring an additional 55,348 shares in the last quarter. Franklin Resources Inc. lifted its position in AppFolio by 31.2% during the third quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker's stock valued at $51,800,000 after buying an additional 54,386 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in AppFolio during the second quarter worth about $12,993,000. Hedge funds and other institutional investors own 85.19% 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.