AppFolio's (APPF) "Outperform" Rating Reaffirmed at William Blair

AppFolio (NASDAQ:APPF - Get Free Report)'s stock had its "outperform" rating reissued by William Blair in a research note issued to investors on Friday,RTT News reports.

A number of other research analysts also recently commented on APPF. KeyCorp downgraded AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 price objective on the stock. in a report on Friday, January 10th. Keefe, Bruyette & Woods downgraded shares of AppFolio from a "market perform" rating to an "underperform" rating and dropped their target price for the company from $255.00 to $193.00 in a research report on Tuesday, October 15th. Stephens reissued an "overweight" rating and issued a $295.00 price target on shares of AppFolio in a research report on Friday. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $265.00 price objective on shares of AppFolio in a report on Friday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $276.29.

AppFolio Price Performance

Shares of APPF stock traded down $6.77 during trading on Friday, reaching $231.73. The company's stock had a trading volume of 316,545 shares, compared to its average volume of 296,402. AppFolio has a 1-year low of $189.01 and a 1-year high of $274.56. The stock's 50-day moving average price is $253.57 and its 200 day moving average price is $235.22. The company has a market capitalization of $8.42 billion, a price-to-earnings ratio of 41.75 and a beta of 0.88.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The software maker reported $0.58 earnings per share for the quarter, missing analysts' consensus estimates of $0.92 by ($0.34). AppFolio had a return on equity of 26.21% and a net margin of 25.69%. On average, sell-side analysts anticipate that AppFolio will post 4.21 EPS for the current fiscal year.

Insider Activity

In other news, CEO William Shane Trigg sold 3,500 shares of the business's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $229.85, for a total value of $804,475.00. Following the completion of the transaction, the chief executive officer now directly owns 74,327 shares of the company's stock, valued at $17,084,060.95. The trade was a 4.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Matthew S. Mazza sold 926 shares of AppFolio stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $229.04, for a total value of $212,091.04. Following the sale, the insider now owns 33,819 shares of the company's stock, valued at approximately $7,745,903.76. This represents a 2.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,606 shares of company stock worth $5,958,832 in the last 90 days. 5.24% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AppFolio

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

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.