AppFolio's (APPF) Neutral Rating Reaffirmed at Piper Sandler

AppFolio (NASDAQ:APPF - Get Free Report)'s stock had its "neutral" rating restated by investment analysts at Piper Sandler in a report issued on Friday,Benzinga reports. They presently have a $265.00 price target on the software maker's stock. Piper Sandler's price target would suggest a potential upside of 14.24% from the stock's previous close.

A number of other research analysts also recently issued reports on the stock. Keefe, Bruyette & Woods downgraded shares of AppFolio from a "market perform" rating to an "underperform" rating and cut their price objective for the stock from $255.00 to $193.00 in a research report on Tuesday, October 15th. KeyCorp lowered AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 price objective for the company. in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $276.29.

AppFolio Stock Performance

NASDAQ APPF traded down $6.53 on Friday, reaching $231.97. 247,558 shares of the stock traded hands, compared to its average volume of 290,964. AppFolio has a 12 month low of $189.01 and a 12 month high of $274.56. The company has a fifty day moving average price of $253.57 and a 200-day moving average price of $235.22. The company has a market cap of $8.43 billion, a price-to-earnings ratio of 41.80 and a beta of 0.88.

AppFolio (NASDAQ:APPF - Get Free Report) last issued its earnings results on Thursday, January 30th. The software maker reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.34). AppFolio had a return on equity of 26.21% and a net margin of 25.69%. As a group, research analysts anticipate that AppFolio will post 4.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AppFolio news, insider Matthew S. Mazza sold 838 shares of the stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $255.30, for a total value of $213,941.40. Following the sale, the insider now owns 22,701 shares of the company's stock, valued at $5,795,565.30. This trade represents a 3.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William Shane Trigg sold 4,145 shares of the business's stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $263.32, for a total value of $1,091,461.40. Following the transaction, the chief executive officer now directly owns 73,682 shares of the company's stock, valued at approximately $19,401,944.24. This represents a 5.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,606 shares of company stock worth $5,958,832 over the last ninety days. Corporate insiders own 5.24% of the company's stock.

Hedge Funds Weigh In On AppFolio

Several large investors have recently bought and sold shares of APPF. Tidal Investments LLC increased its holdings in shares of AppFolio by 2.9% in the 3rd quarter. Tidal Investments LLC now owns 1,425 shares of the software maker's stock valued at $335,000 after acquiring an additional 40 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in AppFolio by 6.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 642 shares of the software maker's stock valued at $158,000 after purchasing an additional 40 shares in the last quarter. Blue Trust Inc. increased its stake in AppFolio by 85.7% in the third quarter. Blue Trust Inc. now owns 117 shares of the software maker's stock valued at $29,000 after purchasing an additional 54 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in AppFolio by 11.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 616 shares of the software maker's stock worth $152,000 after purchasing an additional 65 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. lifted its position in shares of AppFolio by 16.0% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 725 shares of the software maker's stock worth $171,000 after buying an additional 100 shares during the last quarter. 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.