AppFolio (NASDAQ:APPF) Upgraded at Wall Street Zen
by Danessa Lincoln · The Markets DailyWall Street Zen upgraded shares of AppFolio (NASDAQ:APPF – Free Report) from a hold rating to a buy rating in a report issued on Sunday morning.
Other equities analysts have also recently issued research reports about the stock. Wells Fargo & Company reaffirmed a “buy” rating on shares of AppFolio in a research report on Thursday, January 15th. William Blair reissued an “outperform” rating on shares of AppFolio in a report on Friday, January 30th. Weiss Ratings cut AppFolio from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, January 16th. Keefe, Bruyette & Woods reduced their target price on AppFolio from $311.00 to $290.00 and set an “outperform” rating on the stock in a report on Friday, January 30th. Finally, DA Davidson decreased their target price on AppFolio from $325.00 to $275.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Eight equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $270.83.
Get Our Latest Research Report on AppFolio
AppFolio Trading Down 1.1%
Shares of NASDAQ:APPF opened at $168.48 on Friday. The firm has a market cap of $6.06 billion, a PE ratio of 43.42 and a beta of 0.75. The company has a fifty day simple moving average of $192.81 and a 200 day simple moving average of $228.10. AppFolio has a 12-month low of $161.13 and a 12-month high of $326.04.
AppFolio (NASDAQ:APPF – Get Free Report) last posted its quarterly earnings data on Thursday, January 29th. The software maker reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.17. The firm had revenue of $248.19 million for the quarter, compared to the consensus estimate of $246.56 million. AppFolio had a net margin of 14.82% and a return on equity of 29.79%. The firm’s revenue was up 21.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.92 EPS. As a group, equities research analysts forecast that AppFolio will post 3.96 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, CEO William Shane Trigg sold 6,963 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $169.73, for a total transaction of $1,181,829.99. Following the sale, the chief executive officer directly owned 52,920 shares in the company, valued at $8,982,111.60. This trade represents a 11.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 4.68% of the company’s stock.
Institutional Trading of AppFolio
Hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada grew its holdings in shares of AppFolio by 22.6% in the 1st quarter. Royal Bank of Canada now owns 45,452 shares of the software maker’s stock valued at $9,993,000 after acquiring an additional 8,367 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in AppFolio by 23.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 384 shares of the software maker’s stock worth $84,000 after purchasing an additional 73 shares during the period. Millennium Management LLC lifted its position in AppFolio by 237.7% during the first quarter. Millennium Management LLC now owns 18,055 shares of the software maker’s stock worth $3,970,000 after acquiring an additional 12,709 shares during the last quarter. Jones Financial Companies Lllp increased its position in AppFolio by 164.8% during the 1st quarter. Jones Financial Companies Lllp now owns 654 shares of the software maker’s stock worth $144,000 after buying an additional 407 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of AppFolio by 322.5% during the first quarter. Goldman Sachs Group Inc. now owns 66,777 shares of the software maker’s stock worth $14,684,000 after buying an additional 50,970 shares in the last quarter. 85.19% of the stock is currently owned by institutional investors and hedge funds.
AppFolio Company Profile
AppFolio, Inc is a Santa Barbara–based provider of cloud-based software solutions for the property management and legal industries. Founded in 2006 by former software executives, the company went public on the NASDAQ under the symbol APPF in 2015. Its original offering, AppFolio Property Manager, automates accounting, marketing, leasing, and maintenance functions for residential, commercial, student housing, and community association managers.
In 2019, AppFolio expanded its portfolio with the acquisition of MyCase, a web-based legal practice management platform for small to mid-size law firms.