AppFolio’s (APPF) Overweight Rating Reiterated at Stephens

Stephens reiterated their overweight rating on shares of AppFolio (NASDAQ:APPF) in a report issued on Friday morning, Benzinga reports. They currently have a $241.00 target price on the software maker’s stock.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. boosted their price objective on shares of AppFolio from $228.00 to $237.00 and gave the stock an overweight rating in a research note on Friday, January 26th. Keefe, Bruyette & Woods boosted their price objective on shares of AppFolio from $215.00 to $238.00 and gave the stock a market perform rating in a research note on Friday. KeyCorp boosted their price objective on shares of AppFolio from $264.00 to $275.00 and gave the stock an overweight rating in a research note on Friday. Finally, BTIG Research began coverage on shares of AppFolio in a research note on Friday, January 19th. They issued a buy rating and a $215.00 price objective for the company. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $241.00.

AppFolio Stock Performance

AppFolio stock opened at $242.75 on Friday. The company has a 50 day moving average price of $229.41 and a 200-day moving average price of $204.69. AppFolio has a fifty-two week low of $123.36 and a fifty-two week high of $256.73. The company has a market capitalization of $8.71 billion, a PE ratio of 8,094.36 and a beta of 0.80.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, January 25th. The software maker reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.29. The firm had revenue of $171.83 million during the quarter, compared to the consensus estimate of $162.80 million. AppFolio had a net margin of 0.44% and a negative return on equity of 8.58%. On average, analysts forecast that AppFolio will post 2.66 earnings per share for the current year.

Insider Transactions at AppFolio

In other news, Director Olivia Nottebohm sold 989 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $241.75, for a total transaction of $239,090.75. Following the transaction, the director now directly owns 1,909 shares of the company’s stock, valued at $461,500.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Olivia Nottebohm sold 989 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $241.75, for a total transaction of $239,090.75. Following the transaction, the director now directly owns 1,909 shares of the company’s stock, valued at $461,500.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Timothy K. Bliss sold 10,000 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $227.24, for a total value of $2,272,400.00. Following the transaction, the director now directly owns 51,070 shares in the company, valued at $11,605,146.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,489 shares of company stock valued at $3,531,011. Corporate insiders own 9.15% of the company’s stock.

Institutional Investors Weigh In On AppFolio

A number of large investors have recently made changes to their positions in the stock. Verdence Capital Advisors LLC grew its holdings in shares of AppFolio by 2.7% during the fourth quarter. Verdence Capital Advisors LLC now owns 2,114 shares of the software maker’s stock valued at $366,000 after buying an additional 55 shares during the last quarter. Arcadia Investment Management Corp MI grew its holdings in shares of AppFolio by 70.4% during the third quarter. Arcadia Investment Management Corp MI now owns 138 shares of the software maker’s stock valued at $25,000 after buying an additional 57 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of AppFolio by 1.9% during the third quarter. Arizona State Retirement System now owns 5,321 shares of the software maker’s stock valued at $972,000 after buying an additional 101 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of AppFolio by 3.2% during the fourth quarter. Harbor Capital Advisors Inc. now owns 3,691 shares of the software maker’s stock valued at $639,000 after buying an additional 116 shares during the last quarter. Finally, Zeno Equity Partners LLP purchased a new stake in shares of AppFolio during the fourth quarter valued at $30,000. 62.34% of the stock is owned by hedge funds and other institutional investors.

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.