AppFolio, Inc. (NASDAQ:APPF) Director Purchases $1,525,650.00 in Stock

AppFolio, Inc. (NASDAQ:APPF) Director Timothy K. Bliss acquired 7,000 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were acquired at an average cost of $217.95 per share, with a total value of $1,525,650.00. Following the transaction, the director now owns 22,000 shares in the company, valued at approximately $4,794,900. The trade was a 46.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

AppFolio Trading Up 0.3%

AppFolio stock traded up $0.70 during midday trading on Monday, reaching $217.95. 258,491 shares of the stock traded hands, compared to its average volume of 272,130. The firm has a fifty day moving average price of $214.91 and a two-hundred day moving average price of $229.67. The firm has a market cap of $7.85 billion, a price-to-earnings ratio of 39.27 and a beta of 0.87. AppFolio, Inc. has a fifty-two week low of $189.01 and a fifty-two week high of $274.56.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Thursday, April 24th. The software maker reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). The company had revenue of $217.70 million during the quarter, compared to analyst estimates of $220.95 million. AppFolio had a return on equity of 26.21% and a net margin of 25.69%. The company’s revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.05 earnings per share. Analysts anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

APPF has been the subject of a number of analyst reports. Keefe, Bruyette & Woods reduced their target price on shares of AppFolio from $210.00 to $205.00 and set an “underweight” rating for the company in a research note on Friday, April 25th. DA Davidson raised shares of AppFolio to a “strong-buy” rating in a research note on Tuesday, May 13th. Finally, Piper Sandler reissued a “neutral” rating and set a $265.00 target price on shares of AppFolio in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, AppFolio has an average rating of “Moderate Buy” and a consensus target price of $274.43.

Institutional Trading of AppFolio

Institutional investors have recently made changes to their positions in the stock. Colonial Trust Co SC acquired a new stake in shares of AppFolio in the 4th quarter worth approximately $28,000. Fifth Third Bancorp lifted its stake in shares of AppFolio by 53.0% in the 1st quarter. Fifth Third Bancorp now owns 179 shares of the software maker’s stock worth $39,000 after acquiring an additional 62 shares during the period. Versant Capital Management Inc lifted its stake in shares of AppFolio by 4,975.0% in the 1st quarter. Versant Capital Management Inc now owns 203 shares of the software maker’s stock worth $45,000 after acquiring an additional 199 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in shares of AppFolio in the 4th quarter worth approximately $50,000. Finally, Aster Capital Management DIFC Ltd lifted its stake in shares of AppFolio by 10,300.0% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 208 shares of the software maker’s stock worth $51,000 after acquiring an additional 206 shares during the period. 85.19% of the stock is 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.