AppFolio (NASDAQ:APPF) Price Target Cut to $252.00 by Analysts at KeyCorp

AppFolio (NASDAQ:APPF) had its price target cut by KeyCorp from $300.00 to $252.00 in a research report report published on Friday, Benzinga reports. They currently have an overweight rating on the software maker’s stock.

Several other analysts also recently issued reports on APPF. DA Davidson upped their price objective on AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, July 26th. StockNews.com downgraded AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. upped their price objective on AppFolio from $260.00 to $328.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods downgraded AppFolio from a “market perform” rating to an “underperform” rating and reduced their price objective for the company from $255.00 to $193.00 in a research report on Tuesday, October 15th. Finally, Piper Sandler Companies restated an “overweight” rating and issued a $300.00 price objective on shares of AppFolio in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $261.75.

AppFolio Stock Performance

APPF opened at $212.34 on Friday. The business’s fifty day moving average is $223.58 and its two-hundred day moving average is $230.97. The company has a market cap of $7.69 billion, a price-to-earnings ratio of 102.58 and a beta of 0.81. AppFolio has a one year low of $164.29 and a one year high of $274.56.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, October 24th. The software maker reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.26. The company had revenue of $206.00 million for the quarter, compared to the consensus estimate of $199.11 million. AppFolio had a return on equity of 27.39% and a net margin of 17.32%. AppFolio’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.26 earnings per share. On average, analysts predict that AppFolio will post 3.04 EPS for the current fiscal year.

Insider Activity at AppFolio

In related news, major shareholder Maurice J. Duca sold 1,296 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $236.77, for a total value of $306,853.92. Following the completion of the transaction, the insider now directly owns 9,383 shares in the company, valued at approximately $2,221,612.91. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, major shareholder Maurice J. Duca sold 1,296 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $236.77, for a total transaction of $306,853.92. Following the completion of the sale, the insider now directly owns 9,383 shares of the company’s stock, valued at approximately $2,221,612.91. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William Shane Trigg sold 3,501 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $218.98, for a total value of $766,648.98. Following the sale, the chief executive officer now owns 81,699 shares in the company, valued at approximately $17,890,447.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,852 shares of company stock worth $4,100,322. 9.15% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AppFolio

A number of hedge funds have recently bought and sold shares of APPF. Vanguard Group Inc. grew its stake in AppFolio by 3.8% during the 4th quarter. Vanguard Group Inc. now owns 2,078,661 shares of the software maker’s stock valued at $360,107,000 after purchasing an additional 76,934 shares in the last quarter. First Bank & Trust bought a new stake in AppFolio during the 1st quarter valued at $297,000. SteelPeak Wealth LLC bought a new stake in AppFolio during the 1st quarter valued at $247,000. Diversified Trust Co bought a new stake in AppFolio during the 1st quarter valued at $619,000. Finally, State of Michigan Retirement System bought a new stake in AppFolio during the 1st quarter valued at $1,209,000. Institutional investors and hedge funds own 62.34% of the company’s stock.

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.