AppFolio (NASDAQ:APPF) PT Raised to $238.00 at Keefe, Bruyette & Woods

AppFolio (NASDAQ:APPF) had its price target upped by stock analysts at Keefe, Bruyette & Woods from $215.00 to $238.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “market perform” rating on the software maker’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential downside of 3.36% from the company’s previous close.

A number of other equities analysts have also recently commented on APPF. JPMorgan Chase & Co. lifted their price target on AppFolio from $228.00 to $237.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. BTIG Research initiated coverage on AppFolio in a report on Friday, January 19th. They issued a “buy” rating and a $215.00 target price on the stock. Stephens reissued an “overweight” rating and issued a $241.00 target price on shares of AppFolio in a report on Friday, January 26th. Finally, KeyCorp boosted their price target on AppFolio from $264.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, AppFolio presently has an average rating of “Moderate Buy” and an average target price of $241.00.

AppFolio Trading Up 13.7 %

Shares of APPF stock traded up $29.62 on Friday, hitting $246.27. 285,803 shares of the stock were exchanged, compared to its average volume of 308,421. The firm has a market capitalization of $8.83 billion, a PE ratio of 8,401.13 and a beta of 0.80. AppFolio has a one year low of $123.36 and a one year high of $256.73. The firm’s 50 day moving average is $229.89 and its two-hundred day moving average is $204.61.

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, topping the consensus estimate of $0.32 by $0.29. The company had revenue of $171.83 million during the quarter, compared to the consensus estimate of $162.80 million. AppFolio had a negative return on equity of 8.58% and a net margin of 0.44%. On average, sell-side analysts expect that AppFolio will post 2.66 earnings per share for the current year.

Insider Buying and Selling at AppFolio

In other news, Director Olivia Nottebohm sold 989 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $241.75, for a total value of $239,090.75. Following the completion of the sale, the director now owns 1,909 shares of the company’s stock, valued at approximately $461,500.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AppFolio news, Director Olivia Nottebohm sold 989 shares of AppFolio stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $241.75, for a total transaction of $239,090.75. Following the completion of the transaction, the director now owns 1,909 shares in the company, valued at approximately $461,500.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Blottnitz Andreas Von sold 4,500 shares of AppFolio stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $226.56, for a total value of $1,019,520.00. Following the completion of the transaction, the director now owns 5,449 shares of the company’s stock, valued at approximately $1,234,525.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,489 shares of company stock valued at $3,531,011. 9.15% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Arcadia Investment Management Corp MI lifted its holdings in AppFolio by 70.4% in the third quarter. Arcadia Investment Management Corp MI now owns 138 shares of the software maker’s stock valued at $25,000 after acquiring an additional 57 shares during the last quarter. Zeno Equity Partners LLP acquired a new position in AppFolio during the fourth quarter worth $30,000. USA Financial Formulas acquired a new position in AppFolio during the fourth quarter worth $59,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in AppFolio during the fourth quarter worth $64,000. Finally, Meeder Asset Management Inc. acquired a new position in AppFolio during the fourth quarter worth $85,000. 62.34% of the stock is currently 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.