KeyCorp Raises AppFolio (NASDAQ:APPF) Price Target to $275.00

AppFolio (NASDAQ:APPF) had its target price hoisted by KeyCorp from $264.00 to $275.00 in a research note published on Friday morning, Benzinga reports. They currently have an overweight rating on the software maker’s stock.

Several other equities research analysts also recently commented on APPF. BTIG Research started coverage on AppFolio in a report on Friday, January 19th. They set a buy rating and a $215.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on AppFolio from $228.00 to $237.00 and gave the company an overweight rating in a report on Friday, January 26th. Finally, Stephens restated an overweight rating and set a $241.00 price objective on shares of AppFolio in a report on Friday, January 26th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $241.00.

AppFolio Stock Up 12.0 %

NASDAQ APPF opened at $242.75 on Friday. The company has a market cap of $8.71 billion, a price-to-earnings ratio of 8,094.36 and a beta of 0.80. AppFolio has a 52 week low of $123.36 and a 52 week high of $256.73. The business has a 50 day moving average price of $229.41 and a 200-day moving average price of $204.69.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Thursday, January 25th. The software maker reported $0.61 EPS 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 negative return on equity of 8.58% and a net margin of 0.44%. On average, equities research analysts anticipate that AppFolio will post 2.66 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Blottnitz Andreas Von sold 4,500 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $226.56, for a total transaction of $1,019,520.00. Following the completion of the sale, the director now owns 5,449 shares in the company, valued at $1,234,525.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other AppFolio 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 value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Blottnitz Andreas Von sold 4,500 shares of the company’s stock in a transaction on 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. Over the last 90 days, insiders sold 15,489 shares of company stock worth $3,531,011. 9.15% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of APPF. Norges Bank bought a new position in AppFolio in the 4th quarter valued at $38,458,000. Zeno Equity Partners LLP bought a new position in AppFolio in the 4th quarter valued at $33,434,000. Lord Abbett & CO. LLC bought a new position in AppFolio in the 3rd quarter valued at $33,062,000. Assenagon Asset Management S.A. grew its stake in AppFolio by 344.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 155,127 shares of the software maker’s stock valued at $38,276,000 after purchasing an additional 120,246 shares during the period. Finally, Wellington Management Group LLP bought a new position in AppFolio in the 4th quarter valued at $18,636,000. Institutional investors own 62.34% of the company’s stock.

AppFolio Company Profile

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.