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

AppFolio (NASDAQ:APPF) had its price target hoisted by research analysts at Keefe, Bruyette & Woods from $215.00 to $238.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “market perform” rating on the software maker’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential downside of 3.36% from the stock’s current price.

APPF has been the subject of several other research reports. Stephens restated an “overweight” rating and set a $241.00 price target on shares of AppFolio in a report on Friday, January 26th. BTIG Research initiated 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. KeyCorp lifted their price objective on shares of AppFolio from $264.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of AppFolio from $228.00 to $237.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $241.00.

AppFolio Stock Up 13.7 %

AppFolio stock traded up $29.62 during mid-day trading on Friday, hitting $246.27. 285,803 shares of the stock were exchanged, compared to its average volume of 308,421. AppFolio has a 12 month low of $123.36 and a 12 month high of $256.73. The firm’s fifty day simple moving average is $229.89 and its two-hundred day simple moving average is $204.61. The stock has a market capitalization of $8.83 billion, a price-to-earnings ratio of 8,401.13 and a beta of 0.80.

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

Insider Buying and Selling

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

Institutional Trading of AppFolio

A number of institutional investors and hedge funds have recently added to or reduced their stakes in APPF. Arcadia Investment Management Corp MI lifted its stake in AppFolio by 70.4% in the third quarter. Arcadia Investment Management Corp MI now owns 138 shares of the software maker’s stock worth $25,000 after acquiring an additional 57 shares during the period. Zeno Equity Partners LLP purchased a new stake in AppFolio in the fourth quarter worth $30,000. USA Financial Formulas purchased a new stake in AppFolio in the fourth quarter worth $59,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in AppFolio in the fourth quarter worth $64,000. Finally, Meeder Asset Management Inc. bought a new position in AppFolio in the fourth quarter worth $85,000. Hedge funds and other 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.