AppFolio (NASDAQ:APPF) Shares Gap Up on Analyst Upgrade

AppFolio, Inc. (NASDAQ:APPF)’s share price gapped up before the market opened on Friday after KeyCorp raised their price target on the stock from $264.00 to $275.00. The stock had previously closed at $216.65, but opened at $243.90. KeyCorp currently has an overweight rating on the stock. AppFolio shares last traded at $248.44, with a volume of 126,173 shares trading hands.

APPF has been the topic of several other research reports. Stephens reiterated an “overweight” rating and issued a $241.00 target price on shares of AppFolio in a research note on Friday, January 26th. BTIG Research started coverage on AppFolio in a report on Friday, January 19th. They set a “buy” rating and a $215.00 target price for the company. Finally, JPMorgan Chase & Co. lifted their target price on AppFolio from $228.00 to $237.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, AppFolio currently has a consensus rating of “Moderate Buy” and an average target price of $241.60.

Insider Buying and Selling at AppFolio

In other news, Director Olivia Nottebohm sold 989 shares of the business’s stock in a transaction that occurred 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 directly owns 1,909 shares in the company, valued at $461,500.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Timothy K. Bliss sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $227.24, for a total transaction of $2,272,400.00. Following the completion of the sale, the director now directly owns 51,070 shares in the company, valued at $11,605,146.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Olivia Nottebohm sold 989 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 1,909 shares of the company’s stock, valued at $461,500.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,489 shares of company stock valued at $3,531,011. 9.15% of the stock is owned by company insiders.

Hedge Funds Weigh In On AppFolio

Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC purchased a new position in AppFolio during the 3rd quarter valued at about $531,000. Harbor Capital Advisors Inc. raised its position in AppFolio by 10.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,575 shares of the software maker’s stock valued at $653,000 after purchasing an additional 334 shares in the last quarter. Cavalier Investments LLC raised its position in AppFolio by 3.8% in the 3rd quarter. Cavalier Investments LLC now owns 9,678 shares of the software maker’s stock valued at $1,767,000 after purchasing an additional 350 shares in the last quarter. Arcadia Investment Management Corp MI raised its position in AppFolio by 70.4% in the 3rd quarter. Arcadia Investment Management Corp MI now owns 138 shares of the software maker’s stock valued at $25,000 after purchasing an additional 57 shares in the last quarter. Finally, Verdence Capital Advisors LLC raised its position in AppFolio by 7.2% in the 3rd quarter. Verdence Capital Advisors LLC now owns 2,059 shares of the software maker’s stock valued at $376,000 after purchasing an additional 139 shares in the last quarter. 62.34% of the stock is currently owned by hedge funds and other institutional investors.

AppFolio Stock Performance

The company has a market cap of $9.20 billion, a price-to-earnings ratio of 8,187.40 and a beta of 0.80. The business has a 50-day simple moving average of $229.89 and a 200-day simple moving average of $204.61.

AppFolio (NASDAQ:APPF) last issued its 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 business had revenue of $171.83 million for the quarter, compared to analyst estimates of $162.80 million. AppFolio had a negative return on equity of 8.58% and a net margin of 0.44%. Research analysts anticipate that AppFolio, Inc. will post 2.66 EPS for the current year.

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.