AppFolio (NASDAQ:APPF) PT Raised to $300.00

AppFolio (NASDAQ:APPF) had its price objective boosted by analysts at KeyCorp from $275.00 to $300.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the software maker’s stock. KeyCorp’s target price would indicate a potential upside of 27.29% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Piper Sandler Companies restated an “overweight” rating and issued a $300.00 price objective on shares of AppFolio in a research note on Friday. DA Davidson boosted their price target on AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a research note on Friday. JPMorgan Chase & Co. lifted their price objective on AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Piper Sandler upped their target price on AppFolio from $295.00 to $300.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Keefe, Bruyette & Woods raised their target price on AppFolio from $215.00 to $238.00 and gave the stock a “market perform” rating in a research report on Friday, April 26th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, AppFolio currently has an average rating of “Moderate Buy” and an average price target of $277.75.

AppFolio Stock Performance

Shares of NASDAQ:APPF traded down $23.39 during midday trading on Friday, hitting $235.68. The company’s stock had a trading volume of 510,237 shares, compared to its average volume of 303,179. The stock’s 50 day simple moving average is $242.72 and its 200 day simple moving average is $230.34. The stock has a market capitalization of $8.53 billion, a price-to-earnings ratio of 114.47 and a beta of 0.80. AppFolio has a fifty-two week low of $164.29 and a fifty-two week high of $274.56.

AppFolio (NASDAQ:APPF) last released its earnings results on Thursday, April 25th. The software maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.09. AppFolio had a return on equity of 13.51% and a net margin of 11.38%. The firm had revenue of $187.43 million for the quarter, compared to analyst estimates of $173.66 million. As a group, analysts anticipate that AppFolio will post 2.85 EPS for the current year.

Insider Activity

In other AppFolio news, insider Matthew S. Mazza sold 2,131 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $249.46, for a total transaction of $531,599.26. Following the sale, the insider now directly owns 43,680 shares of the company’s stock, valued at $10,896,412.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Matthew S. Mazza sold 2,131 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $249.46, for a total value of $531,599.26. Following the transaction, the insider now directly owns 43,680 shares of the company’s stock, valued at approximately $10,896,412.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alexander Wolf sold 10,000 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $250.26, for a total value of $2,502,600.00. Following the sale, the director now directly owns 182,584 shares of the company’s stock, valued at $45,693,471.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 130,444 shares of company stock worth $31,124,559. Corporate insiders own 9.15% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of APPF. GAMMA Investing LLC raised its holdings in AppFolio by 589.5% during the 2nd quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after purchasing an additional 112 shares during the last quarter. CWM LLC lifted its stake in shares of AppFolio by 238.6% in the 2nd quarter. CWM LLC now owns 149 shares of the software maker’s stock valued at $36,000 after purchasing an additional 105 shares during the period. Advisors Asset Management Inc. boosted its position in shares of AppFolio by 291.3% in the 1st quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock worth $44,000 after purchasing an additional 134 shares during the last quarter. USA Financial Formulas acquired a new stake in shares of AppFolio during the fourth quarter worth $59,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in AppFolio in the fourth quarter valued at about $64,000. 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.