AppFolio (NASDAQ:APPF) PT Raised to $275.00

AppFolio (NASDAQ:APPF) had its target price lifted by analysts at KeyCorp from $264.00 to $275.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the software maker’s stock. KeyCorp’s price objective would suggest a potential upside of 13.29% from the company’s previous close.

Several other research firms have also commented on APPF. BTIG Research began coverage on shares of AppFolio in a research report on Friday, January 19th. They set a “buy” rating and a $215.00 price target for the company. JPMorgan Chase & Co. upped their price objective on shares of 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 equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $241.00.

AppFolio Price Performance

NASDAQ:APPF opened at $242.75 on Friday. AppFolio has a 1-year low of $123.36 and a 1-year high of $256.73. The company has a 50-day moving average of $229.59 and a 200 day moving average of $205.11. The firm has a market cap of $8.71 billion, a PE ratio of 117.27 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 EPS for the quarter, beating the consensus estimate of $0.32 by $0.29. The business had revenue of $171.83 million during the quarter, compared to analyst estimates of $162.80 million. AppFolio had a net margin of 11.38% and a return on equity of 14.51%. Sell-side analysts anticipate that AppFolio will post 2.66 EPS for the current fiscal year.

Insider Buying and Selling

In related news, 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 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 SEC, which is available through this link. In related news, 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 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 SEC, which is available through this link. Also, Director Timothy K. Bliss sold 10,000 shares of the 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 transaction, the director now owns 51,070 shares in the company, valued at approximately $11,605,146.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,489 shares of company stock worth $3,531,011. 9.15% of the stock is owned by company insiders.

Institutional Investors Weigh In On AppFolio

Hedge funds and other institutional investors have recently made changes to their positions in the company. Arcadia Investment Management Corp MI grew its stake in shares of AppFolio by 70.4% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 138 shares of the software maker’s stock worth $25,000 after purchasing an additional 57 shares during the period. Zeno Equity Partners LLP acquired a new stake in shares of AppFolio during the 4th quarter worth approximately $30,000. USA Financial Formulas acquired a new stake in shares of AppFolio during the 4th quarter worth approximately $59,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of AppFolio during the 4th quarter worth approximately $64,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of AppFolio during the 4th quarter worth approximately $85,000. 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.