AppFolio (NASDAQ:APPF) Stock Rating Lowered by KeyCorp

AppFolio (NASDAQ:APPF) was downgraded by equities researchers at KeyCorp from an “overweight” rating to a “sector weight” rating in a report released on Friday,Briefing.com Automated Import reports.

A number of other analysts have also recently weighed in on the stock. Piper Sandler cut shares of AppFolio from an “overweight” rating to a “neutral” rating and set a $265.00 price target for the company. in a research note on Monday. Keefe, Bruyette & Woods cut AppFolio from a “market perform” rating to an “underperform” rating and dropped their price target for the company from $255.00 to $193.00 in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $261.75.

AppFolio Price Performance

AppFolio stock opened at $253.59 on Friday. The stock’s fifty day moving average is $246.48 and its two-hundred day moving average is $235.46. The stock has a market cap of $9.21 billion, a PE ratio of 70.64 and a beta of 0.87. AppFolio has a 1-year low of $165.93 and a 1-year high of $274.56.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.26. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The business had revenue of $206.00 million during the quarter, compared to the consensus estimate of $199.11 million. During the same quarter in the previous year, the firm earned $0.26 EPS. The company’s revenue was up 24.5% compared to the same quarter last year. On average, research analysts expect that AppFolio will post 3.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AppFolio news, insider Matthew S. Mazza sold 5,090 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $236.24, for a total value of $1,202,461.60. Following the completion of the transaction, the insider now directly owns 28,266 shares in the company, valued at approximately $6,677,559.84. The trade was a 15.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William Shane Trigg sold 3,500 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $229.85, for a total value of $804,475.00. Following the transaction, the chief executive officer now owns 74,327 shares in the company, valued at $17,084,060.95. This trade represents a 4.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,768 shares of company stock worth $5,744,891 in the last quarter. Company insiders own 5.24% of the company’s stock.

Institutional Investors Weigh In On AppFolio

Large investors have recently made changes to their positions in the business. Commonwealth Equity Services LLC grew its position in AppFolio by 22.6% in the second quarter. Commonwealth Equity Services LLC now owns 3,454 shares of the software maker’s stock valued at $845,000 after acquiring an additional 636 shares in the last quarter. TD Asset Management Inc grew its stake in shares of AppFolio by 48.1% during the second quarter. TD Asset Management Inc now owns 8,000 shares of the software maker’s stock valued at $1,957,000 after acquiring an additional 2,600 shares in the last quarter. Arizona State Retirement System increased its position in shares of AppFolio by 8.0% during the second quarter. Arizona State Retirement System now owns 5,784 shares of the software maker’s stock worth $1,415,000 after acquiring an additional 430 shares during the last quarter. American Century Companies Inc. boosted its holdings in AppFolio by 7.6% in the second quarter. American Century Companies Inc. now owns 3,631 shares of the software maker’s stock valued at $888,000 after purchasing an additional 257 shares during the last quarter. Finally, Jupiter Asset Management Ltd. grew its stake in AppFolio by 68.9% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 39,620 shares of the software maker’s stock valued at $9,690,000 after purchasing an additional 16,169 shares in the last quarter. Institutional investors and hedge funds own 85.19% 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.