AppFolio (NASDAQ:APPF) Lowered to “Sector Weight” Rating by KeyCorp

AppFolio (NASDAQ:APPF) was downgraded by analysts at KeyCorp from an “overweight” rating to a “sector weight” rating in a note issued to investors on Friday, Marketbeat reports. They presently have a $253.00 price target on the software maker’s stock. KeyCorp’s price target suggests a potential upside of 3.79% from the company’s previous close.

Several other analysts have also issued reports on the company. Piper Sandler lowered AppFolio from an “overweight” rating to a “neutral” rating and set a $265.00 price objective on the stock. in a research note on Monday, January 6th. Keefe, Bruyette & Woods lowered AppFolio from a “market perform” rating to an “underperform” rating and decreased their price target for the company from $255.00 to $193.00 in a research note on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $261.88.

AppFolio Price Performance

AppFolio stock opened at $243.77 on Friday. The business has a 50 day simple moving average of $247.19 and a 200 day simple moving average of $235.52. AppFolio has a one year low of $171.19 and a one year high of $274.56. The company has a market capitalization of $8.86 billion, a PE ratio of 67.90 and a beta of 0.87.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.26. The firm had revenue of $206.00 million during the quarter, compared to analysts’ expectations of $199.11 million. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The company’s revenue was up 24.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.26 earnings per share. Equities analysts anticipate that AppFolio will post 3.23 earnings per share for the current fiscal year.

Insider Transactions at AppFolio

In other news, CEO William Shane Trigg sold 4,145 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $263.32, for a total transaction of $1,091,461.40. Following the completion of the sale, the chief executive officer now owns 73,682 shares of the company’s stock, valued at $19,401,944.24. The trade was a 5.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Matthew S. Mazza sold 700 shares of AppFolio stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $255.50, for a total transaction of $178,850.00. Following the transaction, the insider now owns 27,566 shares in the company, valued at approximately $7,043,113. This trade represents a 2.48 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,768 shares of company stock worth $5,744,891. Company insiders own 5.24% of the company’s stock.

Institutional Trading of AppFolio

Several hedge funds have recently bought and sold shares of APPF. Blue Trust Inc. grew its holdings in AppFolio by 85.7% during the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock valued at $29,000 after purchasing an additional 54 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in AppFolio by 688.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock valued at $52,000 after acquiring an additional 186 shares during the last quarter. Quarry LP raised its holdings in shares of AppFolio by 147.9% in the second quarter. Quarry LP now owns 238 shares of the software maker’s stock worth $58,000 after buying an additional 142 shares during the last quarter. True Wealth Design LLC purchased a new position in shares of AppFolio in the third quarter worth $79,000. Finally, Advisors Asset Management Inc. increased its stake in shares of AppFolio by 56.6% in the third quarter. Advisors Asset Management Inc. now owns 390 shares of the software maker’s stock worth $92,000 after acquiring an additional 141 shares during the period. Hedge funds and other institutional investors 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.