AppFolio (NASDAQ:APPF) Downgraded by Keefe, Bruyette & Woods to Underperform

Keefe, Bruyette & Woods lowered shares of AppFolio (NASDAQ:APPF) from a market perform rating to an underperform rating in a research report released on Tuesday morning, Marketbeat reports. The brokerage currently has $193.00 target price on the software maker’s stock, down from their prior target price of $255.00.

APPF has been the topic of a number of other research reports. Piper Sandler upped their price target on shares of AppFolio from $295.00 to $300.00 and gave the company an overweight rating in a research report on Friday, July 26th. StockNews.com lowered shares of AppFolio from a buy rating to a hold rating in a research note on Thursday, August 22nd. JPMorgan Chase & Co. lifted their target price on AppFolio from $260.00 to $328.00 and gave the company an overweight rating in a research report on Wednesday, July 17th. DA Davidson upped their price objective on shares of AppFolio from $285.00 to $300.00 and gave the stock a buy rating in a research report on Friday, July 26th. Finally, Piper Sandler Companies restated an overweight rating and issued a $300.00 price objective on shares of AppFolio in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $272.13.

AppFolio Trading Down 10.8 %

NASDAQ APPF opened at $201.97 on Tuesday. The company has a 50 day moving average of $226.04 and a 200-day moving average of $232.83. AppFolio has a 1-year low of $164.29 and a 1-year high of $274.56. The company has a market cap of $7.31 billion, a price-to-earnings ratio of 97.57 and a beta of 0.81.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, July 25th. The software maker reported $1.12 EPS for the quarter, topping the consensus estimate of $0.96 by $0.16. AppFolio had a return on equity of 27.39% and a net margin of 17.32%. The firm had revenue of $197.38 million during the quarter, compared to the consensus estimate of $190.57 million. During the same quarter in the previous year, the firm earned ($0.53) earnings per share. The business’s quarterly revenue was up 34.2% on a year-over-year basis. On average, equities research analysts forecast that AppFolio will post 3.04 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Maurice J. Duca sold 1,296 shares of AppFolio stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $236.77, for a total transaction of $306,853.92. Following the completion of the transaction, the insider now directly owns 9,383 shares of the company’s stock, valued at $2,221,612.91. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other AppFolio news, major shareholder Maurice J. Duca sold 1,842 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $235.71, for a total value of $434,177.82. Following the transaction, the insider now owns 12,874 shares of the company’s stock, valued at approximately $3,034,530.54. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Maurice J. Duca sold 1,296 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $236.77, for a total transaction of $306,853.92. Following the completion of the transaction, the insider now owns 9,383 shares in the company, valued at $2,221,612.91. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,941 shares of company stock valued at $8,327,162 over the last three months. Corporate insiders own 9.15% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. GAMMA Investing LLC grew its position in shares of AppFolio by 589.5% during the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after purchasing an additional 112 shares in the last quarter. CWM LLC raised its position in shares of AppFolio by 238.6% during the 2nd quarter. CWM LLC now owns 149 shares of the software maker’s stock valued at $36,000 after buying an additional 105 shares in the last quarter. Advisors Asset Management Inc. raised its position in AppFolio by 291.3% during the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock valued at $44,000 after purchasing an additional 134 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in AppFolio by 688.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock valued at $52,000 after buying an additional 186 shares during the period. Finally, Quarry LP raised its stake in shares of AppFolio by 147.9% in the second quarter. Quarry LP now owns 238 shares of the software maker’s stock valued at $58,000 after acquiring an additional 142 shares during the period. 62.34% of the stock is owned by hedge funds and other institutional investors.

AppFolio Company Profile

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.