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

KeyCorp cut shares of AppFolio (NASDAQ:APPF) from an overweight rating to a sector weight rating in a report published on Friday morning, Marketbeat.com reports. KeyCorp currently has $253.00 price objective on the software maker’s stock.

A number of other research firms have also weighed in on APPF. Piper Sandler lowered AppFolio from an “overweight” rating to a “neutral” rating and set a $265.00 price objective for the company. in a research note on Monday, January 6th. Keefe, Bruyette & Woods lowered shares of AppFolio from a “market perform” rating to an “underperform” rating and cut their price target for the stock from $255.00 to $193.00 in a 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $261.88.

AppFolio Stock Performance

Shares of AppFolio stock opened at $243.77 on Friday. AppFolio has a 52-week low of $171.19 and a 52-week high of $274.56. The company has a fifty day moving average of $246.48 and a 200-day moving average of $235.46. The stock has a market capitalization of $8.86 billion, a price-to-earnings ratio of 67.90 and a beta of 0.87.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data 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. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The firm had revenue of $206.00 million for the quarter, compared to analysts’ expectations of $199.11 million. During the same period last year, the firm earned $0.26 earnings per share. The company’s revenue for the quarter was up 24.5% compared to the same quarter last year. On average, equities research analysts forecast that AppFolio will post 3.23 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On AppFolio

A number of hedge funds have recently bought and sold shares of the company. Harbor Capital Advisors Inc. raised its holdings in AppFolio by 18.0% in the fourth quarter. Harbor Capital Advisors Inc. now owns 4,227 shares of the software maker’s stock worth $1,043,000 after buying an additional 646 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of AppFolio by 2.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,620 shares of the software maker’s stock valued at $1,558,000 after acquiring an additional 157 shares in the last quarter. Westwind Capital increased its position in shares of AppFolio by 0.5% during the fourth quarter. Westwind Capital now owns 77,583 shares of the software maker’s stock valued at $19,141,000 after acquiring an additional 370 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in AppFolio by 3.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 161,278 shares of the software maker’s stock worth $37,965,000 after acquiring an additional 5,077 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in AppFolio by 16.1% in the 3rd quarter. Principal Financial Group Inc. now owns 177,831 shares of the software maker’s stock valued at $41,861,000 after acquiring an additional 24,697 shares in the last quarter. Institutional investors own 85.19% of the company’s stock.

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.