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

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

Several other equities analysts have also recently issued reports on the company. KeyCorp boosted their price objective on AppFolio from $275.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, July 26th. DA Davidson upped their price target on AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Piper Sandler Companies reiterated an “overweight” rating and set a $300.00 price objective on shares of AppFolio in a research note on Friday, July 26th. Piper Sandler upped their price target on AppFolio from $295.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Finally, StockNews.com lowered AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $272.13.

AppFolio Price Performance

Shares of APPF stock opened at $201.14 on Tuesday. AppFolio has a 1-year low of $164.29 and a 1-year high of $274.56. The stock’s fifty day moving average price is $225.36 and its 200 day moving average price is $232.13. The company has a market cap of $7.28 billion, a price-to-earnings ratio of 97.17 and a beta of 0.81.

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

Insiders Place Their Bets

In other AppFolio news, major shareholder Klaus Schauser sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $270.00, for a total transaction of $270,000.00. Following the transaction, the insider now owns 403,000 shares in the company, valued at approximately $108,810,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, major shareholder Maurice J. Duca sold 4,462 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $261.19, for a total value of $1,165,429.78. Following the sale, the insider now owns 49,784 shares of the company’s stock, valued at approximately $13,003,082.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Klaus Schauser sold 1,000 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $270.00, for a total value of $270,000.00. Following the transaction, the insider now directly owns 403,000 shares in the company, valued at approximately $108,810,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,941 shares of company stock worth $8,327,162. Company insiders own 9.15% of the company’s stock.

Institutional Trading of AppFolio

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. grew its stake in shares of AppFolio by 85.7% during the third quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock valued at $29,000 after acquiring an additional 54 shares in the last quarter. GAMMA Investing LLC lifted its holdings in AppFolio by 589.5% in the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after acquiring an additional 112 shares during the last quarter. CWM LLC lifted its holdings in AppFolio by 238.6% in the second quarter. CWM LLC now owns 149 shares of the software maker’s stock worth $36,000 after acquiring an additional 105 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in AppFolio by 291.3% in the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock worth $44,000 after acquiring an additional 134 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of 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 buying an additional 186 shares during the last quarter. 62.34% of the stock is currently owned by institutional investors and hedge funds.

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.