AppFolio (NASDAQ:APPF) Price Target Raised to $275.00 at KeyCorp

AppFolio (NASDAQ:APPF) had its price target boosted by KeyCorp from $264.00 to $275.00 in a report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the software maker’s stock. KeyCorp’s price target would suggest a potential upside of 26.93% from the company’s previous close.

A number of other research analysts also recently weighed in on APPF. Stephens reissued an “overweight” rating and issued a $241.00 price target on shares of AppFolio in a research note on Friday, January 26th. BTIG Research initiated coverage on AppFolio in a research note on Friday, January 19th. They issued a “buy” rating and a $215.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their price objective on shares of AppFolio from $228.00 to $237.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, AppFolio has an average rating of “Moderate Buy” and an average target price of $241.60.

AppFolio Stock Up 0.3 %

APPF stock opened at $216.65 on Friday. The business’s fifty day moving average is $229.89 and its 200-day moving average is $204.61. The company has a market cap of $7.77 billion, a P/E ratio of 7,224.07 and a beta of 0.80. AppFolio has a twelve month low of $123.36 and a twelve month high of $253.42.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, January 25th. The software maker reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.29. The company had revenue of $171.83 million for the quarter, compared to the consensus estimate of $162.80 million. AppFolio had a negative return on equity of 8.58% and a net margin of 0.44%. Research analysts anticipate that AppFolio will post 2.66 earnings per share for the current fiscal year.

Insider Activity at AppFolio

In other AppFolio news, Director Timothy K. Bliss sold 10,000 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $227.24, for a total transaction of $2,272,400.00. Following the completion of the transaction, the director now owns 51,070 shares in the company, valued at approximately $11,605,146.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Timothy K. Bliss sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $227.24, for a total value of $2,272,400.00. Following the completion of the transaction, the director now owns 51,070 shares in the company, valued at approximately $11,605,146.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Blottnitz Andreas Von sold 4,500 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $226.56, for a total value of $1,019,520.00. Following the completion of the transaction, the director now owns 5,449 shares of the company’s stock, valued at approximately $1,234,525.44. The disclosure for this sale can be found here. Insiders sold a total of 15,489 shares of company stock worth $3,531,011 in the last quarter. Corporate insiders own 9.15% of the company’s stock.

Institutional Investors Weigh In On AppFolio

Several hedge funds have recently bought and sold shares of the company. Arcadia Investment Management Corp MI grew its holdings in AppFolio by 70.4% during the third quarter. Arcadia Investment Management Corp MI now owns 138 shares of the software maker’s stock worth $25,000 after purchasing an additional 57 shares during the period. Zeno Equity Partners LLP bought a new position in AppFolio during the fourth quarter worth about $30,000. USA Financial Formulas bought a new position in AppFolio during the fourth quarter worth about $59,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of AppFolio during the fourth quarter worth approximately $64,000. Finally, Headlands Technologies LLC bought a new stake in shares of AppFolio during the fourth quarter worth approximately $85,000. 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.