AppFolio (NASDAQ:APPF) Upgraded at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of AppFolio (NASDAQ:APPF) from a market perform rating to an outperform rating in a research note issued to investors on Friday, MarketBeat.com reports. Keefe, Bruyette & Woods currently has $311.00 price objective on the software maker’s stock.

Other equities research analysts also recently issued reports about the company. Piper Sandler raised AppFolio from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $240.00 to $350.00 in a research report on Friday, August 1st. KeyCorp raised AppFolio from a “sector weight” rating to an “overweight” rating and set a $285.00 price objective on the stock in a report on Friday, October 17th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of AppFolio in a research note on Wednesday, October 8th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $350.00 price target on shares of AppFolio in a research note on Friday, August 1st. Seven investment analysts have rated the stock with a Buy rating, According to MarketBeat, AppFolio currently has a consensus rating of “Buy” and an average target price of $318.20.

AppFolio Trading Up 1.3%

NASDAQ:APPF opened at $242.68 on Friday. AppFolio has a 1 year low of $190.24 and a 1 year high of $326.04. The firm’s fifty day simple moving average is $262.96 and its 200 day simple moving average is $244.24. The firm has a market capitalization of $8.70 billion, a PE ratio of 43.81 and a beta of 0.83.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Thursday, July 31st. The software maker reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.11. The company had revenue of $235.58 million for the quarter, compared to the consensus estimate of $230.10 million. AppFolio had a return on equity of 26.32% and a net margin of 23.54%.The firm’s revenue was up 19.4% compared to the same quarter last year. During the same period last year, the business posted $1.12 earnings per share. AppFolio has set its FY 2025 guidance at EPS. As a group, analysts anticipate that AppFolio will post 3.96 EPS for the current fiscal year.

Insider Transactions at AppFolio

In other news, CFO Timothy Mathias Eaton sold 667 shares of AppFolio stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $276.58, for a total transaction of $184,478.86. Following the completion of the sale, the chief financial officer owned 11,142 shares in the company, valued at $3,081,654.36. The trade was a 5.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Janet Kerr sold 2,500 shares of AppFolio stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $285.04, for a total transaction of $712,600.00. Following the sale, the director owned 11,995 shares of the company’s stock, valued at approximately $3,419,054.80. This represents a 17.25% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,803 shares of company stock valued at $16,938,949. 4.68% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AppFolio

Several institutional investors have recently modified their holdings of APPF. Kayne Anderson Rudnick Investment Management LLC grew its holdings in AppFolio by 84.4% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 773,579 shares of the software maker’s stock valued at $170,110,000 after purchasing an additional 354,061 shares during the period. William Blair Investment Management LLC grew its holdings in shares of AppFolio by 73.6% in the 2nd quarter. William Blair Investment Management LLC now owns 733,428 shares of the software maker’s stock valued at $168,894,000 after buying an additional 310,834 shares during the period. Geode Capital Management LLC grew its holdings in shares of AppFolio by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 438,522 shares of the software maker’s stock valued at $100,999,000 after buying an additional 1,458 shares during the period. Principal Financial Group Inc. grew its holdings in shares of AppFolio by 121.2% in the 1st quarter. Principal Financial Group Inc. now owns 401,888 shares of the software maker’s stock valued at $88,375,000 after buying an additional 220,239 shares during the period. Finally, Invesco Ltd. grew its stake in AppFolio by 1.9% in the first quarter. Invesco Ltd. now owns 347,125 shares of the software maker’s stock valued at $76,333,000 after acquiring an additional 6,528 shares during the period. 85.19% 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.