AppFolio (NASDAQ:APPF) Price Target Raised to $238.00 at Keefe, Bruyette & Woods

AppFolio (NASDAQ:APPF) had its target price increased by Keefe, Bruyette & Woods from $215.00 to $238.00 in a report published on Friday, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the software maker’s stock.

Several other brokerages also recently issued reports on APPF. BTIG Research initiated coverage on shares of AppFolio in a research report on Friday, January 19th. They set a buy rating and a $215.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on shares of AppFolio from $228.00 to $237.00 and gave the stock an overweight rating in a research report on Friday, January 26th. KeyCorp raised their price objective on shares of AppFolio from $264.00 to $275.00 and gave the stock an overweight rating in a research report on Friday. Finally, Stephens reaffirmed an overweight rating and issued a $241.00 target price on shares of AppFolio in a report on Friday, January 26th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, AppFolio currently has an average rating of Moderate Buy and an average target price of $241.00.

AppFolio Stock Performance

Shares of AppFolio stock opened at $242.75 on Friday. AppFolio has a 1 year low of $123.36 and a 1 year high of $256.73. The company has a market capitalization of $8.71 billion, a P/E ratio of 8,094.36 and a beta of 0.80. The company’s fifty day moving average is $229.41 and its two-hundred day moving average is $204.69.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Thursday, January 25th. The software maker reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.29. AppFolio had a net margin of 0.44% and a negative return on equity of 8.58%. The company had revenue of $171.83 million for the quarter, compared to the consensus estimate of $162.80 million. As a group, equities analysts expect that AppFolio will post 2.66 earnings per share for the current year.

Insider Activity

In other news, Director Olivia Nottebohm sold 989 shares of AppFolio stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $241.75, for a total value of $239,090.75. Following the sale, the director now owns 1,909 shares of the company’s stock, valued at $461,500.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Blottnitz Andreas Von sold 4,500 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $226.56, for a total transaction of $1,019,520.00. Following the sale, the director now owns 5,449 shares of the company’s stock, valued at $1,234,525.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Olivia Nottebohm sold 989 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $241.75, for a total transaction of $239,090.75. Following the sale, the director now directly owns 1,909 shares in the company, valued at approximately $461,500.75. The disclosure for this sale can be found here. Insiders have sold a total of 15,489 shares of company stock valued at $3,531,011 over the last quarter. Corporate insiders own 9.15% of the company’s stock.

Institutional Trading of AppFolio

A number of institutional investors have recently added to or reduced their stakes in APPF. SG Americas Securities LLC purchased a new stake in AppFolio during the third quarter worth about $531,000. Harbor Capital Advisors Inc. boosted its holdings in AppFolio by 10.3% during the third quarter. Harbor Capital Advisors Inc. now owns 3,575 shares of the software maker’s stock worth $653,000 after buying an additional 334 shares in the last quarter. Cavalier Investments LLC raised its position in AppFolio by 3.8% during the third quarter. Cavalier Investments LLC now owns 9,678 shares of the software maker’s stock worth $1,767,000 after acquiring an additional 350 shares during the last quarter. Arcadia Investment Management Corp MI raised its position 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 acquiring an additional 57 shares during the last quarter. Finally, Verdence Capital Advisors LLC raised its position in AppFolio by 7.2% during the third quarter. Verdence Capital Advisors LLC now owns 2,059 shares of the software maker’s stock worth $376,000 after acquiring an additional 139 shares during the last quarter. Hedge funds and other institutional investors own 62.34% 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.