AppFolio (NASDAQ:APPF) Given New $300.00 Price Target at KeyCorp

AppFolio (NASDAQ:APPF) had its price target raised by KeyCorp from $275.00 to $300.00 in a research note released on Friday, Benzinga reports. They currently have an overweight rating on the software maker’s stock.

A number of other research firms also recently commented on APPF. Piper Sandler increased their target price on shares of AppFolio from $295.00 to $300.00 and gave the company an overweight rating in a research report on Friday. Stephens reaffirmed an overweight rating and set a $241.00 price objective on shares of AppFolio in a report on Friday, April 26th. DA Davidson boosted their target price on AppFolio from $285.00 to $300.00 and gave the company a buy rating in a report on Friday. Keefe, Bruyette & Woods upped their target price on AppFolio from $215.00 to $238.00 and gave the company a market perform rating in a research report on Friday, April 26th. Finally, Piper Sandler Companies reaffirmed an overweight rating and set a $300.00 price target on shares of AppFolio in a research report on Friday. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $277.75.

AppFolio Stock Performance

NASDAQ:APPF opened at $230.95 on Friday. AppFolio has a 1 year low of $164.29 and a 1 year high of $274.56. The stock has a market cap of $8.36 billion, a P/E ratio of 111.57 and a beta of 0.80. The stock has a 50-day simple moving average of $242.53 and a 200-day simple moving average of $231.56.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, July 25th. The software maker reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.16. The firm had revenue of $197.38 million during the quarter, compared to the consensus estimate of $190.57 million. AppFolio had a return on equity of 29.03% and a net margin of 17.32%. The firm’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.53) earnings per share. On average, equities research analysts predict that AppFolio will post 2.9 EPS for the current year.

Insider Activity

In related news, 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 transaction of $270,000.00. Following the completion of the sale, the insider now directly owns 403,000 shares of the company’s stock, valued at $108,810,000. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, major shareholder Klaus Schauser sold 1,000 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $270.00, for a total transaction of $270,000.00. Following the completion of the transaction, the insider now directly owns 403,000 shares of the company’s stock, valued at $108,810,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy K. Bliss sold 12,170 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $241.31, for a total transaction of $2,936,742.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 130,444 shares of company stock valued at $31,124,559. Company insiders own 9.15% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of APPF. Verdence Capital Advisors LLC boosted its position in shares of AppFolio by 2.7% during the 4th quarter. Verdence Capital Advisors LLC now owns 2,114 shares of the software maker’s stock worth $366,000 after purchasing an additional 55 shares in the last quarter. CWM LLC lifted its stake in shares of AppFolio by 238.6% in the second quarter. CWM LLC now owns 149 shares of the software maker’s stock valued at $36,000 after purchasing an additional 105 shares during the period. GAMMA Investing LLC boosted its holdings in AppFolio by 589.5% during the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after buying an additional 112 shares in the last quarter. Advisors Asset Management Inc. grew its position in AppFolio by 291.3% during the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock worth $44,000 after buying an additional 134 shares during the period. Finally, RiverPark Advisors LLC increased its holdings in AppFolio by 29.8% in the second quarter. RiverPark Advisors LLC now owns 867 shares of the software maker’s stock valued at $212,000 after buying an additional 199 shares in the last quarter. Institutional investors and hedge funds own 62.34% of the company’s stock.

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.