AppFolio (NASDAQ:APPF) Trading 3.5% Higher After Analyst Upgrade

Key Points

• AppFolio's stock increased by 3.5% following an upgrade from KeyCorp, which raised its rating from "sector weight" to "overweight" with a price target of $285.00.
• Other analysts, including Piper Sandler and DA Davidson, have also expressed positive sentiment, with target prices reaching as high as $350.00.
• Insider transactions include the sale of 6,500 shares by executives, indicating potential profit-taking as insiders have sold shares totaling nearly $17 million in the last 90 days.

AppFolio, Inc. (NASDAQ:APPF - Get Free Report) shares rose 3.5% during trading on Friday after KeyCorp upgraded the stock from a sector weight rating to an overweight rating. KeyCorp now has a $285.00 price target on the stock. AppFolio traded as high as $234.13 and last traded at $231.12. Approximately 62,188 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 304,357 shares. The stock had previously closed at $223.31.

A number of other equities analysts have also recently commented on APPF. Piper Sandler raised AppFolio from a "neutral" rating to an "overweight" rating and increased their target price for the company from $240.00 to $350.00 in a report on Friday, August 1st. DA Davidson reissued a "buy" rating and set a $350.00 target price on shares of AppFolio in a report on Friday, August 1st. Keefe, Bruyette & Woods increased their price target on AppFolio from $295.00 to $311.00 and gave the company a "market perform" rating in a report on Wednesday, September 3rd. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of AppFolio in a report on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $318.20.

Insider Activity at AppFolio

In other AppFolio news, Director Janet Kerr sold 2,500 shares of the firm's stock in a transaction 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 completion of the sale, the director owned 11,995 shares of the company's stock, valued at $3,419,054.80. This trade represents a 17.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William Shane Trigg sold 4,000 shares of AppFolio stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $276.95, for a total value of $1,107,800.00. Following the completion of the sale, the chief executive officer directly owned 59,556 shares of the company's stock, valued at $16,494,034.20. The trade was a 6.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 58,803 shares of company stock valued at $16,938,949 over the last 90 days. Corporate insiders own 4.68% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Burney Co. boosted its stake in shares of AppFolio by 3.7% in the 3rd quarter. Burney Co. now owns 7,997 shares of the software maker's stock valued at $2,204,000 after buying an additional 288 shares during the period. Highland Capital Management LLC purchased a new position in AppFolio in the third quarter worth approximately $1,435,000. Blue Trust Inc. lifted its stake in AppFolio by 88.3% in the third quarter. Blue Trust Inc. now owns 482 shares of the software maker's stock worth $133,000 after acquiring an additional 226 shares during the last quarter. CWM LLC grew its holdings in AppFolio by 62.9% during the 3rd quarter. CWM LLC now owns 1,158 shares of the software maker's stock worth $319,000 after acquiring an additional 447 shares in the last quarter. Finally, Pacer Advisors Inc. purchased a new stake in shares of AppFolio in the 3rd quarter valued at approximately $835,000. 85.19% of the stock is owned by institutional investors and hedge funds.

AppFolio Trading Up 3.8%

The stock's fifty day moving average price is $266.95 and its two-hundred day moving average price is $243.03. The firm has a market capitalization of $8.31 billion, a price-to-earnings ratio of 41.78 and a beta of 0.83.

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

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.

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