Keefe, Bruyette & Woods Lowers AppFolio (NASDAQ:APPF) Price Target to $205.00

AppFolio (NASDAQ:APPF - Get Free Report) had its price target dropped by investment analysts at Keefe, Bruyette & Woods from $210.00 to $205.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an "underweight" rating on the software maker's stock. Keefe, Bruyette & Woods' price objective would suggest a potential downside of 0.74% from the stock's previous close.

Several other research firms have also weighed in on APPF. William Blair reissued an "outperform" rating on shares of AppFolio in a report on Friday, January 31st. Piper Sandler reaffirmed a "neutral" rating and issued a $265.00 price target on shares of AppFolio in a report on Wednesday, April 23rd. DA Davidson dropped their price objective on shares of AppFolio from $300.00 to $275.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Stephens reiterated an "overweight" rating and set a $295.00 target price on shares of AppFolio in a report on Friday, January 31st. Finally, KeyCorp downgraded AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 price objective on the stock. in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $274.43.

AppFolio Stock Performance

AppFolio stock traded up $2.80 during midday trading on Friday, reaching $206.52. The company's stock had a trading volume of 452,098 shares, compared to its average volume of 332,436. AppFolio has a fifty-two week low of $189.01 and a fifty-two week high of $274.56. The firm has a market capitalization of $7.52 billion, a PE ratio of 37.21 and a beta of 0.86. The stock's 50 day simple moving average is $217.54 and its 200 day simple moving average is $230.61.

AppFolio (NASDAQ:APPF - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The software maker reported $1.21 EPS for the quarter, missing analysts' consensus estimates of $1.23 by ($0.02). AppFolio had a return on equity of 26.21% and a net margin of 25.69%. The company had revenue of $217.70 million for the quarter, compared to analysts' expectations of $220.95 million. During the same period in the prior year, the firm posted $1.05 EPS. The firm's quarterly revenue was up 15.9% on a year-over-year basis. Equities analysts predict that AppFolio will post 3.96 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO William Shane Trigg sold 3,501 shares of AppFolio stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $217.27, for a total value of $760,662.27. Following the transaction, the chief executive officer now owns 83,824 shares in the company, valued at approximately $18,212,440.48. This trade represents a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alexander Wolf purchased 9,678 shares of the company's stock in a transaction on Thursday, February 13th. The shares were purchased at an average price of $214.81 per share, with a total value of $2,078,931.18. Following the completion of the purchase, the director now directly owns 3,226 shares of the company's stock, valued at $692,977.06. The trade was a -150.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 5.24% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Stifel Financial Corp raised its stake in shares of AppFolio by 45.0% in the 3rd quarter. Stifel Financial Corp now owns 1,853 shares of the software maker's stock valued at $436,000 after acquiring an additional 575 shares during the period. Barclays PLC increased its holdings in AppFolio by 20.5% in the 3rd quarter. Barclays PLC now owns 9,888 shares of the software maker's stock valued at $2,327,000 after purchasing an additional 1,681 shares in the last quarter. Franklin Resources Inc. raised its position in AppFolio by 31.2% in the third quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker's stock valued at $51,800,000 after purchasing an additional 54,386 shares during the period. Retirement Systems of Alabama lifted its stake in shares of AppFolio by 7.9% during the third quarter. Retirement Systems of Alabama now owns 27,950 shares of the software maker's stock worth $6,579,000 after purchasing an additional 2,047 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its position in shares of AppFolio by 82.2% in the third quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker's stock worth $108,116,000 after buying an additional 207,204 shares during the period. 85.19% of the stock is owned by institutional investors and hedge funds.

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.