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

AppFolio (NASDAQ:APPF - Get Free Report) had its price target raised by stock analysts at Keefe, Bruyette & Woods from $215.00 to $238.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a "market perform" rating on the software maker's stock. Keefe, Bruyette & Woods' target price would indicate a potential downside of 1.96% from the company's current price.

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

AppFolio Price Performance

NASDAQ:APPF traded up $26.10 during mid-day trading on Friday, hitting $242.75. 714,917 shares of the company's stock were exchanged, compared to its average volume of 313,877. AppFolio has a one year low of $123.36 and a one year high of $256.73. The business has a fifty day moving average price of $229.41 and a 200 day moving average price of $204.69. The company has a market cap of $8.71 billion, a PE ratio of 8,094.36 and a beta of 0.80.

AppFolio (NASDAQ:APPF - Get Free Report) last issued its quarterly earnings results on Thursday, January 25th. The software maker reported $0.61 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.29. AppFolio had a negative return on equity of 8.58% and a net margin of 0.44%. The firm had revenue of $171.83 million for the quarter, compared to analysts' expectations of $162.80 million. On average, equities analysts forecast that AppFolio will post 2.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Blottnitz Andreas Von sold 4,500 shares of the company'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 completion of the sale, the director now owns 5,449 shares of the company's stock, valued at approximately $1,234,525.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Blottnitz Andreas Von sold 4,500 shares of the firm's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $226.56, for a total value of $1,019,520.00. Following the transaction, the director now directly owns 5,449 shares of the company's stock, valued at approximately $1,234,525.44. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Olivia Nottebohm sold 989 shares of AppFolio stock in a transaction on Friday, March 1st. The shares were sold at an average price of $241.75, for a total value of $239,090.75. Following the transaction, the director now owns 1,909 shares in the company, valued at $461,500.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,489 shares of company stock valued at $3,531,011. Insiders own 9.15% of the company's stock.

Hedge Funds Weigh In On AppFolio

Several large investors have recently added to or reduced their stakes in APPF. Allspring Global Investments Holdings LLC grew its position in shares of AppFolio by 497.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 43,552 shares of the software maker's stock worth $7,545,000 after purchasing an additional 36,265 shares in the last quarter. WCM Investment Management LLC bought a new stake in shares of AppFolio during the fourth quarter valued at approximately $12,941,000. Long Walk Management LP lifted its holdings in shares of AppFolio by 62.7% in the fourth quarter. Long Walk Management LP now owns 122,000 shares of the software maker's stock worth $21,135,000 after buying an additional 47,000 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of AppFolio by 103.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 34,881 shares of the software maker's stock worth $6,043,000 after acquiring an additional 17,706 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in AppFolio by 2.4% during the third quarter. Vanguard Group Inc. now owns 2,001,727 shares of the software maker's stock valued at $365,575,000 after acquiring an additional 46,827 shares in the last quarter. Hedge funds and other institutional investors 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.