AppFolio (NASDAQ:APPF) Shares Gap Up Following Analyst Upgrade

AppFolio, Inc. (NASDAQ:APPF - Get Free Report) gapped up prior to trading on Friday after Keefe, Bruyette & Woods raised their price target on the stock from $215.00 to $238.00. The stock had previously closed at $216.65, but opened at $243.90. Keefe, Bruyette & Woods currently has a market perform rating on the stock. AppFolio shares last traded at $248.44, with a volume of 126,173 shares.

A number of other brokerages also recently issued reports on APPF. Stephens reiterated an "overweight" rating and set a $241.00 price target on shares of AppFolio in a research report on Friday, January 26th. BTIG Research initiated coverage on AppFolio in a research report on Friday, January 19th. They set a "buy" rating and a $215.00 price target for the company. JPMorgan Chase & Co. lifted their price target on AppFolio from $228.00 to $237.00 and gave the company an "overweight" rating in a research report on Friday, January 26th. Finally, KeyCorp lifted their price target on AppFolio from $264.00 to $275.00 and gave the company an "overweight" rating in a research report on Friday. 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 data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $241.00.

Insider Activity at AppFolio

In other AppFolio news, Director Blottnitz Andreas Von sold 4,500 shares of AppFolio stock in a transaction that occurred 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 Securities & Exchange Commission, which is available through the SEC website. In other AppFolio news, Director Blottnitz Andreas Von sold 4,500 shares of AppFolio stock in a transaction that occurred 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 Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy K. Bliss sold 10,000 shares of AppFolio stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $227.24, for a total value of $2,272,400.00. Following the completion of the transaction, the director now directly owns 51,070 shares in the company, valued at $11,605,146.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,489 shares of company stock valued at $3,531,011. Corporate insiders own 9.15% of the company's stock.

Institutional Investors Weigh In On AppFolio

A number of large investors have recently made changes to their positions in the business. Yousif Capital Management LLC bought a new stake in shares of AppFolio in the 1st quarter worth approximately $2,315,000. Verdence Capital Advisors LLC boosted its position in shares of AppFolio by 10.7% during the first quarter. Verdence Capital Advisors LLC now owns 2,341 shares of the software maker's stock valued at $578,000 after purchasing an additional 227 shares in the last quarter. New York State Teachers Retirement System bought a new stake in shares of AppFolio during the first quarter valued at approximately $784,000. WCM Investment Management LLC boosted its position in shares of AppFolio by 15.4% during the first quarter. WCM Investment Management LLC now owns 86,247 shares of the software maker's stock valued at $21,281,000 after purchasing an additional 11,515 shares in the last quarter. Finally, HMS Capital Management LLC bought a new stake in shares of AppFolio during the first quarter valued at approximately $392,000. 62.34% of the stock is currently owned by institutional investors.

AppFolio Stock Up 12.0 %

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 has a 50-day moving average of $229.41 and a two-hundred day moving average of $204.69.

AppFolio (NASDAQ:APPF - Get Free Report) last released its earnings results on Thursday, January 25th. The software maker reported $0.61 EPS for the quarter, topping the consensus estimate of $0.32 by $0.29. AppFolio had a negative return on equity of 8.58% and a net margin of 0.44%. The business 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, Inc. will post 2.66 EPS 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.