AppFolio (NASDAQ:APPF) Cut to “Sector Weight” at KeyCorp

AppFolio (NASDAQ:APPF) was downgraded by equities researchers at KeyCorp from an “overweight” rating to a “sector weight” rating in a note issued to investors on Friday,Briefing.com Automated Import reports.

Other equities analysts also recently issued reports about the company. Piper Sandler downgraded AppFolio from an “overweight” rating to a “neutral” rating and set a $265.00 target price for the company. in a research note on Monday. Keefe, Bruyette & Woods lowered AppFolio from a “market perform” rating to an “underperform” rating and reduced their price objective for the company from $255.00 to $193.00 in a research report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $261.75.

AppFolio Stock Up 1.6 %

Shares of NASDAQ APPF opened at $253.59 on Friday. The stock has a market capitalization of $9.21 billion, a P/E ratio of 70.64 and a beta of 0.87. The stock’s 50 day moving average price is $246.48 and its two-hundred day moving average price is $235.46. AppFolio has a 52-week low of $165.93 and a 52-week high of $274.56.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.26. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The firm had revenue of $206.00 million for the quarter, compared to analysts’ expectations of $199.11 million. During the same period last year, the business posted $0.26 earnings per share. The firm’s revenue for the quarter was up 24.5% on a year-over-year basis. On average, analysts anticipate that AppFolio will post 3.23 EPS for the current year.

Insider Buying and Selling

In other news, CEO William Shane Trigg sold 3,500 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $229.85, for a total value of $804,475.00. Following the sale, the chief executive officer now owns 74,327 shares of the company’s stock, valued at approximately $17,084,060.95. The trade was a 4.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Matthew S. Mazza sold 700 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $255.50, for a total value of $178,850.00. Following the transaction, the insider now directly owns 27,566 shares of the company’s stock, valued at $7,043,113. This represents a 2.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,768 shares of company stock valued at $5,744,891 in the last three months. 5.24% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AppFolio

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Summit Global Investments acquired a new stake in shares of AppFolio in the third quarter worth $759,000. JPMorgan Chase & Co. grew its holdings in AppFolio by 3.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 161,278 shares of the software maker’s stock valued at $37,965,000 after buying an additional 5,077 shares during the last quarter. Captrust Financial Advisors boosted its position in shares of AppFolio by 183.3% in the third quarter. Captrust Financial Advisors now owns 4,374 shares of the software maker’s stock valued at $1,030,000 after acquiring an additional 2,830 shares during the period. Baker Avenue Asset Management LP increased its stake in AppFolio by 16.5% during the third quarter. Baker Avenue Asset Management LP now owns 21,483 shares of the software maker’s stock valued at $5,057,000 after acquiring an additional 3,038 shares during the period. Finally, Advisors Asset Management Inc. grew its holdings in shares of AppFolio by 56.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 390 shares of the software maker’s stock worth $92,000 after purchasing an additional 141 shares in the last quarter. 85.19% of the stock is owned by institutional investors and hedge funds.

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.