AppFolio (NASDAQ:APPF) Rating Lowered to Underperform at Keefe, Bruyette & Woods

AppFolio (NASDAQ:APPF) was downgraded by Keefe, Bruyette & Woods from a “market perform” rating to an “underperform” rating in a report issued on Tuesday, FinViz reports. They currently have a $193.00 price objective on the software maker’s stock, down from their prior price objective of $255.00. Keefe, Bruyette & Woods’ price target would suggest a potential downside of 14.80% from the company’s previous close.

APPF has been the subject of a number of other research reports. StockNews.com cut AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. increased their price objective on AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Piper Sandler raised their price objective on shares of AppFolio from $295.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. DA Davidson boosted their target price on shares of AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Piper Sandler Companies restated an “overweight” rating and set a $300.00 price target on shares of AppFolio in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $272.13.

AppFolio Stock Performance

AppFolio stock opened at $226.53 on Tuesday. AppFolio has a 52 week low of $164.29 and a 52 week high of $274.56. The firm has a market capitalization of $8.20 billion, a price-to-earnings ratio of 109.43 and a beta of 0.81. The company has a 50 day moving average price of $226.16 and a 200 day moving average price of $233.14.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Thursday, July 25th. The software maker reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.16. AppFolio had a net margin of 17.32% and a return on equity of 27.39%. The firm had revenue of $197.38 million for the quarter, compared to the consensus estimate of $190.57 million. During the same period in the previous year, the firm posted ($0.53) earnings per share. The firm’s revenue was up 34.2% on a year-over-year basis. Equities analysts forecast that AppFolio will post 3.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO William Shane Trigg sold 3,501 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $218.98, for a total transaction of $766,648.98. Following the completion of the sale, the chief executive officer now owns 81,699 shares in the company, valued at $17,890,447.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Matthew S. Mazza sold 2,371 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $221.22, for a total value of $524,512.62. Following the completion of the sale, the insider now owns 39,980 shares in the company, valued at approximately $8,844,375.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William Shane Trigg sold 3,501 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $218.98, for a total value of $766,648.98. Following the transaction, the chief executive officer now owns 81,699 shares in the company, valued at $17,890,447.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,941 shares of company stock worth $8,327,162 in the last quarter. 9.15% of the stock is currently owned by company insiders.

Institutional Trading of AppFolio

Several institutional investors have recently modified their holdings of APPF. GAMMA Investing LLC raised its stake in shares of AppFolio by 589.5% in the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock valued at $32,000 after purchasing an additional 112 shares in the last quarter. CWM LLC raised its stake in shares of AppFolio by 238.6% in the 2nd quarter. CWM LLC now owns 149 shares of the software maker’s stock valued at $36,000 after buying an additional 105 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of AppFolio by 291.3% during the 1st quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock worth $44,000 after acquiring an additional 134 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of AppFolio by 688.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock valued at $52,000 after acquiring an additional 186 shares in the last quarter. Finally, Quarry LP raised its position in AppFolio by 147.9% in the second quarter. Quarry LP now owns 238 shares of the software maker’s stock worth $58,000 after purchasing an additional 142 shares in the last quarter. Institutional investors and hedge funds own 62.34% of the company’s stock.

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.