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

AppFolio, Inc. (NASDAQ:APPF)’s share price 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 traded.

APPF has been the subject of several other research reports. BTIG Research assumed coverage on AppFolio in a research note on Friday, January 19th. They set a “buy” rating and a $215.00 price target on the stock. JPMorgan Chase & Co. upped their target price on AppFolio from $228.00 to $237.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Stephens restated an “overweight” rating and set a $241.00 price objective on shares of AppFolio in a research note on Friday, January 26th. Finally, KeyCorp upped their target price on AppFolio from $264.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, AppFolio presently has a consensus rating of “Moderate Buy” and a consensus target price of $241.00.

Insider Activity

In other AppFolio news, Director Blottnitz Andreas Von sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was 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 directly owns 5,449 shares in the company, valued at approximately $1,234,525.44. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Timothy K. Bliss sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $227.24, for a total transaction of $2,272,400.00. Following the completion of the sale, the director now directly owns 51,070 shares in the company, valued at $11,605,146.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Blottnitz Andreas Von sold 4,500 shares of AppFolio stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $226.56, for a total value of $1,019,520.00. Following the completion of the sale, the director now owns 5,449 shares in the company, valued at approximately $1,234,525.44. The disclosure for this sale can be found here. Insiders have sold 15,489 shares of company stock worth $3,531,011 in the last quarter. Corporate insiders own 9.15% of the company’s stock.

Institutional Trading of AppFolio

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in AppFolio by 3.8% in the fourth quarter. Vanguard Group Inc. now owns 2,078,661 shares of the software maker’s stock worth $360,107,000 after acquiring an additional 76,934 shares during the last quarter. Fred Alger Management LLC increased its holdings in shares of AppFolio by 12.2% in the 3rd quarter. Fred Alger Management LLC now owns 572,007 shares of the software maker’s stock valued at $104,466,000 after acquiring an additional 62,347 shares during the last quarter. Gilder Gagnon Howe & Co. LLC raised its position in shares of AppFolio by 3.8% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 421,309 shares of the software maker’s stock worth $72,988,000 after acquiring an additional 15,283 shares in the last quarter. Norges Bank purchased a new stake in shares of AppFolio during the 4th quarter worth approximately $38,458,000. Finally, Zeno Equity Partners LLP boosted its stake in AppFolio by 6.6% in the first quarter. Zeno Equity Partners LLP now owns 205,781 shares of the software maker’s stock valued at $50,774,000 after acquiring an additional 12,786 shares in the last quarter. 62.34% of the stock is currently owned by hedge funds and other institutional investors.

AppFolio Trading Up 12.0 %

The business has a 50 day moving average of $229.41 and a 200-day moving average of $204.69. The stock has a market cap of $8.71 billion, a PE ratio of 8,094.36 and a beta of 0.80.

AppFolio (NASDAQ:APPF) last announced its earnings results on Thursday, January 25th. The software maker reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.29. The business had revenue of $171.83 million for the quarter, compared to analysts’ expectations of $162.80 million. AppFolio had a net margin of 0.44% and a negative return on equity of 8.58%. Research analysts expect that AppFolio, Inc. will post 2.66 EPS for the current fiscal year.

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.