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

AppFolio, Inc. (NASDAQ:APPF) shares gapped up before the market opened 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 topic of a number of other reports. BTIG Research started coverage on shares of AppFolio in a research note on Friday, January 19th. They issued a “buy” rating and a $215.00 price objective on the stock. KeyCorp upped their price objective on shares of AppFolio from $264.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday. Stephens reiterated an “overweight” rating and set a $241.00 target price on shares of AppFolio in a research report on Friday, January 26th. Finally, JPMorgan Chase & Co. boosted their target price on shares of 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 issued a buy rating to the stock. According to data from MarketBeat, AppFolio currently has a consensus rating of “Moderate Buy” and a consensus target price of $241.00.

Insider Activity at AppFolio

In other AppFolio news, Director Olivia Nottebohm sold 989 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $241.75, for a total transaction of $239,090.75. Following the transaction, the director now owns 1,909 shares in the company, valued at $461,500.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other AppFolio news, Director Olivia Nottebohm sold 989 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $241.75, for a total transaction of $239,090.75. Following the transaction, the director now owns 1,909 shares in the company, valued at $461,500.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Timothy K. Bliss sold 10,000 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $227.24, for a total transaction of $2,272,400.00. Following the transaction, the director now owns 51,070 shares in the company, valued at approximately $11,605,146.80. 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. Company insiders own 9.15% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC raised its holdings in 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 buying an additional 36,265 shares during the last quarter. WCM Investment Management LLC purchased a new stake in shares of AppFolio in the fourth quarter valued at about $12,941,000. Long Walk Management LP raised 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 valued at $21,135,000 after purchasing an additional 47,000 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of AppFolio by 103.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 34,881 shares of the software maker’s stock valued at $6,043,000 after purchasing an additional 17,706 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of AppFolio by 2.4% in the third quarter. Vanguard Group Inc. now owns 2,001,727 shares of the software maker’s stock valued at $365,575,000 after purchasing an additional 46,827 shares during the last quarter. Institutional investors and hedge funds own 62.34% of the company’s stock.

AppFolio Price Performance

The company’s fifty day moving average price is $229.59 and its 200 day moving average price is $205.11. The company has a market cap of $8.71 billion, a PE ratio of 117.27 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 the consensus estimate of $0.32 by $0.29. The company had revenue of $171.83 million during the quarter, compared to the consensus estimate of $162.80 million. AppFolio had a net margin of 11.38% and a return on equity of 14.51%. On average, analysts forecast that AppFolio, Inc. will post 2.66 EPS for the current 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.