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

KeyCorp lowered shares of AppFolio (NASDAQ:APPF) from an overweight rating to a sector weight rating in a research report sent to investors on Friday morning, MarketBeat reports. KeyCorp currently has $253.00 price objective on the software maker’s stock.

APPF has been the subject of several other research reports. Piper Sandler downgraded shares of AppFolio from an “overweight” rating to a “neutral” rating and set a $265.00 target price for the company. in a report on Monday, January 6th. Keefe, Bruyette & Woods downgraded AppFolio from a “market perform” rating to an “underperform” rating and lowered their price objective for the company from $255.00 to $193.00 in a research report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $261.88.

AppFolio Stock Down 3.9 %

NASDAQ APPF opened at $243.77 on Friday. AppFolio has a 52 week low of $171.19 and a 52 week high of $274.56. The firm has a market capitalization of $8.86 billion, a P/E ratio of 67.90 and a beta of 0.87. The company has a 50-day moving average price of $246.48 and a 200-day moving average price of $235.46.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 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 the consensus estimate of $199.11 million. During the same quarter last year, the company earned $0.26 earnings per share. The business’s revenue for the quarter was up 24.5% compared to the same quarter last year. As a group, equities research analysts anticipate that AppFolio will post 3.23 EPS for the current year.

Insider Transactions at AppFolio

In related news, insider Matthew S. Mazza sold 926 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $229.04, for a total value of $212,091.04. Following the sale, the insider now owns 33,819 shares in the company, valued at approximately $7,745,903.76. The trade was a 2.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Maurice J. Duca sold 2,510 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $229.21, for a total transaction of $575,317.10. Following the transaction, the insider now owns 2,459 shares of the company’s stock, valued at $563,627.39. This trade represents a 50.51 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,768 shares of company stock valued at $5,744,891. 5.24% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AppFolio

Large investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its holdings in shares of AppFolio by 85.7% in the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock worth $29,000 after purchasing an additional 54 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in AppFolio by 688.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock worth $52,000 after buying an additional 186 shares during the last quarter. Quarry LP boosted its stake in AppFolio by 147.9% during the second quarter. Quarry LP now owns 238 shares of the software maker’s stock worth $58,000 after buying an additional 142 shares during the period. True Wealth Design LLC bought a new position in AppFolio during the third quarter valued at $79,000. Finally, Advisors Asset Management Inc. raised its stake in shares of AppFolio by 56.6% in the third quarter. Advisors Asset Management Inc. now owns 390 shares of the software maker’s stock valued at $92,000 after acquiring an additional 141 shares during the period. 85.19% of the stock is owned by institutional investors.

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.