KeyCorp Boosts AppFolio (NASDAQ:APPF) Price Target to $300.00

AppFolio (NASDAQ:APPF) had its price objective raised by KeyCorp from $275.00 to $300.00 in a research note issued to investors on Friday, Benzinga reports. They currently have an overweight rating on the software maker’s stock.

APPF has been the subject of several other reports. Piper Sandler Companies reiterated an overweight rating and set a $300.00 target price on shares of AppFolio in a research note on Friday. Piper Sandler upped their price objective on shares of AppFolio from $295.00 to $300.00 and gave the company an overweight rating in a report on Friday. Stephens reissued an overweight rating and issued a $241.00 price objective on shares of AppFolio in a research report on Friday, April 26th. DA Davidson lifted their target price on shares of AppFolio from $285.00 to $300.00 and gave the stock a buy rating in a report on Friday. Finally, Keefe, Bruyette & Woods upped their price target on shares of AppFolio from $215.00 to $238.00 and gave the company a market perform rating in a research note on Friday, April 26th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $277.75.

AppFolio Price Performance

Shares of APPF opened at $230.95 on Friday. The company has a market cap of $8.36 billion, a PE ratio of 111.57 and a beta of 0.80. The firm has a 50-day moving average of $242.53 and a 200-day moving average of $231.56. AppFolio has a one year low of $164.29 and a one year high of $274.56.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, July 25th. The software maker reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.16. The business had revenue of $197.38 million during the quarter, compared to the consensus estimate of $190.57 million. AppFolio had a net margin of 17.32% and a return on equity of 29.03%. AppFolio’s revenue was up 34.2% on a year-over-year basis. During the same period last year, the business posted ($0.53) EPS. Analysts expect that AppFolio will post 2.9 earnings per share for the current year.

Insiders Place Their Bets

In other AppFolio news, major shareholder Maurice J. Duca sold 876 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $252.82, for a total value of $221,470.32. Following the completion of the sale, the insider now owns 7,100 shares of the company’s stock, valued at approximately $1,795,022. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Alexander Wolf sold 10,000 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $250.26, for a total value of $2,502,600.00. Following the transaction, the director now owns 182,584 shares in the company, valued at $45,693,471.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Maurice J. Duca sold 876 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $252.82, for a total value of $221,470.32. Following the completion of the transaction, the insider now directly owns 7,100 shares of the company’s stock, valued at approximately $1,795,022. The disclosure for this sale can be found here. Insiders sold 130,444 shares of company stock worth $31,124,559 in the last quarter. 9.15% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AppFolio

Hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its position in shares of AppFolio by 103.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 34,881 shares of the software maker’s stock worth $6,043,000 after acquiring an additional 17,706 shares in the last quarter. AMI Asset Management Corp acquired a new stake in shares of AppFolio in the 4th quarter valued at $966,000. Meeder Asset Management Inc. bought a new position in shares of AppFolio in the 4th quarter valued at $85,000. Allspring Global Investments Holdings LLC raised its holdings in shares of AppFolio by 497.7% during the 4th 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 in the last quarter. Finally, Long Walk Management LP lifted its position in shares of AppFolio by 62.7% during the 4th quarter. Long Walk Management LP now owns 122,000 shares of the software maker’s stock worth $21,135,000 after buying an additional 47,000 shares during the last quarter. 62.34% 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.