AppFolio (NASDAQ:APPF) Shares Gap Down Following Analyst Downgrade

AppFolio, Inc. (NASDAQ:APPF) shares gapped down before the market opened on Friday after Keefe, Bruyette & Woods lowered their price target on the stock from $210.00 to $205.00. The stock had previously closed at $234.65, but opened at $208.26. Keefe, Bruyette & Woods currently has an underweight rating on the stock. AppFolio shares last traded at $205.51, with a volume of 249,961 shares.

Several other research analysts have also recently weighed in on APPF. Stephens restated an “overweight” rating and set a $295.00 price target on shares of AppFolio in a report on Friday, January 31st. William Blair reaffirmed an “outperform” rating on shares of AppFolio in a report on Friday, January 31st. Piper Sandler reiterated a “neutral” rating and set a $265.00 price target on shares of AppFolio in a report on Wednesday. KeyCorp downgraded AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price objective for the company. in a research note on Friday, January 10th. Finally, DA Davidson lowered their target price on AppFolio from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, AppFolio has an average rating of “Hold” and a consensus price target of $274.43.

Insider Buying and Selling at AppFolio

In other news, Director Alexander Wolf acquired 9,678 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were acquired at an average cost of $214.81 per share, for a total transaction of $2,078,931.18. Following the purchase, the director now owns 3,226 shares of the company’s stock, valued at approximately $692,977.06. The trade was a -150.00 % increase in their position. 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 company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $217.27, for a total transaction of $760,662.27. Following the sale, the chief executive officer now directly owns 83,824 shares in the company, valued at approximately $18,212,440.48. This trade represents a 4.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.24% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Colonial Trust Co SC bought a new position in shares of AppFolio in the fourth quarter worth $28,000. UMB Bank n.a. lifted its holdings in AppFolio by 193.0% during the 4th quarter. UMB Bank n.a. now owns 167 shares of the software maker’s stock worth $41,000 after purchasing an additional 110 shares in the last quarter. Fifth Third Bancorp boosted its stake in AppFolio by 53.0% in the 1st quarter. Fifth Third Bancorp now owns 179 shares of the software maker’s stock worth $39,000 after purchasing an additional 62 shares during the period. Arcadia Investment Management Corp MI purchased a new position in AppFolio during the 4th quarter valued at about $50,000. Finally, Versant Capital Management Inc increased its position in shares of AppFolio by 4,975.0% during the first quarter. Versant Capital Management Inc now owns 203 shares of the software maker’s stock valued at $45,000 after buying an additional 199 shares during the period. 85.19% of the stock is currently owned by hedge funds and other institutional investors.

AppFolio Price Performance

The business’s fifty day moving average price is $218.06 and its 200-day moving average price is $230.91. The stock has a market capitalization of $6.99 billion, a PE ratio of 34.60 and a beta of 0.86.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, January 30th. The software maker reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.34). AppFolio had a return on equity of 26.21% and a net margin of 25.69%. On average, analysts expect that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

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.