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

AppFolio, Inc. (NASDAQ:APPF - Get Free Report) 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 trading hands.

Several other research firms have also weighed in on APPF. William Blair reissued an "outperform" rating on shares of AppFolio in a research note on Friday, January 31st. KeyCorp downgraded AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 price objective on the stock. in a report on Friday, January 10th. Piper Sandler reiterated a "neutral" rating and issued a $265.00 target price on shares of AppFolio in a report on Wednesday, April 23rd. Stephens restated an "overweight" rating and set a $295.00 price target on shares of AppFolio in a report on Friday, January 31st. Finally, DA Davidson decreased their price objective on shares of AppFolio from $300.00 to $275.00 and set a "buy" rating for the company in a research note on Monday, April 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $274.43.

Insider Transactions at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 3,501 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $217.27, for a total value of $760,662.27. Following the sale, the chief executive officer now owns 83,824 shares in the company, valued at $18,212,440.48. This represents a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Alexander Wolf bought 9,678 shares of AppFolio stock in a transaction dated Thursday, February 13th. The stock was acquired at an average cost of $214.81 per share, with a total value of $2,078,931.18. Following the transaction, the director now owns 3,226 shares of the company's stock, valued at $692,977.06. This trade represents a -150.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 5.24% of the company's stock.

Institutional Trading of AppFolio

Hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC increased its position in AppFolio by 20.5% in the 3rd quarter. Barclays PLC now owns 9,888 shares of the software maker's stock valued at $2,327,000 after acquiring an additional 1,681 shares during the period. Franklin Resources Inc. grew its position in shares of AppFolio by 31.2% in the 3rd quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker's stock valued at $51,800,000 after buying an additional 54,386 shares during the last quarter. Retirement Systems of Alabama increased its stake in shares of AppFolio by 7.9% in the third quarter. Retirement Systems of Alabama now owns 27,950 shares of the software maker's stock valued at $6,579,000 after buying an additional 2,047 shares during the period. Lord Abbett & CO. LLC raised its position in shares of AppFolio by 82.2% during the third quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker's stock worth $108,116,000 after acquiring an additional 207,204 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of AppFolio by 16.1% in the third quarter. Principal Financial Group Inc. now owns 177,831 shares of the software maker's stock worth $41,861,000 after acquiring an additional 24,697 shares during the period. Institutional investors and hedge funds own 85.19% of the company's stock.

AppFolio Price Performance

The firm has a market capitalization of $7.42 billion, a P/E ratio of 36.71 and a beta of 0.86. The company has a fifty day moving average of $217.79 and a 200 day moving average of $230.80.

AppFolio (NASDAQ:APPF - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The software maker reported $1.21 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.02). AppFolio had a net margin of 25.69% and a return on equity of 26.21%. The firm had revenue of $217.70 million for the quarter, compared to the consensus estimate of $220.95 million. During the same quarter in the prior year, the firm earned $1.05 EPS. The company's revenue was up 15.9% compared to the same quarter last year. On average, sell-side analysts forecast that AppFolio, Inc. will post 3.96 EPS for the current 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.