AppFolio (NASDAQ:APPF) Downgraded by KeyCorp to "Sector Weight"

AppFolio (NASDAQ:APPF - Get Free Report) was downgraded by equities research analysts at KeyCorp from an "overweight" rating to a "sector weight" rating in a note issued to investors on Friday, MarketBeat reports. They presently have a $253.00 target price on the software maker's stock. KeyCorp's price target points to a potential upside of 3.79% from the stock's previous close.

A number of other analysts also recently commented on the company. Keefe, Bruyette & Woods downgraded AppFolio from a "market perform" rating to an "underperform" rating and decreased their price target for the company from $255.00 to $193.00 in a research report on Tuesday, October 15th. Piper Sandler downgraded AppFolio from an "overweight" rating to a "neutral" rating and set a $265.00 price target for the company. in a research report on Monday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $261.88.

AppFolio Price Performance

Shares of AppFolio stock traded down $9.82 on Friday, hitting $243.77. 257,862 shares of the company's stock traded hands, compared to its average volume of 195,544. AppFolio has a one year low of $171.19 and a one year high of $274.56. The company has a fifty day moving average of $246.48 and a two-hundred day moving average of $235.46. The company has a market capitalization of $8.86 billion, a price-to-earnings ratio of 67.90 and a beta of 0.87.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share for the quarter, topping analysts' consensus estimates of $1.03 by $0.26. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The business had revenue of $206.00 million for the quarter, compared to the consensus estimate of $199.11 million. During the same period in the prior year, the business earned $0.26 EPS. The firm's revenue for the quarter was up 24.5% on a year-over-year basis. Equities research analysts anticipate that AppFolio will post 3.23 earnings per share for the current year.

Insider Transactions at AppFolio

In related news, CEO William Shane Trigg sold 4,145 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $263.32, for a total value of $1,091,461.40. Following the sale, the chief executive officer now owns 73,682 shares in the company, valued at approximately $19,401,944.24. This trade represents a 5.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Matthew S. Mazza sold 700 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $255.50, for a total value of $178,850.00. Following the completion of the sale, the insider now owns 27,566 shares in the company, valued at $7,043,113. This trade represents a 2.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,768 shares of company stock valued at $5,744,891 over the last three months. Company insiders own 5.24% of the company's stock.

Institutional Investors Weigh In On AppFolio

A number of institutional investors and hedge funds have recently made changes to their positions in APPF. Harbor Capital Advisors Inc. raised its position in AppFolio by 18.0% during the fourth quarter. Harbor Capital Advisors Inc. now owns 4,227 shares of the software maker's stock valued at $1,043,000 after purchasing an additional 646 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of AppFolio by 2.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,620 shares of the software maker's stock worth $1,558,000 after buying an additional 157 shares during the period. Westwind Capital increased its holdings in shares of AppFolio by 0.5% in the fourth quarter. Westwind Capital now owns 77,583 shares of the software maker's stock worth $19,141,000 after buying an additional 370 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of AppFolio by 3.3% in the third quarter. JPMorgan Chase & Co. now owns 161,278 shares of the software maker's stock worth $37,965,000 after buying an additional 5,077 shares during the period. Finally, Principal Financial Group Inc. increased its holdings 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 buying an additional 24,697 shares during the period. Hedge funds and other institutional investors own 85.19% of the company's stock.

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.