Keefe, Bruyette & Woods Downgrades AppFolio (NASDAQ:APPF) to Underperform

Keefe, Bruyette & Woods downgraded shares of AppFolio (NASDAQ:APPF - Free Report) from a market perform rating to an underperform rating in a report issued on Tuesday morning, MarketBeat.com reports. The firm currently has $193.00 target price on the software maker's stock, down from their prior target price of $255.00.

A number of other equities research analysts have also commented on the company. KeyCorp increased their price target on AppFolio from $275.00 to $300.00 and gave the stock an overweight rating in a research report on Friday, July 26th. Piper Sandler Companies restated an overweight rating and issued a $300.00 target price on shares of AppFolio in a research note on Friday, July 26th. JPMorgan Chase & Co. upped their price target on shares of AppFolio from $260.00 to $328.00 and gave the stock an overweight rating in a research report on Wednesday, July 17th. DA Davidson raised their price objective on shares of AppFolio from $285.00 to $300.00 and gave the company a buy rating in a research report on Friday, July 26th. Finally, Piper Sandler boosted their price objective on shares of AppFolio from $295.00 to $300.00 and gave the stock an overweight rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, AppFolio currently has a consensus rating of Moderate Buy and an average target price of $272.13.

AppFolio Stock Performance

Shares of NASDAQ APPF traded down $24.56 during midday trading on Tuesday, reaching $201.97. 622,649 shares of the company traded hands, compared to its average volume of 277,718. AppFolio has a 12 month low of $164.29 and a 12 month high of $274.56. The stock's 50-day simple moving average is $226.04 and its 200-day simple moving average is $232.83. The firm has a market cap of $7.31 billion, a PE ratio of 97.57 and a beta of 0.81.

AppFolio (NASDAQ:APPF - Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The software maker reported $1.12 EPS for the quarter, beating analysts' consensus estimates of $0.96 by $0.16. The firm had revenue of $197.38 million for the quarter, compared to analyst estimates of $190.57 million. AppFolio had a net margin of 17.32% and a return on equity of 27.39%. The company's revenue for the quarter was up 34.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.53) earnings per share. On average, equities research analysts expect that AppFolio will post 3.04 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Maurice J. Duca sold 200 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $232.52, for a total value of $46,504.00. Following the sale, the insider now directly owns 27,568 shares in the company, valued at $6,410,111.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other AppFolio news, major shareholder Maurice J. Duca sold 200 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $232.52, for a total value of $46,504.00. Following the completion of the sale, the insider now directly owns 27,568 shares in the company, valued at $6,410,111.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Maurice J. Duca sold 1,296 shares of the firm's stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $236.77, for a total value of $306,853.92. Following the sale, the insider now directly owns 9,383 shares in the company, valued at approximately $2,221,612.91. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,941 shares of company stock valued at $8,327,162 over the last three months. Company insiders own 9.15% of the company's stock.

Institutional Trading of AppFolio

Several hedge funds and other institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. raised its position in AppFolio by 2,359.8% in the 1st quarter. Principal Financial Group Inc. now owns 151,646 shares of the software maker's stock valued at $37,417,000 after buying an additional 145,481 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in shares of AppFolio by 188.2% in the 2nd quarter. Squarepoint Ops LLC now owns 185,034 shares of the software maker's stock valued at $45,254,000 after buying an additional 120,835 shares during the last quarter. Westwind Capital increased its stake in shares of AppFolio by 301.0% during the 2nd quarter. Westwind Capital now owns 149,240 shares of the software maker's stock worth $3,650,000 after purchasing an additional 112,024 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of AppFolio in the 4th quarter valued at about $18,636,000. Finally, Los Angeles Capital Management LLC lifted its stake in AppFolio by 516.6% in the 2nd quarter. Los Angeles Capital Management LLC now owns 109,850 shares of the software maker's stock valued at $26,866,000 after purchasing an additional 92,034 shares during the last quarter. Institutional investors and hedge funds own 62.34% of the company's stock.

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.