KeyCorp Raises AppFolio (NASDAQ:APPF) Price Target to $275.00

AppFolio (NASDAQ:APPF) had its target price hoisted by KeyCorp from $264.00 to $275.00 in a research note released on Friday morning, Benzinga reports. The firm currently has an overweight rating on the software maker’s stock.

A number of other equities research analysts have also recently commented on the company. Stephens reissued an overweight rating and issued a $241.00 price objective on shares of AppFolio in a research note on Friday, January 26th. JPMorgan Chase & Co. lifted their price target on shares of AppFolio from $228.00 to $237.00 and gave the company an overweight rating in a research report on Friday, January 26th. Finally, BTIG Research initiated coverage on shares of AppFolio in a research note on Friday, January 19th. They set a buy rating and a $215.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $241.00.

AppFolio Stock Down 1.9 %

AppFolio stock opened at $238.05 on Friday. The company has a market capitalization of $8.54 billion, a PE ratio of 115.00 and a beta of 0.80. AppFolio has a 12-month low of $133.83 and a 12-month high of $256.73. The firm’s fifty day moving average is $229.69 and its 200 day moving average is $205.61.

Insider Activity

In related news, Director Olivia Nottebohm sold 989 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $241.75, for a total transaction of $239,090.75. Following the sale, the director now owns 1,909 shares of the company’s stock, valued at approximately $461,500.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Olivia Nottebohm sold 989 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $241.75, for a total transaction of $239,090.75. Following the sale, the director now owns 1,909 shares of the company’s stock, valued at approximately $461,500.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Blottnitz Andreas Von sold 4,500 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $226.56, for a total transaction of $1,019,520.00. Following the completion of the sale, the director now owns 5,449 shares in the company, valued at $1,234,525.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,489 shares of company stock worth $3,531,011. 9.15% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AppFolio

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Arcadia Investment Management Corp MI grew its stake in AppFolio by 70.4% in the 3rd quarter. Arcadia Investment Management Corp MI now owns 138 shares of the software maker’s stock worth $25,000 after buying an additional 57 shares in the last quarter. Zeno Equity Partners LLP bought a new stake in shares of AppFolio during the 4th quarter worth $30,000. USA Financial Formulas purchased a new position in AppFolio in the fourth quarter worth $59,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in AppFolio in the fourth quarter valued at $64,000. Finally, Headlands Technologies LLC bought a new position in AppFolio in the fourth quarter valued at $85,000. 62.34% of the stock is owned by hedge funds and other institutional investors.

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.