AppFolio, Inc. (NASDAQ:APPF)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $43.50 and last traded at $43.50, with a volume of 107,423 shares changing hands. The stock had previously closed at $43.05.

Several equities analysts have weighed in on APPF shares. Zacks Investment Research raised AppFolio from a “hold” rating to a “strong-buy” rating and set a $32.00 price objective for the company in a report on Thursday, May 11th. Morgan Stanley lifted their price objective on AppFolio to $33.00 and gave the company an “equal weight” rating in a report on Thursday, July 20th. BidaskClub raised AppFolio from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 21st. Credit Suisse Group reissued a “neutral” rating and set a $35.00 price target (up previously from $27.00) on shares of AppFolio in a report on Tuesday, August 8th. Finally, KeyCorp reissued a “buy” rating on shares of AppFolio in a report on Friday, August 11th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $38.33.

The firm has a market capitalization of $1.48 billion, a P/E ratio of 1404.84 and a beta of 0.73. The company has a 50-day moving average price of $38.04 and a 200-day moving average price of $30.57.

In other news, major shareholder Marc Stad sold 400,000 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $30.00, for a total transaction of $12,000,000.00. Following the transaction, the insider now directly owns 25,780 shares of the company’s stock, valued at $773,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William E. Oberndorf sold 220,000 shares of the firm’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $31.25, for a total value of $6,875,000.00. The disclosure for this sale can be found here. Insiders have sold 1,792,438 shares of company stock worth $59,759,525 over the last ninety days. Insiders own 44.77% of the company’s stock.

Several large investors have recently made changes to their positions in the company. American International Group Inc. grew its stake in shares of AppFolio by 7.2% during the first quarter. American International Group Inc. now owns 4,683 shares of the software maker’s stock valued at $127,000 after buying an additional 314 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of AppFolio by 11.0% during the second quarter. The Manufacturers Life Insurance Company now owns 7,782 shares of the software maker’s stock valued at $254,000 after buying an additional 774 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of AppFolio by 9.5% during the first quarter. Bank of New York Mellon Corp now owns 28,094 shares of the software maker’s stock valued at $764,000 after buying an additional 2,445 shares during the last quarter. Sei Investments Co. grew its stake in shares of AppFolio by 50,928.6% during the second quarter. Sei Investments Co. now owns 3,572 shares of the software maker’s stock valued at $117,000 after buying an additional 3,565 shares during the last quarter. Finally, UBS Group AG grew its stake in shares of AppFolio by 232.9% during the first quarter. UBS Group AG now owns 5,187 shares of the software maker’s stock valued at $142,000 after buying an additional 3,629 shares during the last quarter. 20.88% of the stock is currently owned by hedge funds and other institutional investors.

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AppFolio Company Profile

AppFolio, Inc is a provider of industry-specific, cloud-based software solutions for small and medium-sized businesses (SMBs) in the property management and legal industries. The Company’s mobile-optimized software solutions enable its customers to work at any time and from anywhere across multiple devices.