AppFolio, Inc. (APPF) Sets New 1-Year High at $43.50
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.
ILLEGAL ACTIVITY NOTICE: This news story was originally published by Daily Political and is the property of of Daily Political. If you are reading this news story on another site, it was illegally copied and republished in violation of United States and international copyright legislation. The correct version of this news story can be viewed at https://www.dailypolitical.com/2017/09/06/appfolio-inc-appf-sets-new-1-year-high-at-43-50.html.
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.