AppFolio, Inc. (NASDAQ:APPF) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $51.60 and last traded at $51.55, with a volume of 95,448 shares changing hands. The stock had previously closed at $50.30.

Several equities research analysts recently issued reports on the stock. BidaskClub raised shares of AppFolio from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 17th. KeyCorp reaffirmed a “buy” rating on shares of AppFolio in a research note on Friday, August 11th. Zacks Investment Research raised shares of AppFolio from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a research note on Thursday, August 10th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $35.00 price objective (up previously from $27.00) on shares of AppFolio in a research note on Tuesday, August 8th. Finally, Morgan Stanley lifted their price objective on shares of AppFolio from $33.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 8th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $38.33.

The stock’s 50 day moving average is $46.76 and its 200-day moving average is $46.76. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 1650.00 and a beta of 0.76.

In other AppFolio news, major shareholder Global Fund Ii L.P. Dragoneer sold 20,911 shares of the stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $32.50, for a total value of $679,607.50. Following the completion of the sale, the insider now owns 76,655 shares in the company, valued at $2,491,287.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Marc Stad sold 198,200 shares of the stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $36.18, for a total transaction of $7,170,876.00. Following the completion of the sale, the insider now owns 73,153 shares of the company’s stock, valued at approximately $2,646,675.54. The disclosure for this sale can be found here. Insiders have sold 972,438 shares of company stock valued at $34,571,525 in the last 90 days. 44.77% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in APPF. Glynn Capital Management LLC acquired a new stake in AppFolio in the second quarter valued at $8,150,000. Laurion Capital Management LP acquired a new stake in AppFolio in the second quarter valued at $7,075,000. Arrowstreet Capital Limited Partnership acquired a new stake in AppFolio in the second quarter valued at $2,615,000. OxFORD Asset Management LLP acquired a new stake in AppFolio in the second quarter valued at $2,546,000. Finally, Vanguard Group Inc. lifted its stake in AppFolio by 25.3% in the first quarter. Vanguard Group Inc. now owns 386,278 shares of the software maker’s stock valued at $10,507,000 after acquiring an additional 78,048 shares during the last quarter. Hedge funds and other institutional investors own 20.88% of the company’s stock.

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About AppFolio

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.

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