AppFolio, Inc. (APPF) Receives Average Recommendation of “Buy” from Analysts
Shares of AppFolio, Inc. (NASDAQ:APPF) have received a consensus rating of “Buy” from the seven research firms that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $38.33.
APPF has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of AppFolio from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research note on Wednesday, July 12th. BidaskClub downgraded shares of AppFolio from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 4th. KeyCorp reiterated a “buy” rating on shares of AppFolio in a research note on Friday, August 11th. Morgan Stanley increased their price objective on shares of AppFolio from $33.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 8th. Finally, Pacific Crest reiterated a “hold” rating on shares of AppFolio in a research note on Monday, May 8th.
Shares of AppFolio (NASDAQ:APPF) traded up 2.62% during mid-day trading on Monday, hitting $41.10. 206,010 shares of the stock traded hands. AppFolio has a one year low of $17.51 and a one year high of $41.30. The company’s 50 day moving average is $35.06 and its 200 day moving average is $28.97. The firm has a market capitalization of $1.39 billion, a P/E ratio of 1325.81 and a beta of 0.78.
In other news, major shareholder Marc Stad sold 2,227 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $36.75, for a total value of $81,842.25. Following the sale, the insider now directly owns 73,153 shares in the company, valued at approximately $2,688,372.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Global Fund Ii L.P. Dragoneer sold 503,300 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $35.79, for a total transaction of $18,013,107.00. Following the completion of the sale, the insider now owns 52,263 shares in the company, valued at $1,870,492.77. 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 quarter. Corporate insiders own 44.77% of the company’s stock.
Several large investors have recently bought and sold shares of APPF. Glynn Capital Management LLC bought a new stake in AppFolio during the second quarter worth $8,150,000. Laurion Capital Management LP bought a new stake in AppFolio during the second quarter worth $7,075,000. Arrowstreet Capital Limited Partnership bought a new stake in AppFolio during the second quarter worth $2,615,000. OxFORD Asset Management LLP bought a new stake in AppFolio during the second quarter worth $2,546,000. Finally, Vanguard Group Inc. increased 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 worth $10,507,000 after buying an additional 78,048 shares during the last quarter. Institutional investors own 17.73% of the company’s stock.
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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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