AppFolio (NASDAQ:APPF) Price Target Raised to $275.00

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

A number of other research analysts have also weighed in on APPF. 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 note on Friday, January 26th. BTIG Research began coverage on shares of AppFolio in a report on Friday, January 19th. They set a buy rating and a $215.00 price objective on the stock. Finally, Stephens reaffirmed an overweight rating and issued a $241.00 target price on shares of AppFolio in a research note on Friday, January 26th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $241.00.

AppFolio Price Performance

NASDAQ:APPF opened at $238.05 on Friday. The business’s 50-day simple moving average is $229.69 and its 200-day simple moving average is $205.61. AppFolio has a fifty-two week low of $133.83 and a fifty-two week high of $256.73. The stock has a market capitalization of $8.54 billion, a PE ratio of 115.00 and a beta of 0.80.

Insiders Place Their Bets

In other news, Director Blottnitz Andreas Von sold 4,500 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $226.56, for a total value of $1,019,520.00. Following the completion of the transaction, the director now owns 5,449 shares in the company, valued at approximately $1,234,525.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Timothy K. Bliss sold 10,000 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $227.24, for a total value of $2,272,400.00. Following the completion of the transaction, the director now directly owns 51,070 shares of the company’s stock, valued at $11,605,146.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Blottnitz Andreas Von sold 4,500 shares of the business’s stock in a transaction 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 transaction, 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. Insiders have sold 15,489 shares of company stock valued at $3,531,011 in the last three months. 9.15% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of AppFolio by 3.8% in the fourth quarter. Vanguard Group Inc. now owns 2,078,661 shares of the software maker’s stock valued at $360,107,000 after buying an additional 76,934 shares during the last quarter. Fred Alger Management LLC raised its stake in AppFolio by 12.2% in the 3rd quarter. Fred Alger Management LLC now owns 572,007 shares of the software maker’s stock valued at $104,466,000 after acquiring an additional 62,347 shares during the period. Gilder Gagnon Howe & Co. LLC lifted its holdings in AppFolio by 3.8% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 421,309 shares of the software maker’s stock valued at $72,988,000 after purchasing an additional 15,283 shares during the last quarter. Norges Bank bought a new position in AppFolio during the fourth quarter worth $38,458,000. Finally, Zeno Equity Partners LLP boosted its position in AppFolio by 6.6% during the first quarter. Zeno Equity Partners LLP now owns 205,781 shares of the software maker’s stock worth $50,774,000 after purchasing an additional 12,786 shares during the period. Institutional investors own 62.34% of the company’s stock.

AppFolio Company Profile

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.