AppFolio, Inc. (NASDAQ:APPF) had its price objective hoisted by Morgan Stanley from $33.00 to $38.00 in a research report sent to investors on Tuesday morning. The brokerage currently has an equal weight rating on the software maker’s stock.
Other research analysts also recently issued research reports about the company. Credit Suisse Group reaffirmed a neutral rating and set a $35.00 price target (up previously from $27.00) on shares of AppFolio in a research note on Tuesday. BidaskClub downgraded AppFolio from a strong-buy rating to a buy rating in a research note on Friday, August 4th. Zacks Investment Research downgraded AppFolio from a strong-buy rating to a hold rating in a research note on Monday, July 10th. Finally, Pacific Crest reaffirmed a hold rating on shares of AppFolio in a research note on Monday, May 8th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and an average price target of $38.33.
AppFolio (APPF) traded up 0.56% during midday trading on Tuesday, hitting $36.00. 185,214 shares of the stock were exchanged. The stock has a market cap of $1.22 billion, a P/E ratio of 1161.29 and a beta of 0.78. The firm has a 50-day moving average price of $34.26 and a 200-day moving average price of $28.39. AppFolio has a one year low of $17.51 and a one year high of $38.85.
In related news, major shareholder Marc Stad sold 198,200 shares of AppFolio stock in a transaction dated Thursday, August 10th. The stock was 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 in the company, valued at approximately $2,646,675.54. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Global Fund Ii L.P. Dragoneer sold 50,000 shares of AppFolio stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $31.00, for a total value of $1,550,000.00. Following the sale, the insider now owns 23,469 shares of the company’s stock, valued at approximately $727,539. The disclosure for this sale can be found here. Insiders have sold a total of 1,792,438 shares of company stock valued at $59,759,525 in the last ninety days. Corporate insiders own 44.77% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. State Street Corp boosted its stake in AppFolio by 14.4% in the fourth quarter. State Street Corp now owns 96,083 shares of the software maker’s stock worth $2,293,000 after buying an additional 12,096 shares in the last quarter. Strs Ohio bought a new stake in AppFolio during the first quarter worth approximately $359,000. Bank of New York Mellon Corp boosted its stake in AppFolio by 9.5% in the first quarter. Bank of New York Mellon Corp now owns 28,094 shares of the software maker’s stock worth $764,000 after buying an additional 2,445 shares in the last quarter. Blair William & Co. IL boosted its stake in AppFolio by 3.6% in the first quarter. Blair William & Co. IL now owns 109,040 shares of the software maker’s stock worth $2,710,000 after buying an additional 3,775 shares in the last quarter. Finally, American International Group Inc. boosted its stake in AppFolio by 7.2% in the first quarter. American International Group Inc. now owns 4,683 shares of the software maker’s stock worth $127,000 after buying an additional 314 shares in the last quarter. Hedge funds and other institutional investors own 16.85% of the company’s stock.
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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