AppFolio, Inc. (APPF) Upgraded to Strong-Buy by BidaskClub
AppFolio, Inc. (NASDAQ:APPF) was upgraded by BidaskClub from a “buy” rating to a “strong-buy” rating in a report released on Thursday.
A number of other equities research analysts have also recently commented on the company. KeyCorp restated a “buy” rating on shares of AppFolio in a research report on Friday, August 11th. Zacks Investment Research upgraded AppFolio from a “hold” rating to a “strong-buy” rating and set a $42.00 target price on the stock in a research report on Thursday, August 10th. Morgan Stanley raised their target price on AppFolio from $33.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 8th. Credit Suisse Group restated a “neutral” rating and set a $35.00 target price (up from $27.00) on shares of AppFolio in a research report on Tuesday, August 8th. Finally, Pacific Crest restated a “hold” rating on shares of AppFolio in a research report on Monday, May 8th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $38.33.
AppFolio (NASDAQ APPF) traded up 2.62% during mid-day trading on Thursday, reaching $41.10. The company’s stock had a trading volume of 206,010 shares. The company has a market capitalization of $551.03 million, a price-to-earnings ratio of 1370.00 and a beta of 0.78. The stock has a 50-day moving average price of $35.06 and a 200-day moving average price of $28.97. AppFolio has a one year low of $17.51 and a one year high of $41.30.
WARNING: “AppFolio, Inc. (APPF) Upgraded to Strong-Buy by BidaskClub” was first published by American Banking News and is the property of of American Banking News. If you are viewing this news story on another site, it was stolen and reposted in violation of international trademark & copyright law. The original version of this news story can be read at https://www.americanbankingnews.com/2017/08/20/appfolio-inc-appf-upgraded-to-strong-buy-by-bidaskclub.html.
In related news, major shareholder Global Fund Ii L.P. Dragoneer sold 50,000 shares of the firm’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $31.00, for a total value of $1,550,000.00. Following the transaction, the insider now directly owns 23,469 shares of the company’s stock, valued at approximately $727,539. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Marc Stad sold 400,000 shares of the firm’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $30.00, for a total transaction of $12,000,000.00. Following the completion of the transaction, the insider now directly owns 25,780 shares in the company, valued at $773,400. The disclosure for this sale can be found here. Insiders sold a total of 1,792,438 shares of company stock worth $59,759,525 over the last ninety days. 44.77% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its position in shares of AppFolio by 11.0% in the second quarter. The Manufacturers Life Insurance Company now owns 7,782 shares of the software maker’s stock worth $254,000 after buying an additional 774 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of AppFolio during the second quarter worth $2,615,000. State Street Corp raised its position in shares of AppFolio by 23.5% in the second quarter. State Street Corp now owns 125,619 shares of the software maker’s stock worth $4,095,000 after buying an additional 23,912 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of AppFolio by 189.6% in the second quarter. Goldman Sachs Group Inc. now owns 30,038 shares of the software maker’s stock worth $980,000 after buying an additional 19,666 shares in the last quarter. Finally, PDT Partners LLC bought a new position in shares of AppFolio during the second quarter worth $653,000. 17.73% of the stock is currently owned by hedge funds and other institutional investors.
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.
Receive News & Ratings for AppFolio Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AppFolio Inc. and related companies with MarketBeat.com's FREE daily email newsletter.