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.

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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.

Analyst Recommendations for AppFolio (NASDAQ:APPF)

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