AppFolio, Inc. (APPF) Given Consensus Recommendation of “Buy” by Brokerages
AppFolio, Inc. (NASDAQ:APPF) has earned a consensus rating of “Buy” from the seven ratings firms that are covering the firm, Marketbeat Ratings reports. Three 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 analysts that have issued a report on the stock in the last year is $38.33.
Several equities research analysts recently commented on APPF shares. KeyCorp reaffirmed a “buy” rating on shares of AppFolio in a report on Friday, August 11th. Zacks Investment Research raised AppFolio from a “hold” rating to a “strong-buy” rating and set a $42.00 price target for the company in a report on Thursday, August 10th. BidaskClub cut AppFolio from a “strong-buy” rating to a “buy” rating in a report on Friday, August 4th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $35.00 price target (up previously from $27.00) on shares of AppFolio in a report on Tuesday, August 8th. Finally, Morgan Stanley increased their price target on AppFolio from $33.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, August 8th.
In other AppFolio news, major shareholder Marc Stad sold 400,000 shares of the firm’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $30.00, for a total transaction of $12,000,000.00. Following the completion of the sale, the insider now owns 25,780 shares of the company’s stock, valued at $773,400. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider William E. Oberndorf sold 220,000 shares of the firm’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $31.25, for a total value of $6,875,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,792,438 shares of company stock valued at $59,759,525. Insiders own 44.77% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Blair William & Co. IL increased its stake in AppFolio by 3.6% during the first quarter. Blair William & Co. IL now owns 109,040 shares of the software maker’s stock worth $2,710,000 after acquiring an additional 3,775 shares during the last quarter. Geode Capital Management LLC increased its stake in AppFolio by 12.0% during the first quarter. Geode Capital Management LLC now owns 88,033 shares of the software maker’s stock worth $2,394,000 after acquiring an additional 9,458 shares during the last quarter. Vanguard Group Inc. increased its stake in AppFolio by 25.3% during the first quarter. Vanguard Group Inc. now owns 386,278 shares of the software maker’s stock worth $10,507,000 after acquiring an additional 78,048 shares during the last quarter. First Quadrant L P CA acquired a new stake in AppFolio during the second quarter worth $225,000. Finally, Spark Investment Management LLC acquired a new stake in AppFolio during the first quarter worth $388,000. 20.88% of the stock is owned by institutional investors.
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Shares of AppFolio (APPF) opened at 44.70 on Friday. The firm has a 50-day moving average price of $38.57 and a 200-day moving average price of $30.76. The company has a market cap of $1.52 billion, a P/E ratio of 1441.94 and a beta of 0.73. AppFolio has a 1-year low of $17.91 and a 1-year high of $44.75.
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.
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