AppFolio, Inc. (NASDAQ:APPF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday, October 17th. The brokerage presently has a $57.00 price target on the software maker’s stock. Zacks Investment Research‘s target price points to a potential upside of 22.98% from the company’s current price.
According to Zacks, “AppFolio, Inc. offers cloud-based software solutions for property management and legal industries. It offers AppFolio Property Manager, a solution for the property managers including activities of posting and tracking tenant vacancies, handling the entire leasing process electronically, administering maintenance and repairs with their vendor networks, managing accounting and reporting to property owners. MyCase solution for practitioners and small law firms, providing time tracking, billing and payments, client communication, coordination with other lawyers and support staff, legal document management and assembly and general office administration services. Value+ services include Websites and electronic payment services. AppFolio, Inc. is headquartered Goleta, California. “
APPF has been the topic of several other research reports. BidaskClub upgraded shares of AppFolio from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 17th. Morgan Stanley lifted their target price on shares of AppFolio from $33.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 8th. Credit Suisse Group restated a “neutral” rating and set a $35.00 price objective (up previously from $27.00) on shares of AppFolio in a report on Tuesday, August 8th. Finally, KeyCorp reissued a “buy” rating on shares of AppFolio in a research note on Friday, August 11th. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $42.67.
Shares of AppFolio (NASDAQ:APPF) opened at 46.35 on Tuesday. The firm has a 50-day moving average price of $48.00 and a 200-day moving average price of $48.00. The stock has a market capitalization of $1.57 billion, a PE ratio of 1495.16 and a beta of 0.76. AppFolio has a 1-year low of $18.75 and a 1-year high of $52.25.
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In related news, major shareholder Global Fund Ii L.P. Dragoneer sold 503,300 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $35.79, for a total value of $18,013,107.00. Following the transaction, the insider now directly owns 52,263 shares of the company’s stock, valued at approximately $1,870,492.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Marc Stad sold 2,227 shares of the company’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $36.75, for a total transaction of $81,842.25. Following the sale, the insider now directly owns 73,153 shares in the company, valued at $2,688,372.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 801,527 shares of company stock valued at $28,629,167. 44.77% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sei Investments Co. lifted its holdings in AppFolio by 50,928.6% during the second quarter. Sei Investments Co. now owns 3,572 shares of the software maker’s stock valued at $117,000 after purchasing an additional 3,565 shares during the last quarter. American International Group Inc. lifted its holdings in shares of 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. UBS Group AG lifted its holdings in shares of AppFolio by 232.9% in the first quarter. UBS Group AG now owns 5,187 shares of the software maker’s stock worth $142,000 after buying an additional 3,629 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of AppFolio in the second quarter worth about $178,000. Finally, Parametric Portfolio Associates LLC purchased a new stake in shares of AppFolio in the second quarter worth about $214,000. 20.98% of the stock is currently owned by institutional investors and hedge funds.
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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