AppFolio (NASDAQ:APPF) Reaches New 1-Year High at $116.73

AppFolio Inc (NASDAQ:APPF) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $116.73 and last traded at $116.16, with a volume of 928 shares trading hands. The stock had previously closed at $114.42.

A number of equities research analysts have weighed in on APPF shares. BidaskClub upgraded AppFolio from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 28th. Zacks Investment Research upgraded AppFolio from a “hold” rating to a “strong-buy” rating and set a $109.00 target price for the company in a research note on Wednesday, October 30th. Finally, ValuEngine raised shares of AppFolio from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $92.53.

The firm has a market cap of $3.85 billion, a price-to-earnings ratio of 208.38 and a beta of 1.20. The business’s 50 day moving average price is $99.81 and its 200-day moving average price is $99.24. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.53 and a current ratio of 1.53.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Monday, October 28th. The software maker reported $0.14 EPS for the quarter, topping the consensus estimate of $0.09 by $0.05. The business had revenue of $67.90 million for the quarter, compared to analysts’ expectations of $67.08 million. AppFolio had a net margin of 14.44% and a return on equity of 32.06%. The company’s quarterly revenue was up 35.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.16 earnings per share. On average, analysts forecast that AppFolio Inc will post 0.92 earnings per share for the current fiscal year.

In other news, CEO Jason Robert Randall sold 15,690 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $95.16, for a total value of $1,493,060.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William R. Rauth III sold 3,517 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $104.00, for a total value of $365,768.00. Following the completion of the sale, the director now owns 20,000 shares of the company’s stock, valued at $2,080,000. The disclosure for this sale can be found here. Insiders have sold 28,517 shares of company stock worth $2,752,311 in the last 90 days. 42.46% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Aperio Group LLC acquired a new position in AppFolio in the second quarter worth $69,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in AppFolio in the second quarter valued at approximately $72,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of AppFolio during the second quarter valued at approximately $125,000. NEXT Financial Group Inc purchased a new stake in shares of AppFolio during the second quarter valued at approximately $166,000. Finally, Bank of Montreal Can boosted its stake in shares of AppFolio by 289.9% in the second quarter. Bank of Montreal Can now owns 1,731 shares of the software maker’s stock valued at $177,000 after purchasing an additional 1,287 shares during the period. Hedge funds and other institutional investors own 37.17% of the company’s stock.

About AppFolio (NASDAQ:APPF)

AppFolio, Inc provides industry-specific cloud-based software solutions for small and medium-sized businesses in the property management and legal industries. It offers AppFolio Property Manager, a cloud-based software solution for the real estate market that provides property managers of various sizes and tools and services designed to streamline their property management businesses, such as posting and tracking vacancies, leasing vacant properties, and accounting, as well as facilitating tenant, owner, and vendor communications.

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