AppFolio (NASDAQ:APPF) Reaches New 12-Month High at $252.16

AppFolio, Inc. (NASDAQ:APPF) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $252.16 and last traded at $248.26, with a volume of 85667 shares traded. The stock had previously closed at $226.49.

Analyst Ratings Changes

APPF has been the topic of a number of analyst reports. StockNews.com lowered shares of AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, December 21st. Stephens restated an “overweight” rating and set a $241.00 target price on shares of AppFolio in a research report on Friday, January 26th. BTIG Research initiated coverage on shares of AppFolio in a research report on Friday, January 19th. They set a “buy” rating and a $215.00 target price on the stock. JPMorgan Chase & Co. raised their target price on shares of AppFolio from $228.00 to $237.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Finally, KeyCorp raised their target price on shares of AppFolio from $254.00 to $264.00 and gave the stock an “overweight” rating in a research report on Monday, March 18th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $239.40.

AppFolio Stock Down 0.4 %

The company has a market cap of $8.88 billion, a PE ratio of 8,258.42 and a beta of 0.81. The stock’s 50 day simple moving average is $224.92 and its two-hundred day simple moving average is $198.52.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, January 25th. The software maker reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.29. AppFolio had a net margin of 0.44% and a negative return on equity of 8.58%. The company had revenue of $171.83 million for the quarter, compared to the consensus estimate of $162.80 million. Analysts forecast that AppFolio, Inc. will post 2.66 EPS for the current year.

Insider Activity

In other news, Director Blottnitz Andreas Von sold 4,500 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $226.56, for a total value of $1,019,520.00. Following the transaction, the director now owns 5,449 shares of the company’s stock, valued at approximately $1,234,525.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Blottnitz Andreas Von sold 4,500 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $226.56, for a total value of $1,019,520.00. Following the transaction, the director now owns 5,449 shares of the company’s stock, valued at approximately $1,234,525.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Timothy K. Bliss sold 10,000 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $227.24, for a total transaction of $2,272,400.00. Following the completion of the transaction, the director now directly owns 51,070 shares in the company, valued at approximately $11,605,146.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,489 shares of company stock valued at $3,531,011. Company insiders own 9.15% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in APPF. Arcadia Investment Management Corp MI grew its holdings in AppFolio by 70.4% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 138 shares of the software maker’s stock worth $25,000 after acquiring an additional 57 shares in the last quarter. Zeno Equity Partners LLP acquired a new position in AppFolio during the 4th quarter worth $30,000. Lazard Asset Management LLC acquired a new position in AppFolio during the 3rd quarter worth $30,000. First Horizon Advisors Inc. grew its holdings in AppFolio by 2,922.2% during the 1st quarter. First Horizon Advisors Inc. now owns 272 shares of the software maker’s stock worth $34,000 after acquiring an additional 263 shares in the last quarter. Finally, Federated Hermes Inc. acquired a new position in AppFolio during the 1st quarter worth $39,000. 62.34% of the stock is owned by institutional investors and hedge funds.

AppFolio Company Profile

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry in the United States. The company provides a cloud-based platform that enables users to automate and optimize common workflows; tools that assist with leasing, maintenance, and accounting; and other technology and services offered by third parties.