AppFolio (NASDAQ:APPF) Hits New 1-Year High at $207.54

AppFolio, Inc. (NASDAQ:APPF) reached a new 52-week high on Tuesday . The stock traded as high as $207.54 and last traded at $206.29, with a volume of 100151 shares. The stock had previously closed at $198.28.

Analysts Set New Price Targets

APPF has been the topic of a number of research analyst reports. KeyCorp raised their target price on AppFolio from $210.00 to $223.00 and gave the company an “overweight” rating in a report on Friday, October 27th. Stephens upgraded shares of AppFolio from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $184.00 to $212.00 in a research note on Monday, August 21st. JPMorgan Chase & Co. started coverage on shares of AppFolio in a research report on Thursday, August 17th. They issued an “overweight” rating and a $200.00 price target on the stock. William Blair upgraded shares of AppFolio from a “market perform” rating to an “outperform” rating in a report on Monday, August 28th. Finally, DA Davidson increased their target price on shares of AppFolio from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, October 27th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, AppFolio presently has an average rating of “Moderate Buy” and a consensus target price of $218.75.

AppFolio Stock Performance

The company has a 50-day moving average of $186.85 and a 200 day moving average of $174.34. The firm has a market cap of $7.16 billion, a P/E ratio of -147.32 and a beta of 0.85.

Insider Transactions at AppFolio

In other AppFolio news, Director Janet Kerr sold 250 shares of the stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $172.46, for a total transaction of $43,115.00. Following the sale, the director now owns 16,876 shares of the company’s stock, valued at approximately $2,910,434.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 9.15% of the company’s stock.

Hedge Funds Weigh In On AppFolio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APPF. Arcadia Investment Management Corp MI increased its stake in AppFolio by 70.4% in the third quarter. Arcadia Investment Management Corp MI now owns 138 shares of the software maker’s stock valued at $25,000 after purchasing an additional 57 shares in the last quarter. Altshuler Shaham Ltd acquired a new position in shares of AppFolio in the 1st quarter valued at $30,000. Lazard Asset Management LLC bought a new stake in shares of AppFolio in the 3rd quarter valued at $30,000. First Horizon Advisors Inc. lifted its holdings in AppFolio by 2,922.2% during the first 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. bought a new position in AppFolio during the first quarter worth about $39,000. Institutional investors own 48.96% of the company’s stock.

About AppFolio

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry. The company offers AppFolio Property Manager, a platform to leverage process automation, easy to use interface, and the optimization of common workflows for property management companies, as well as completes and records critical transactions in the system and give its customers access to the data they need to run their business; AppFolio Property Manager Plus, which offers customizable workflows that allow customers to digitize their existing processes, performance insights, intelligent revenue management, and integrations through selected partners and dedicated strategic account managers; and AppFolio Investment Management, a solution that is designed to enable real estate investment management organizations to manage investor relationships through enhancing transparency and streamlining certain business processes.