AppFolio’s (APPF) Neutral Rating Reiterated at Credit Suisse Group

Credit Suisse Group reiterated their neutral rating on shares of AppFolio, Inc. (NASDAQ:APPF) in a report issued on Tuesday, August 8th. The brokerage currently has a $35.00 price target on the software maker’s stock, up from their previous price target of $27.00.

A number of other equities research analysts have also weighed in on the company. BidaskClub lowered AppFolio from a strong-buy rating to a buy rating in a research note on Friday, August 4th. Zacks Investment Research lowered AppFolio from a buy rating to a hold rating in a research note on Friday, July 21st. Morgan Stanley upped their price target on AppFolio to $33.00 and gave the company an equal weight rating in a research report on Thursday, July 20th. Finally, Pacific Crest reaffirmed a hold rating on shares of AppFolio in a research report on Monday, May 8th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. AppFolio presently has a consensus rating of Buy and a consensus price target of $38.33.

Shares of AppFolio (NASDAQ:APPF) traded up 2.62% during midday trading on Tuesday, hitting $41.10. The stock had a trading volume of 206,010 shares. AppFolio has a 1-year low of $17.51 and a 1-year high of $41.30. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 1325.81 and a beta of 0.78. The firm’s 50-day moving average price is $35.06 and its 200-day moving average price is $28.97.

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In related news, major shareholder Global Fund Ii L.P. Dragoneer sold 503,300 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $35.79, for a total value of $18,013,107.00. Following the sale, the insider now owns 52,263 shares in the company, valued at approximately $1,870,492.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Marc Stad sold 198,200 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $36.18, for a total value of $7,170,876.00. Following the completion of the sale, the insider now owns 73,153 shares in the company, valued at approximately $2,646,675.54. The disclosure for this sale can be found here. Insiders have sold a total of 1,792,438 shares of company stock valued at $59,759,525 in the last ninety days. 44.77% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. American International Group Inc. increased its stake in AppFolio by 7.2% in the first quarter. American International Group Inc. now owns 4,683 shares of the software maker’s stock valued at $127,000 after buying an additional 314 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in AppFolio by 11.0% in the second quarter. The Manufacturers Life Insurance Company now owns 7,782 shares of the software maker’s stock valued at $254,000 after buying an additional 774 shares during the last quarter. Bank of New York Mellon Corp increased its stake in AppFolio by 9.5% in the first quarter. Bank of New York Mellon Corp now owns 28,094 shares of the software maker’s stock valued at $764,000 after buying an additional 2,445 shares during the last quarter. Sei Investments Co. increased its stake in AppFolio by 50,928.6% in the second quarter. Sei Investments Co. now owns 3,572 shares of the software maker’s stock valued at $117,000 after buying an additional 3,565 shares during the last quarter. Finally, UBS Group AG increased its stake in AppFolio by 232.9% in the first quarter. UBS Group AG now owns 5,187 shares of the software maker’s stock valued at $142,000 after buying an additional 3,629 shares during the last quarter. Institutional investors own 17.73% of the company’s stock.

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.

Analyst Recommendations for AppFolio (NASDAQ:APPF)

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