AppFolio (NASDAQ:APPF) Reaches New 1-Year High at $263.13

AppFolio, Inc. (NASDAQ:APPF) shares reached a new 52-week high during trading on Friday . The company traded as high as $263.13 and last traded at $261.93, with a volume of 127689 shares trading hands. The stock had previously closed at $251.71.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Keefe, Bruyette & Woods lifted their price target on AppFolio from $215.00 to $238.00 and gave the stock a “market perform” rating in a research note on Friday, April 26th. Stephens reaffirmed an “overweight” rating and issued a $241.00 target price on shares of AppFolio in a research note on Friday, April 26th. KeyCorp lifted their price target on shares of AppFolio from $264.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $295.00 price objective on shares of AppFolio in a research note on Friday. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, AppFolio has an average rating of “Moderate Buy” and a consensus target price of $248.71.

AppFolio Stock Up 5.0 %

The company has a market cap of $9.57 billion, a PE ratio of 127.71 and a beta of 0.80. The firm’s 50-day moving average is $239.83 and its 200-day moving average is $224.88.

AppFolio (NASDAQ:APPF) last announced its earnings results on Thursday, April 25th. The software maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.09. AppFolio had a return on equity of 13.51% and a net margin of 11.38%. The firm had revenue of $187.43 million during the quarter, compared to analyst estimates of $173.66 million. As a group, equities research analysts anticipate that AppFolio, Inc. will post 2.85 EPS for the current fiscal year.

Insider Activity

In related news, insider Matthew S. Mazza sold 2,131 shares of AppFolio stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $249.46, for a total transaction of $531,599.26. Following the completion of the transaction, the insider now directly owns 43,680 shares of the company’s stock, valued at approximately $10,896,412.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, major shareholder Maurice J. Duca sold 876 shares of AppFolio stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $252.82, for a total value of $221,470.32. Following the completion of the transaction, the insider now owns 7,100 shares of the company’s stock, valued at approximately $1,795,022. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Matthew S. Mazza sold 2,131 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $249.46, for a total transaction of $531,599.26. Following the completion of the transaction, the insider now owns 43,680 shares in the company, valued at approximately $10,896,412.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 123,982 shares of company stock worth $29,429,129. Corporate insiders own 9.15% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank bought a new position in AppFolio in the 4th quarter valued at approximately $38,458,000. Zeno Equity Partners LLP purchased a new position in shares of AppFolio in the fourth quarter worth $33,434,000. Principal Financial Group Inc. lifted its holdings in shares of AppFolio by 2,359.8% during the first quarter. Principal Financial Group Inc. now owns 151,646 shares of the software maker’s stock valued at $37,417,000 after purchasing an additional 145,481 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of AppFolio by 344.7% during the first quarter. Assenagon Asset Management S.A. now owns 155,127 shares of the software maker’s stock valued at $38,276,000 after buying an additional 120,246 shares during the last quarter. Finally, Westwind Capital increased its holdings in AppFolio by 301.0% in the 2nd quarter. Westwind Capital now owns 149,240 shares of the software maker’s stock worth $3,650,000 after buying an additional 112,024 shares in the last quarter. Institutional investors own 62.34% of the company’s stock.

About AppFolio

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.