Arrowstreet Capital Limited Partnership bought a new position in AppFolio, Inc. (NASDAQ:APPF) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 80,224 shares of the software maker’s stock, valued at approximately $2,615,000. Arrowstreet Capital Limited Partnership owned 0.24% of AppFolio at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of APPF. Geode Capital Management LLC boosted its stake in AppFolio by 12.0% during the first quarter. Geode Capital Management LLC now owns 88,033 shares of the software maker’s stock valued at $2,394,000 after buying an additional 9,458 shares in the last quarter. Chicago Equity Partners LLC bought a new position in AppFolio during the second quarter valued at about $1,173,000. Vanguard Group Inc. boosted its stake in AppFolio by 25.3% during the first quarter. Vanguard Group Inc. now owns 386,278 shares of the software maker’s stock valued at $10,507,000 after buying an additional 78,048 shares in the last quarter. Zacks Investment Management bought a new position in AppFolio during the second quarter valued at about $1,117,000. Finally, Rhumbline Advisers bought a new position in AppFolio during the second quarter valued at about $300,000. 20.98% of the stock is currently owned by institutional investors.
In other news, major shareholder Global Fund Ii L.P. Dragoneer sold 503,300 shares of the business’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 transaction, the insider now owns 52,263 shares in the company, valued at approximately $1,870,492.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Marc Stad sold 198,200 shares of the business’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 transaction, 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 801,527 shares of company stock valued at $28,629,167 in the last quarter. Company insiders own 44.77% of the company’s stock.
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AppFolio, Inc. (NASDAQ:APPF) traded up 1.31% during trading on Friday, hitting $46.35. The company had a trading volume of 166,129 shares. AppFolio, Inc. has a 12-month low of $18.75 and a 12-month high of $52.25. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of 1495.16 and a beta of 0.76. The firm has a 50-day moving average of $48.00 and a 200 day moving average of $48.00.
Several brokerages recently weighed in on APPF. Zacks Investment Research cut AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday. BidaskClub raised AppFolio from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 17th. KeyCorp reiterated a “buy” rating on shares of AppFolio in a research report on Friday, August 11th. Morgan Stanley increased their price target on AppFolio from $33.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 8th. Finally, Credit Suisse Group reiterated a “neutral” rating and issued a $35.00 price target (up previously from $27.00) on shares of AppFolio in a research report on Tuesday, August 8th. Four analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. AppFolio currently has an average rating of “Buy” and a consensus target price of $42.67.
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.
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