Dragoneer Investment Group LLC lessened its stake in AppFolio Inc (NASDAQ:APPF) by 41.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,101,321 shares of the software maker’s stock after selling 792,329 shares during the quarter. AppFolio accounts for about 8.7% of Dragoneer Investment Group LLC’s portfolio, making the stock its 4th largest holding. Dragoneer Investment Group LLC owned about 3.24% of AppFolio worth $52,808,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently modified their holdings of APPF. Sei Investments Co. raised its holdings in AppFolio by 50,928.6% in the 2nd quarter. Sei Investments Co. now owns 3,572 shares of the software maker’s stock worth $117,000 after purchasing an additional 3,565 shares during the period. UBS Group AG raised its holdings in AppFolio by 232.9% in the 1st quarter. UBS Group AG now owns 5,187 shares of the software maker’s stock worth $142,000 after purchasing an additional 3,629 shares during the period. Russell Investments Group Ltd. acquired a new position in AppFolio in the 2nd quarter worth about $178,000. Parametric Portfolio Associates LLC acquired a new position in AppFolio in the 2nd quarter worth about $214,000. Finally, Bessemer Group Inc. acquired a new position in AppFolio in the 2nd quarter worth about $241,000. 24.85% of the stock is owned by institutional investors and hedge funds.
In other AppFolio news, Director Janet Kerr sold 1,576 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $43.08, for a total transaction of $67,894.08. Following the completion of the transaction, the director now owns 17,189 shares of the company’s stock, valued at $740,502.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan Walker sold 30,000 shares of the stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $44.58, for a total value of $1,337,400.00. Following the transaction, the insider now directly owns 1,554,025 shares of the company’s stock, valued at approximately $69,278,434.50. The disclosure for this sale can be found here. 44.77% of the stock is owned by corporate insiders.
APPF has been the subject of a number of analyst reports. KeyCorp reaffirmed a “buy” rating on shares of AppFolio in a report on Friday, August 11th. Zacks Investment Research raised AppFolio from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a report on Tuesday, October 17th. Morgan Stanley upped their price target on AppFolio from $38.00 to $46.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 14th. Finally, BidaskClub raised AppFolio from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 17th. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $43.00.
AppFolio Inc (NASDAQ:APPF) opened at $41.35 on Friday. The firm has a market capitalization of $1,393.48, a PE ratio of 256.56 and a beta of 0.61. AppFolio Inc has a fifty-two week low of $21.63 and a fifty-two week high of $52.25.
AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Monday, November 6th. The software maker reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. AppFolio had a return on equity of 7.91% and a net margin of 4.37%. The company had revenue of $37.90 million during the quarter, compared to analysts’ expectations of $36.16 million. The business’s revenue was up 34.6% compared to the same quarter last year. research analysts predict that AppFolio Inc will post 0.25 earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: “AppFolio Inc (APPF) Shares Sold by Dragoneer Investment Group LLC” was posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this piece of content on another publication, it was copied illegally and republished in violation of US and international trademark and copyright laws. The legal version of this piece of content can be viewed at https://www.dispatchtribunal.com/2017/12/08/appfolio-inc-appf-shares-sold-by-dragoneer-investment-group-llc.html.
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.
Want to see what other hedge funds are holding APPF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AppFolio Inc (NASDAQ:APPF).
Receive News & Ratings for AppFolio Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AppFolio Inc and related companies with MarketBeat.com's FREE daily email newsletter.