Davis R M Inc. acquired a new position in AppFolio, Inc. (NASDAQ:APPF – Free Report) in the first quarter, Holdings Channel reports. The fund acquired 1,000 shares of the software maker’s stock, valued at approximately $247,000.
A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of AppFolio by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 2,152,626 shares of the software maker’s stock valued at $531,139,000 after acquiring an additional 73,965 shares during the period. Gilder Gagnon Howe & Co. LLC boosted its holdings in AppFolio by 3.8% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 421,309 shares of the software maker’s stock worth $72,988,000 after buying an additional 15,283 shares during the period. Norges Bank bought a new position in AppFolio in the 4th quarter worth approximately $38,458,000. Zeno Equity Partners LLP boosted its holdings in AppFolio by 6.6% in the 1st quarter. Zeno Equity Partners LLP now owns 205,781 shares of the software maker’s stock worth $50,774,000 after buying an additional 12,786 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in AppFolio by 13.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 170,239 shares of the software maker’s stock worth $29,492,000 after buying an additional 20,166 shares during the period. 62.34% of the stock is owned by institutional investors.
AppFolio Price Performance
AppFolio stock traded up $1.73 during trading hours on Tuesday, reaching $271.50. The stock had a trading volume of 174,852 shares, compared to its average volume of 299,257. The stock has a market cap of $9.83 billion, a PE ratio of 131.15 and a beta of 0.80. AppFolio, Inc. has a 52 week low of $164.29 and a 52 week high of $274.34. The company has a fifty day simple moving average of $241.89 and a 200-day simple moving average of $229.21.
Analyst Upgrades and Downgrades
Several research analysts recently commented on APPF shares. Stephens reaffirmed an “overweight” rating and issued a $241.00 price objective on shares of AppFolio in a report on Friday, April 26th. KeyCorp raised their price objective on shares of AppFolio from $264.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. JPMorgan Chase & Co. raised their price objective on shares of AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Keefe, Bruyette & Woods increased their target price on shares of AppFolio from $215.00 to $238.00 and gave the stock a “market perform” rating in a research note on Friday, April 26th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $295.00 target price on shares of AppFolio in a research note on Friday, July 12th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $261.71.
View Our Latest Analysis on AppFolio
Insider Activity
In related news, major shareholder Maurice J. Duca sold 2,100 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $231.20, for a total transaction of $485,520.00. Following the completion of the transaction, the insider now owns 55,000 shares in the company, valued at $12,716,000. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, major shareholder Maurice J. Duca sold 876 shares of AppFolio stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $252.82, for a total transaction of $221,470.32. Following the completion of the sale, the insider now owns 7,100 shares in the company, valued at approximately $1,795,022. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Maurice J. Duca sold 2,100 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $231.20, for a total transaction of $485,520.00. Following the transaction, the insider now owns 55,000 shares of the company’s stock, valued at approximately $12,716,000. The disclosure for this sale can be found here. Insiders sold 124,982 shares of company stock valued at $29,689,129 over the last three months. Insiders own 9.15% of the company’s stock.
AppFolio Profile
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.
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