AppFolio Inc. (NASDAQ:APPF) major shareholder Keenan Capital, Llc sold 5,700 shares of the stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $19.67, for a total transaction of $112,119.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

AppFolio Inc. (NASDAQ:APPF) opened at 18.99 on Tuesday. The company’s 50 day moving average is $18.21 and its 200 day moving average is $14.64. The company’s market cap is $638.94 million. AppFolio Inc. has a 12-month low of $11.07 and a 12-month high of $19.98.

AppFolio (NASDAQ:APPF) last announced its earnings results on Monday, August 8th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.06. AppFolio had a negative net margin of 16.11% and a negative return on equity of 20.16%. Analysts forecast that AppFolio Inc. will post ($0.30) earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC increased its position in shares of AppFolio by 7.1% in the first quarter. Geode Capital Management LLC now owns 41,614 shares of the company’s stock valued at $509,000 after buying an additional 2,758 shares in the last quarter. State Street Corp increased its position in shares of AppFolio by 4.7% in the second quarter. State Street Corp now owns 74,197 shares of the company’s stock valued at $1,074,000 after buying an additional 3,346 shares in the last quarter. California State Teachers Retirement System increased its position in shares of AppFolio by 32.5% in the second quarter. California State Teachers Retirement System now owns 15,938 shares of the company’s stock valued at $230,000 after buying an additional 3,912 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of AppFolio by 23.0% in the second quarter. Bank of New York Mellon Corp now owns 24,981 shares of the company’s stock valued at $361,000 after buying an additional 4,664 shares in the last quarter. Finally, Teachers Advisors Inc. increased its position in shares of AppFolio by 105.1% in the second quarter. Teachers Advisors Inc. now owns 12,077 shares of the company’s stock valued at $175,000 after buying an additional 6,190 shares in the last quarter. Institutional investors own 13.35% of the company’s stock.

A number of equities analysts have recently commented on the stock. Credit Suisse Group AG assumed coverage on shares of AppFolio in a report on Tuesday, August 9th. They issued a “hold” rating and a $18.00 price target on the stock. Zacks Investment Research raised shares of AppFolio from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Friday, August 12th.

About AppFolio

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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