26,909 Shares in AppFolio, Inc. (NASDAQ:APPF) Acquired by Acadian Asset Management LLC
Acadian Asset Management LLC acquired a new stake in shares of AppFolio, Inc. (NASDAQ:APPF) during the second quarter, Holdings Channel reports. The fund acquired 26,909 shares of the software maker’s stock, valued at approximately $877,000.
A number of other hedge funds have also recently made changes to their positions in the stock. First Quadrant L P CA purchased a new stake in shares of AppFolio during the second quarter valued at about $225,000. Goldman Sachs Group Inc. purchased a new stake in shares of AppFolio during the first quarter valued at about $282,000. Dragoneer Investment Group LLC boosted its stake in shares of AppFolio by 3.2% in the first quarter. Dragoneer Investment Group LLC now owns 2,124,003 shares of the software maker’s stock valued at $57,773,000 after buying an additional 66,659 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of AppFolio during the first quarter valued at about $558,000. Finally, UBS Group AG boosted its stake in shares of AppFolio by 232.9% in the first quarter. UBS Group AG now owns 5,187 shares of the software maker’s stock valued at $142,000 after buying an additional 3,629 shares during the last quarter. Hedge funds and other institutional investors own 16.85% of the company’s stock.
Shares of AppFolio, Inc. (NASDAQ APPF) traded up 0.70% during mid-day trading on Friday, hitting $36.05. The stock had a trading volume of 95,993 shares. The firm has a 50 day moving average of $34.16 and a 200 day moving average of $28.30. AppFolio, Inc. has a one year low of $17.51 and a one year high of $38.85. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 1162.90 and a beta of 0.78.
Several brokerages have issued reports on APPF. KeyCorp restated a “buy” rating on shares of AppFolio in a research note on Friday. Zacks Investment Research upgraded AppFolio from a “hold” rating to a “strong-buy” rating and set a $42.00 price target on the stock in a research report on Thursday. Credit Suisse Group reiterated a “neutral” rating and set a $35.00 price target (up from $27.00) on shares of AppFolio in a research report on Tuesday. Morgan Stanley increased their price target on AppFolio from $33.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Finally, BidaskClub cut AppFolio from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 4th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $38.33.
In related news, major shareholder Global Fund Ii L.P. Dragoneer sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $31.00, for a total value of $1,550,000.00. Following the completion of the transaction, the insider now owns 23,469 shares in the company, valued at approximately $727,539. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William E. Oberndorf sold 220,000 shares of the business’s stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $31.25, for a total transaction of $6,875,000.00. The disclosure for this sale can be found here. Insiders sold a total of 1,592,011 shares of company stock valued at $52,506,807 in the last 90 days. 44.77% of the stock is currently owned by corporate insiders.
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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