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.

COPYRIGHT VIOLATION NOTICE: “26,909 Shares in AppFolio, Inc. (NASDAQ:APPF) Acquired by Acadian Asset Management LLC” was reported by Watch List News and is the sole property of of Watch List News. If you are reading this story on another website, it was illegally stolen and republished in violation of US and international trademark & copyright laws. The correct version of this story can be read at https://www.watchlistnews.com/26909-shares-in-appfolio-inc-nasdaqappf-acquired-by-acadian-asset-management-llc/1473770.html.

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.

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.

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).

Institutional Ownership by Quarter for AppFolio (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 Analyst Ratings Network's FREE daily email newsletter.