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.

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AppFolio Profile

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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Institutional Ownership by Quarter for AppFolio (NASDAQ:APPF)

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