Strs Ohio Increases Stake in AppFolio Inc (APPF)
Strs Ohio grew its position in AppFolio Inc (NASDAQ:APPF) by 13.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 17,200 shares of the software maker’s stock after acquiring an additional 2,100 shares during the period. Strs Ohio’s holdings in AppFolio were worth $713,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cubist Systematic Strategies LLC bought a new position in shares of AppFolio in the 3rd quarter valued at $236,000. Sei Investments Co. raised its position in AppFolio by 60.0% during the 3rd quarter. Sei Investments Co. now owns 5,715 shares of the software maker’s stock worth $274,000 after purchasing an additional 2,143 shares during the last quarter. Parametric Portfolio Associates LLC bought a new position in AppFolio during the 2nd quarter worth $214,000. The Manufacturers Life Insurance Company raised its position in AppFolio by 11.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,782 shares of the software maker’s stock worth $254,000 after purchasing an additional 774 shares during the last quarter. Finally, Navellier & Associates Inc bought a new position in AppFolio during the 2nd quarter worth $257,000. Institutional investors own 24.73% of the company’s stock.
In other news, Director William R. Rauth III sold 20,000 shares of AppFolio stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $42.53, for a total value of $850,600.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $850,600. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Janet Kerr sold 1,576 shares of AppFolio stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $43.08, for a total value of $67,894.08. Following the completion of the transaction, the director now directly owns 17,189 shares of the company’s stock, valued at $740,502.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,576 shares of company stock valued at $1,993,494. 44.77% of the stock is owned by corporate insiders.
Several brokerages recently issued reports on APPF. Zacks Investment Research raised AppFolio from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research report on Tuesday, October 17th. KeyCorp reaffirmed a “hold” rating on shares of AppFolio in a research report on Monday, November 6th. Morgan Stanley raised their target price on AppFolio from $46.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. Finally, BidaskClub lowered AppFolio from a “sell” rating to a “strong sell” rating in a research report on Wednesday, December 27th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $44.33.
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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