UBS Group AG increased its stake in AppFolio, Inc. (NASDAQ:APPF) by 232.9% during the first quarter, Holdings Channel reports. The institutional investor owned 5,187 shares of the software maker’s stock after buying an additional 3,629 shares during the period. UBS Group AG’s holdings in AppFolio were worth $142,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Blair William & Co. IL increased its stake in shares of AppFolio by 3.6% in the first quarter. Blair William & Co. IL now owns 109,040 shares of the software maker’s stock valued at $2,710,000 after buying an additional 3,775 shares in the last quarter. State Street Corp increased its stake in AppFolio by 14.4% in the fourth quarter. State Street Corp now owns 96,083 shares of the software maker’s stock worth $2,293,000 after buying an additional 12,096 shares during the period. Spark Investment Management LLC acquired a new stake in AppFolio during the first quarter worth approximately $388,000. Strs Ohio acquired a new stake in AppFolio during the first quarter worth approximately $359,000. Finally, Bank of New York Mellon Corp increased its stake in AppFolio by 9.5% in the first quarter. Bank of New York Mellon Corp now owns 28,094 shares of the software maker’s stock worth $764,000 after buying an additional 2,445 shares during the period. 16.85% of the stock is owned by hedge funds and other institutional investors.
AppFolio, Inc. (NASDAQ:APPF) traded up 0.70% during midday trading on Friday, reaching $36.05. The company’s stock had a trading volume of 17,040 shares. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 1162.90 and a beta of 0.78. AppFolio, Inc. has a 1-year low of $17.51 and a 1-year high of $38.85. The company’s 50-day moving average price is $34.16 and its 200-day moving average price is $28.30.
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APPF has been the subject of a number of recent analyst reports. Zacks Investment Research raised AppFolio from a “hold” rating to a “strong-buy” rating and set a $32.00 target price for the company in a report on Thursday, May 11th. BidaskClub downgraded AppFolio from a “strong-buy” rating to a “buy” rating in a report on Friday, August 4th. KeyCorp reissued a “buy” rating on shares of AppFolio in a report on Friday. Pacific Crest reissued a “hold” rating on shares of AppFolio in a report on Monday, May 8th. Finally, Morgan Stanley raised their target price on AppFolio to $33.00 and gave the company an “equal weight” rating in a report on Thursday, July 20th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. AppFolio has an average rating of “Buy” and an average target price of $38.33.
In other news, major shareholder Marc Stad sold 400,000 shares of the company’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $30.00, for a total value of $12,000,000.00. Following the completion of the sale, the insider now owns 25,780 shares in the company, valued at $773,400. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Global Fund Ii L.P. Dragoneer sold 503,300 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $35.79, for a total value of $18,013,107.00. Following the completion of the sale, the insider now owns 52,263 shares of the company’s stock, valued at approximately $1,870,492.77. The disclosure for this sale can be found here. In the last three months, insiders sold 1,592,011 shares of company stock valued at $52,506,807. Company insiders own 44.77% of the company’s stock.
AppFolio Company 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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