AppFolio, Inc. (NASDAQ:APPF) Major Shareholder Sells $2,625,750.00 in Stock

AppFolio, Inc. (NASDAQ:APPF) major shareholder Global Fund Ii L.P. Dragoneer sold 75,000 shares of AppFolio stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $35.01, for a total transaction of $2,625,750.00. Following the completion of the sale, the insider now directly owns 69,723 shares of the company’s stock, valued at approximately $2,441,002.23. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Global Fund Ii L.P. Dragoneer also recently made the following trade(s):

  • On Tuesday, August 8th, Global Fund Ii L.P. Dragoneer sold 503,300 shares of AppFolio stock. The shares were sold at an average price of $35.79, for a total transaction of $18,013,107.00.
  • On Thursday, August 3rd, Global Fund Ii L.P. Dragoneer sold 97,800 shares of AppFolio stock. The shares were sold at an average price of $34.39, for a total value of $3,363,342.00.
  • On Tuesday, July 25th, Global Fund Ii L.P. Dragoneer sold 75,000 shares of AppFolio stock. The shares were sold at an average price of $35.16, for a total value of $2,637,000.00.
  • On Thursday, July 13th, Global Fund Ii L.P. Dragoneer sold 20,911 shares of AppFolio stock. The shares were sold at an average price of $32.50, for a total value of $679,607.50.
  • On Thursday, July 6th, Global Fund Ii L.P. Dragoneer sold 100,000 shares of AppFolio stock. The shares were sold at an average price of $31.50, for a total value of $3,150,000.00.
  • On Thursday, June 15th, Global Fund Ii L.P. Dragoneer sold 50,000 shares of AppFolio stock. The shares were sold at an average price of $31.00, for a total value of $1,550,000.00.

Shares of AppFolio, Inc. (APPF) opened at 41.10 on Friday. The company has a market capitalization of $1.39 billion, a PE ratio of 1325.81 and a beta of 0.78. The stock’s 50 day moving average price is $35.06 and its 200-day moving average price is $28.97. AppFolio, Inc. has a 1-year low of $17.51 and a 1-year high of $41.30.

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APPF has been the topic of several recent analyst reports. Zacks Investment Research upgraded AppFolio from a “hold” rating to a “strong-buy” rating and set a $32.00 price objective on the stock in a research note on Thursday, May 11th. Pacific Crest restated a “hold” rating on shares of AppFolio in a research note on Monday, May 8th. Morgan Stanley raised their price objective on AppFolio to $33.00 and gave the company an “equal weight” rating in a research note on Thursday, July 20th. BidaskClub upgraded AppFolio from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 21st. Finally, Credit Suisse Group reiterated a “neutral” rating and set a $35.00 target price (up from $27.00) on shares of AppFolio in a research note on Tuesday, August 8th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $38.33.

A number of hedge funds have recently bought and sold shares of the stock. Sei Investments Co. increased its stake in AppFolio by 50,928.6% in the second quarter. Sei Investments Co. now owns 3,572 shares of the software maker’s stock valued at $117,000 after buying an additional 3,565 shares during the last quarter. American International Group Inc. increased its stake in AppFolio by 7.2% in the first quarter. American International Group Inc. now owns 4,683 shares of the software maker’s stock valued at $127,000 after buying an additional 314 shares during the last quarter. UBS Group AG increased its stake in 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. Russell Investments Group Ltd. purchased a new stake in AppFolio during the second quarter valued at $178,000. Finally, Parametric Portfolio Associates LLC purchased a new stake in AppFolio during the second quarter valued at $214,000. Institutional investors and hedge funds own 17.73% 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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