Alps Advisors Inc. purchased a new position in shares of AppFolio Inc (NASDAQ:APPF) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,671 shares of the software maker’s stock, valued at approximately $445,000.
Several other hedge funds also recently added to or reduced their stakes in APPF. Victory Capital Management Inc. boosted its holdings in AppFolio by 15.9% in the second quarter. Victory Capital Management Inc. now owns 6,476 shares of the software maker’s stock worth $396,000 after purchasing an additional 888 shares during the period. Globeflex Capital L P boosted its holdings in AppFolio by 11.9% in the second quarter. Globeflex Capital L P now owns 11,300 shares of the software maker’s stock worth $691,000 after purchasing an additional 1,200 shares during the period. Metropolitan Life Insurance Co. NY boosted its holdings in AppFolio by 60.5% in the second quarter. Metropolitan Life Insurance Co. NY now owns 4,857 shares of the software maker’s stock worth $297,000 after purchasing an additional 1,831 shares during the period. Northern Trust Corp boosted its holdings in AppFolio by 1.8% in the first quarter. Northern Trust Corp now owns 127,099 shares of the software maker’s stock worth $5,192,000 after purchasing an additional 2,220 shares during the period. Finally, MetLife Investment Advisors LLC boosted its holdings in AppFolio by 68.7% in the second quarter. MetLife Investment Advisors LLC now owns 6,877 shares of the software maker’s stock worth $421,000 after purchasing an additional 2,800 shares during the period. 30.02% of the stock is owned by institutional investors and hedge funds.
APPF stock opened at $59.49 on Friday. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 212.46 and a beta of 1.41. AppFolio Inc has a 1 year low of $37.56 and a 1 year high of $91.49.
A number of research firms have commented on APPF. BidaskClub raised shares of AppFolio from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 16th. Morgan Stanley lifted their price objective on shares of AppFolio from $52.00 to $56.00 and gave the stock a “sell” rating in a report on Tuesday, July 31st. Zacks Investment Research raised shares of AppFolio from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Thursday, August 2nd. Finally, TheStreet downgraded shares of AppFolio from a “b-” rating to a “c+” rating in a report on Thursday, November 1st. Three investment analysts have rated the stock with a sell rating and one has assigned a buy rating to the company. AppFolio currently has an average rating of “Hold” and a consensus price target of $70.50.
In other AppFolio news, Director William R. Rauth III sold 20,000 shares of the firm’s stock in a transaction on Monday, October 15th. The stock was sold at an average price of $63.40, for a total value of $1,268,000.00. Following the sale, the director now directly owns 20,000 shares in the company, valued at $1,268,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan Walker sold 30,000 shares of the firm’s stock in a transaction on Thursday, October 4th. The shares were sold at an average price of $73.03, for a total value of $2,190,900.00. Following the completion of the sale, the insider now owns 30,000 shares in the company, valued at $2,190,900. The disclosure for this sale can be found here. Company insiders own 41.96% of the company’s stock.
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AppFolio, Inc provides industry-specific cloud-based software solutions for small and medium-sized businesses in the property management and legal industries. It offers AppFolio Property Manager, a cloud-based software solution for the real estate market that provides property managers of various sizes and tools and services designed to streamline their property management businesses, such as posting and tracking vacancies, leasing vacant properties, and accounting, as well as facilitating tenant, owner, and vendor communications.
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