AppFolio Inc (NASDAQ:APPF) major shareholder Global Fund Ii L.P. Dragoneer sold 240,000 shares of AppFolio stock in a transaction dated Wednesday, March 22nd. The shares were sold at an average price of $23.50, for a total value of $5,640,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of AppFolio Inc (NASDAQ:APPF) opened at 26.00 on Tuesday. The stock’s market capitalization is $877.14 million. AppFolio Inc has a 1-year low of $12.00 and a 1-year high of $26.10. The firm’s 50-day moving average price is $24.40 and its 200 day moving average price is $21.85.
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Several brokerages recently weighed in on APPF. William Blair restated a “positive” rating on shares of AppFolio in a research note on Tuesday, February 28th. Credit Suisse Group AG restated a “neutral” rating and issued a $19.00 price target on shares of AppFolio in a research note on Tuesday, December 6th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $21.67.
Several institutional investors have recently modified their holdings of APPF. Wells Fargo & Company MN raised its position in shares of AppFolio by 1.9% in the third quarter. Wells Fargo & Company MN now owns 96,237 shares of the company’s stock valued at $1,871,000 after buying an additional 1,794 shares during the last quarter. State Street Corp raised its position in shares of AppFolio by 14.4% in the fourth quarter. State Street Corp now owns 96,083 shares of the company’s stock valued at $2,293,000 after buying an additional 12,096 shares during the last quarter. Laurion Capital Management LP purchased a new position in shares of AppFolio during the third quarter valued at about $754,000. Spark Investment Management LLC purchased a new position in shares of AppFolio during the third quarter valued at about $505,000. Finally, Rathbone Brothers plc purchased a new position in shares of AppFolio during the third quarter valued at about $267,000. 13.70% of the stock is currently owned by institutional investors.
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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