7,202 Shares in AppFolio, Inc. (NASDAQ:APPF) Purchased by Summit Global Investments

Summit Global Investments bought a new stake in AppFolio, Inc. (NASDAQ:APPF) in the 4th quarter, Holdings Channel reports. The institutional investor bought 7,202 shares of the software maker’s stock, valued at approximately $1,248,000.

Other large investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its position in AppFolio by 497.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 43,552 shares of the software maker’s stock worth $7,545,000 after buying an additional 36,265 shares during the period. WCM Investment Management LLC acquired a new position in AppFolio during the fourth quarter worth approximately $12,941,000. Long Walk Management LP raised its stake in AppFolio by 62.7% during the fourth quarter. Long Walk Management LP now owns 122,000 shares of the software maker’s stock worth $21,135,000 after purchasing an additional 47,000 shares during the period. Syon Capital LLC acquired a new stake in shares of AppFolio during the 4th quarter worth $9,930,000. Finally, Assenagon Asset Management S.A. raised its position in shares of AppFolio by 103.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 34,881 shares of the software maker’s stock worth $6,043,000 after buying an additional 17,706 shares during the period. Hedge funds and other institutional investors own 62.34% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on APPF shares. KeyCorp upped their price target on AppFolio from $264.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. BTIG Research assumed coverage on shares of AppFolio in a research note on Friday, January 19th. They set a “buy” rating and a $215.00 price objective for the company. Stephens reissued an “overweight” rating and issued a $241.00 price objective on shares of AppFolio in a research report on Friday, April 26th. Keefe, Bruyette & Woods lifted their target price on shares of AppFolio from $215.00 to $238.00 and gave the company a “market perform” rating in a report on Friday, April 26th. Finally, JPMorgan Chase & Co. upped their price target on shares of AppFolio from $228.00 to $237.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $241.00.

Insider Buying and Selling

In other AppFolio news, Director Timothy K. Bliss sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $227.24, for a total transaction of $2,272,400.00. Following the completion of the sale, the director now owns 51,070 shares in the company, valued at approximately $11,605,146.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other AppFolio news, Director Olivia Nottebohm sold 989 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $241.75, for a total transaction of $239,090.75. Following the completion of the sale, the director now owns 1,909 shares in the company, valued at $461,500.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Timothy K. Bliss sold 10,000 shares of AppFolio stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $227.24, for a total value of $2,272,400.00. Following the completion of the transaction, the director now owns 51,070 shares of the company’s stock, valued at $11,605,146.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,489 shares of company stock worth $3,531,011. 9.15% of the stock is currently owned by corporate insiders.

AppFolio Trading Up 1.3 %

APPF stock traded up $3.06 during trading on Friday, reaching $239.11. The stock had a trading volume of 202,482 shares, compared to its average volume of 278,308. The firm has a fifty day moving average price of $229.78 and a 200 day moving average price of $206.69. The company has a market capitalization of $8.58 billion, a P/E ratio of 115.51 and a beta of 0.79. AppFolio, Inc. has a 1-year low of $133.83 and a 1-year high of $256.73.

AppFolio Company Profile

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry in the United States. The company provides a cloud-based platform that enables users to automate and optimize common workflows; tools that assist with leasing, maintenance, and accounting; and other technology and services offered by third parties.