Oberndorf William E lowered its stake in AppFolio, Inc. (NASDAQ:APPF) by 0.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 836,547 shares of the software maker’s stock after selling 3,250 shares during the period. AppFolio makes up approximately 27.8% of Oberndorf William E’s holdings, making the stock its 2nd biggest position. Oberndorf William E owned about 2.47% of AppFolio worth $27,271,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in APPF. Sei Investments Co. lifted its position in shares of AppFolio by 50,928.6% in the second quarter. Sei Investments Co. now owns 3,572 shares of the software maker’s stock worth $117,000 after buying an additional 3,565 shares during the last quarter. American International Group Inc. lifted its position in shares of AppFolio by 7.2% in the first quarter. American International Group Inc. now owns 4,683 shares of the software maker’s stock worth $127,000 after buying an additional 314 shares during the last quarter. UBS Group AG lifted its position in shares of AppFolio by 232.9% in the first quarter. UBS Group AG now owns 5,187 shares of the software maker’s stock worth $142,000 after buying an additional 3,629 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of AppFolio in the second quarter worth about $178,000. Finally, First Quadrant L P CA acquired a new stake in shares of AppFolio in the second quarter worth about $225,000. 20.88% of the stock is owned by institutional investors.

A number of brokerages have weighed in on APPF. BidaskClub raised AppFolio from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 17th. KeyCorp reaffirmed a “buy” rating on shares of AppFolio in a research report on Friday, August 11th. Zacks Investment Research raised AppFolio from a “hold” rating to a “strong-buy” rating and set a $42.00 price target for the company in a research report on Thursday, August 10th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $35.00 price target (up previously from $27.00) on shares of AppFolio in a research report on Tuesday, August 8th. Finally, Morgan Stanley boosted their price target on AppFolio from $33.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 8th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $38.33.

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AppFolio, Inc. (NASDAQ:APPF) traded down 0.11% during trading on Friday, hitting $44.65. The stock had a trading volume of 71,760 shares. AppFolio, Inc. has a 12-month low of $17.91 and a 12-month high of $44.95. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 1440.32 and a beta of 0.73. The stock has a 50 day moving average price of $38.57 and a 200 day moving average price of $30.76.

In related news, major shareholder Global Fund Ii L.P. Dragoneer sold 50,000 shares of the firm’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $31.00, for a total value of $1,550,000.00. Following the completion of the sale, the insider now directly owns 23,469 shares in the company, valued at approximately $727,539. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Marc Stad sold 2,227 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $36.75, for a total transaction of $81,842.25. Following the completion of the sale, the insider now owns 73,153 shares of the company’s stock, valued at $2,688,372.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,792,438 shares of company stock valued at $59,759,525. Company insiders own 44.77% of the company’s stock.

AppFolio 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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Institutional Ownership by Quarter for AppFolio (NASDAQ:APPF)

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