Zacks Investment Management reduced its stake in AppFolio Inc (NASDAQ:APPF) by 10.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,733 shares of the software maker’s stock after selling 1,660 shares during the quarter. Zacks Investment Management’s holdings in AppFolio were worth $813,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc grew its position in shares of AppFolio by 34.1% during the third quarter. Vanguard Group Inc now owns 1,668,897 shares of the software maker’s stock valued at $130,842,000 after purchasing an additional 424,004 shares in the last quarter. Vanguard Group Inc. grew its position in AppFolio by 34.1% in the third quarter. Vanguard Group Inc. now owns 1,668,897 shares of the software maker’s stock worth $130,842,000 after acquiring an additional 424,004 shares in the last quarter. Brown Advisory Inc. purchased a new position in AppFolio in the fourth quarter worth about $10,469,000. Menta Capital LLC purchased a new position in AppFolio in the fourth quarter worth about $5,279,000. Finally, First Trust Advisors LP purchased a new position in AppFolio in the fourth quarter worth about $3,644,000. 30.87% of the stock is currently owned by institutional investors.

Shares of NASDAQ:APPF opened at $75.75 on Monday. AppFolio Inc has a 1 year low of $38.50 and a 1 year high of $91.49. The company has a market cap of $2.57 billion, a price-to-earnings ratio of 135.27, a price-to-earnings-growth ratio of 5.51 and a beta of 1.22. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 0.53.

In other AppFolio news, CEO Jason Robert Randall sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $58.22, for a total transaction of $436,650.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Jonathan Walker sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, January 24th. The shares were sold at an average price of $61.81, for a total value of $1,854,300.00. Following the transaction, the chief technology officer now owns 30,000 shares of the company’s stock, valued at approximately $1,854,300. The disclosure for this sale can be found here. 41.96% of the stock is owned by insiders.

Several research firms recently commented on APPF. Zacks Investment Research upgraded AppFolio from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research report on Monday, December 31st. DA Davidson began coverage on AppFolio in a research report on Wednesday, December 5th. They issued a “neutral” rating and a $66.00 price target for the company. BidaskClub upgraded AppFolio from a “sell” rating to a “hold” rating in a research report on Tuesday, November 27th. Morgan Stanley lifted their price target on AppFolio from $56.00 to $61.00 and gave the stock an “underweight” rating in a research report on Monday, March 4th. Finally, TheStreet upgraded AppFolio from a “c+” rating to a “b-” rating in a research report on Monday, February 11th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. AppFolio has an average rating of “Hold” and a consensus price target of $64.00.

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AppFolio Company Profile

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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Institutional Ownership by Quarter for AppFolio (NASDAQ:APPF)

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