Summit Global Investments Acquires New Position in AppFolio, Inc. (NASDAQ:APPF)

Summit Global Investments bought a new position in AppFolio, Inc. (NASDAQ:APPF - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 7,202 shares of the software maker's stock, valued at approximately $1,248,000.

Other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its position in AppFolio by 497.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 43,552 shares of the software maker's stock valued at $7,545,000 after buying an additional 36,265 shares in the last quarter. WCM Investment Management LLC bought a new position in AppFolio during the 4th quarter valued at approximately $12,941,000. Long Walk Management LP increased its position in AppFolio by 62.7% during the 4th quarter. Long Walk Management LP now owns 122,000 shares of the software maker's stock valued at $21,135,000 after buying an additional 47,000 shares in the last quarter. Syon Capital LLC bought a new position in AppFolio during the 4th quarter valued at approximately $9,930,000. Finally, Assenagon Asset Management S.A. increased its position in AppFolio by 103.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 34,881 shares of the software maker's stock valued at $6,043,000 after buying an additional 17,706 shares in the last quarter. Institutional investors own 62.34% of the company's stock.

Analyst Upgrades and Downgrades

APPF has been the subject of a number of analyst reports. Keefe, Bruyette & Woods raised their price objective on AppFolio from $215.00 to $238.00 and gave the company a "market perform" rating in a research report on Friday, April 26th. JPMorgan Chase & Co. lifted their price objective on AppFolio from $228.00 to $237.00 and gave the stock an "overweight" rating in a report on Friday, January 26th. KeyCorp upped their target price on shares of AppFolio from $264.00 to $275.00 and gave the company 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 issued a "buy" rating and a $215.00 price target for the company. Finally, Stephens restated an "overweight" rating and issued a $241.00 target price on shares of AppFolio in a report on Friday, April 26th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $241.00.

AppFolio Price Performance

Shares of NASDAQ:APPF traded up $3.06 during midday trading on Friday, hitting $239.11. The company had a trading volume of 202,482 shares, compared to its average volume of 278,308. The company has a market cap of $8.58 billion, a price-to-earnings ratio of 115.51 and a beta of 0.79. The company has a fifty day moving average of $229.78 and a two-hundred day moving average of $206.83. AppFolio, Inc. has a 12-month low of $133.83 and a 12-month high of $256.73.

Insiders Place Their Bets

In other AppFolio news, Director Blottnitz Andreas Von sold 4,500 shares of the company's stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $226.56, for a total value of $1,019,520.00. Following the completion of the transaction, the director now directly owns 5,449 shares in the company, valued at $1,234,525.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Olivia Nottebohm sold 989 shares of the company's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $241.75, for a total value of $239,090.75. Following the completion of the transaction, the director now owns 1,909 shares of the company's stock, valued at $461,500.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Blottnitz Andreas Von sold 4,500 shares of the company's stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $226.56, for a total value of $1,019,520.00. Following the completion of the transaction, the director now directly owns 5,449 shares of the company's stock, valued at approximately $1,234,525.44. The disclosure for this sale can be found here. Insiders sold a total of 15,489 shares of company stock worth $3,531,011 over the last quarter. 9.15% of the stock is currently owned by corporate insiders.

AppFolio 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.