Brown Advisory Inc. acquired a new position in AppFolio Inc (NASDAQ:APPF) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 176,802 shares of the software maker’s stock, valued at approximately $10,469,000. Brown Advisory Inc. owned about 0.52% of AppFolio at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the company. Victory Capital Management Inc. grew its stake in shares of AppFolio by 4.1% in the fourth quarter. Victory Capital Management Inc. now owns 4,112 shares of the software maker’s stock worth $244,000 after acquiring an additional 162 shares during the last quarter. Advisor Group Inc. grew its stake in shares of AppFolio by 50.6% in the fourth quarter. Advisor Group Inc. now owns 3,350 shares of the software maker’s stock worth $199,000 after acquiring an additional 1,125 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of AppFolio by 9.5% in the fourth quarter. California Public Employees Retirement System now owns 17,345 shares of the software maker’s stock worth $1,027,000 after acquiring an additional 1,508 shares during the last quarter. Teachers Advisors LLC grew its stake in shares of AppFolio by 6.3% in the third quarter. Teachers Advisors LLC now owns 29,574 shares of the software maker’s stock worth $2,319,000 after acquiring an additional 1,743 shares during the last quarter. Finally, First Quadrant L P CA grew its stake in shares of AppFolio by 95.3% in the fourth quarter. First Quadrant L P CA now owns 4,739 shares of the software maker’s stock worth $281,000 after acquiring an additional 2,312 shares during the last quarter. Institutional investors and hedge funds own 30.57% of the company’s stock.
In other AppFolio news, CTO Jonathan Walker sold 30,000 shares of AppFolio stock in a transaction on Thursday, January 24th. The shares were sold at an average price of $61.81, for a total transaction of $1,854,300.00. Following the sale, the chief technology officer now owns 30,000 shares in the company, valued at $1,854,300. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jason Robert Randall sold 7,500 shares of AppFolio stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $58.22, for a total transaction of $436,650.00. The disclosure for this sale can be found here. 41.96% of the stock is owned by insiders.
Several equities research analysts have recently issued reports on the stock. TheStreet upgraded shares of AppFolio from a “c+” rating to a “b-” rating in a research note on Monday, February 11th. BidaskClub upgraded shares of AppFolio from a “hold” rating to a “buy” rating in a research note on Monday, February 25th. DA Davidson initiated coverage on shares of AppFolio in a research note on Wednesday, December 5th. They set a “neutral” rating and a $66.00 price target on the stock. Zacks Investment Research downgraded shares of AppFolio from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 5th. Finally, Morgan Stanley lifted their price target on shares of AppFolio from $56.00 to $61.00 and gave the stock an “underweight” rating in a research note on Monday, March 4th. Two analysts have rated the stock with a sell rating, one has given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. AppFolio currently has an average rating of “Hold” and a consensus target price of $64.00.
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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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