Victory Capital Management Inc. Buys 3,527 Shares of AppFolio, Inc. (NASDAQ:APPF)

Victory Capital Management Inc. lifted its holdings in AppFolio, Inc. (NASDAQ:APPFFree Report) by 175.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,541 shares of the software maker’s stock after buying an additional 3,527 shares during the quarter. Victory Capital Management Inc.’s holdings in AppFolio were worth $1,012,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of APPF. Fred Alger Management LLC grew its position in shares of AppFolio by 623.8% in the 4th quarter. Fred Alger Management LLC now owns 497,164 shares of the software maker’s stock worth $52,391,000 after buying an additional 428,479 shares during the period. Norges Bank purchased a new stake in shares of AppFolio in the 4th quarter worth about $17,253,000. Nellore Capital Management LLC purchased a new stake in shares of AppFolio in the 1st quarter worth about $16,069,000. Driehaus Capital Management LLC purchased a new stake in shares of AppFolio in the 2nd quarter worth about $23,042,000. Finally, Renaissance Technologies LLC grew its position in shares of AppFolio by 495.1% in the 2nd quarter. Renaissance Technologies LLC now owns 108,900 shares of the software maker’s stock worth $9,871,000 after buying an additional 90,600 shares during the period. 48.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AppFolio

In other news, insider Matthew S. Mazza sold 4,590 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $201.40, for a total value of $924,426.00. Following the transaction, the insider now owns 41,299 shares in the company, valued at approximately $8,317,618.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO William Shane Trigg sold 7,430 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $200.10, for a total value of $1,486,743.00. Following the transaction, the chief executive officer now owns 70,616 shares in the company, valued at approximately $14,130,261.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Matthew S. Mazza sold 4,590 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $201.40, for a total transaction of $924,426.00. Following the completion of the transaction, the insider now owns 41,299 shares in the company, valued at approximately $8,317,618.60. The disclosure for this sale can be found here. Company insiders own 9.15% of the company’s stock.

AppFolio Stock Performance

APPF opened at $234.20 on Tuesday. The stock has a market capitalization of $8.40 billion, a P/E ratio of 7,809.27 and a beta of 0.81. The company’s 50-day simple moving average is $189.37 and its two-hundred day simple moving average is $187.23. AppFolio, Inc. has a 52-week low of $113.58 and a 52-week high of $242.00.

Analyst Ratings Changes

A number of equities analysts recently issued reports on APPF shares. DA Davidson upped their price target on shares of AppFolio from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. BTIG Research started coverage on shares of AppFolio in a research note on Friday, January 19th. They issued a “buy” rating and a $215.00 price target on the stock. 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 note on Friday, January 26th. Stephens reiterated an “overweight” rating and issued a $241.00 price target on shares of AppFolio in a research note on Friday, January 26th. Finally, StockNews.com cut shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, December 21st. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $237.40.

Check Out Our Latest Research Report on AppFolio

AppFolio Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AppFolio (NASDAQ:APPF)

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