Skandinaviska Enskilda Banken AB publ Acquires New Position in AppFolio, Inc. (NASDAQ:APPF)

Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of AppFolio, Inc. (NASDAQ:APPF) in the first quarter, HoldingsChannel reports. The fund acquired 2,500 shares of the software maker’s stock, valued at approximately $550,000.

Other institutional investors have also modified their holdings of the company. AQR Capital Management LLC boosted its stake in AppFolio by 43.2% during the 4th quarter. AQR Capital Management LLC now owns 655,625 shares of the software maker’s stock valued at $161,756,000 after purchasing an additional 197,700 shares during the period. FMR LLC boosted its stake in AppFolio by 881.2% during the 4th quarter. FMR LLC now owns 597,485 shares of the software maker’s stock valued at $147,411,000 after purchasing an additional 536,591 shares during the period. Gilder Gagnon Howe & Co. LLC boosted its stake in AppFolio by 4.7% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 572,917 shares of the software maker’s stock valued at $141,350,000 after purchasing an additional 25,566 shares during the period. Kayne Anderson Rudnick Investment Management LLC acquired a new position in AppFolio during the 4th quarter valued at about $103,503,000. Finally, Geode Capital Management LLC boosted its stake in AppFolio by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 416,508 shares of the software maker’s stock valued at $102,791,000 after purchasing an additional 3,476 shares during the period. Institutional investors own 85.19% of the company’s stock.

Insider Buying and Selling

In related news, CFO Timothy Mathias Eaton sold 1,057 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $221.13, for a total transaction of $233,734.41. Following the completion of the sale, the chief financial officer directly owned 7,176 shares of the company’s stock, valued at $1,586,828.88. This represents a 12.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Donald Casey III bought 4,000 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The shares were acquired at an average cost of $217.73 per share, with a total value of $870,920.00. Following the completion of the purchase, the director owned 27,856 shares of the company’s stock, valued at approximately $6,065,086.88. The trade was a 16.77% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 18,500 shares of company stock worth $4,024,220 and sold 11,639 shares worth $2,547,802. 4.68% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Piper Sandler boosted their target price on shares of AppFolio from $208.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. DA Davidson raised shares of AppFolio to a “strong-buy” rating in a research note on Tuesday, July 22nd. Finally, Keefe, Bruyette & Woods reduced their price target on shares of AppFolio from $210.00 to $205.00 and set an “underweight” rating for the company in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $253.60.

AppFolio Trading Up 0.0%

Shares of NASDAQ:APPF opened at $260.58 on Wednesday. The company has a 50 day moving average of $231.46 and a 200-day moving average of $225.93. The firm has a market cap of $9.39 billion, a P/E ratio of 48.62 and a beta of 0.88. AppFolio, Inc. has a twelve month low of $189.01 and a twelve month high of $273.00.

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.