Spark Investment Management LLC Has $1.21 Million Position in AppFolio, Inc. (APPF)

Spark Investment Management LLC boosted its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 159.4% during the second quarter, Holdings Channel reports. The firm owned 37,100 shares of the software maker’s stock after buying an additional 22,800 shares during the period. Spark Investment Management LLC’s holdings in AppFolio were worth $1,209,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in APPF. American International Group Inc. increased its position in shares of AppFolio by 7.2% in the first quarter. American International Group Inc. now owns 4,683 shares of the software maker’s stock worth $127,000 after buying an additional 314 shares during the period. Bank of New York Mellon Corp increased its position in shares of AppFolio by 9.5% in the first quarter. Bank of New York Mellon Corp now owns 28,094 shares of the software maker’s stock worth $764,000 after buying an additional 2,445 shares during the period. UBS Group AG increased its position in shares of AppFolio by 232.9% in the first quarter. UBS Group AG now owns 5,187 shares of the software maker’s stock worth $142,000 after buying an additional 3,629 shares during the period. Blair William & Co. IL increased its position in shares of AppFolio by 3.6% in the first quarter. Blair William & Co. IL now owns 109,040 shares of the software maker’s stock worth $2,710,000 after buying an additional 3,775 shares during the period. Finally, Russell Investments Group Ltd. purchased a new position in shares of AppFolio during the second quarter worth approximately $178,000. 16.85% of the stock is owned by institutional investors.

Shares of AppFolio, Inc. (NASDAQ APPF) opened at 36.65 on Thursday. The company’s 50 day moving average is $34.06 and its 200 day moving average is $28.25. AppFolio, Inc. has a one year low of $17.51 and a one year high of $38.85. The company’s market cap is $1.24 billion.

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A number of brokerages have recently commented on APPF. Credit Suisse Group reissued a “neutral” rating and issued a $35.00 price objective (up previously from $27.00) on shares of AppFolio in a research report on Tuesday. BidaskClub downgraded shares of AppFolio from a “strong-buy” rating to a “buy” rating in a report on Friday, August 4th. Morgan Stanley lifted their target price on shares of AppFolio from $33.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday. Zacks Investment Research downgraded shares of AppFolio from a “strong-buy” rating to a “hold” rating in a report on Monday, July 10th. Finally, Pacific Crest reaffirmed a “hold” rating on shares of AppFolio in a report on Monday, May 8th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $36.33.

In other AppFolio news, major shareholder Marc Stad sold 400,000 shares of the stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $30.00, for a total transaction of $12,000,000.00. Following the completion of the transaction, the insider now owns 25,780 shares in the company, valued at $773,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Global Fund Ii L.P. Dragoneer sold 50,000 shares of the stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $31.00, for a total transaction of $1,550,000.00. Following the transaction, the insider now owns 23,469 shares of the company’s stock, valued at approximately $727,539. The disclosure for this sale can be found here. Insiders have sold 1,592,011 shares of company stock valued at $52,506,807 in the last quarter. Company insiders own 44.77% of the company’s stock.

About AppFolio

AppFolio, Inc is a provider of industry-specific, cloud-based software solutions for small and medium-sized businesses (SMBs) in the property management and legal industries. The Company’s mobile-optimized software solutions enable its customers to work at any time and from anywhere across multiple devices.

Want to see what other hedge funds are holding APPF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AppFolio, Inc. (NASDAQ:APPF).

Institutional Ownership by Quarter for AppFolio (NASDAQ:APPF)

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