Zurcher Kantonalbank Zurich Cantonalbank Buys 648 Shares of AppFolio, Inc. (NASDAQ:APPF)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in AppFolio, Inc. (NASDAQ:APPF) by 17.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 4,369 shares of the software maker’s stock after purchasing an additional 648 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in AppFolio were worth $757,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in APPF. Vanguard Group Inc. raised its holdings in shares of AppFolio by 2.4% in the third quarter. Vanguard Group Inc. now owns 2,001,727 shares of the software maker’s stock valued at $365,575,000 after purchasing an additional 46,827 shares during the last quarter. Fred Alger Management LLC lifted its position in AppFolio by 12.2% during the 3rd quarter. Fred Alger Management LLC now owns 572,007 shares of the software maker’s stock worth $104,466,000 after buying an additional 62,347 shares in the last quarter. Northern Trust Corp boosted its stake in shares of AppFolio by 1.1% during the 3rd quarter. Northern Trust Corp now owns 202,348 shares of the software maker’s stock worth $36,955,000 after buying an additional 2,224 shares during the last quarter. Insight Holdings Group LLC grew its holdings in shares of AppFolio by 2.0% in the 3rd quarter. Insight Holdings Group LLC now owns 193,311 shares of the software maker’s stock valued at $35,304,000 after acquiring an additional 3,700 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of AppFolio in the third quarter valued at about $33,062,000. Institutional investors own 62.34% of the company’s stock.

Insider Activity

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

AppFolio Price Performance

APPF stock opened at $238.05 on Tuesday. AppFolio, Inc. has a one year low of $133.83 and a one year high of $256.73. The stock has a market cap of $8.54 billion, a price-to-earnings ratio of 115.00 and a beta of 0.80. The company has a fifty day moving average price of $229.69 and a two-hundred day moving average price of $205.61.

Wall Street Analyst Weigh In

Several research analysts recently commented on APPF shares. Keefe, Bruyette & Woods increased their price target on AppFolio from $215.00 to $238.00 and gave the company a “market perform” rating in a research report on Friday. 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 target price for the company. 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 report on Friday, January 26th. KeyCorp increased their price target on shares of AppFolio from $264.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Stephens restated an “overweight” rating and set a $241.00 price objective on shares of AppFolio in a research note on Friday. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $241.00.

About AppFolio

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.