Renaissance Technologies LLC Buys 18,200 Shares of AppFolio, Inc. (NASDAQ:APPF)

Renaissance Technologies LLC lifted its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 7.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 249,900 shares of the software maker’s stock after acquiring an additional 18,200 shares during the period. Renaissance Technologies LLC owned approximately 0.69% of AppFolio worth $61,655,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of APPF. Rathbones Group PLC lifted its position in shares of AppFolio by 14.2% during the 4th quarter. Rathbones Group PLC now owns 6,187 shares of the software maker’s stock valued at $1,526,000 after buying an additional 771 shares in the last quarter. Polymer Capital Management US LLC bought a new position in AppFolio in the 4th quarter valued at $253,000. Cerity Partners LLC increased its holdings in AppFolio by 1.7% during the 4th quarter. Cerity Partners LLC now owns 14,898 shares of the software maker’s stock worth $3,664,000 after purchasing an additional 250 shares during the period. FMR LLC boosted its stake in shares of AppFolio by 881.2% during the fourth 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 in the last quarter. Finally, Aster Capital Management DIFC Ltd lifted its position in shares of AppFolio by 10,300.0% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 208 shares of the software maker’s stock valued at $51,000 after buying an additional 206 shares during the last quarter. Institutional investors own 85.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Stephens restated an “overweight” rating and issued a $295.00 target price on shares of AppFolio in a research note on Friday, January 31st. William Blair reiterated an “outperform” rating on shares of AppFolio in a research report on Friday, January 31st. KeyCorp lowered shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 target price for the company. in a research note on Friday, January 10th. Finally, Piper Sandler reissued a “neutral” rating and set a $265.00 target price on shares of AppFolio in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $276.29.

AppFolio Stock Performance

NASDAQ:APPF opened at $228.54 on Thursday. AppFolio, Inc. has a 1 year low of $189.01 and a 1 year high of $274.56. The business has a fifty day moving average of $218.72 and a 200-day moving average of $231.82. The stock has a market cap of $8.32 billion, a price-to-earnings ratio of 41.18 and a beta of 0.86.

AppFolio (NASDAQ:APPF) last released its earnings results on Thursday, January 30th. The software maker reported $0.58 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.34). AppFolio had a net margin of 25.69% and a return on equity of 26.21%. On average, equities research analysts predict that AppFolio, Inc. will post 3.96 EPS for the current year.

Insider Buying and Selling at AppFolio

In other news, CEO William Shane Trigg sold 3,501 shares of AppFolio stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $217.27, for a total value of $760,662.27. Following the completion of the sale, the chief executive officer now directly owns 83,824 shares of the company’s stock, valued at approximately $18,212,440.48. This trade represents a 4.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alexander Wolf purchased 9,678 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was bought at an average cost of $214.81 per share, for a total transaction of $2,078,931.18. Following the purchase, the director now owns 3,226 shares in the company, valued at $692,977.06. This trade represents a -150.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 5.24% of the company’s stock.

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.