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

Renaissance Technologies LLC boosted its stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 7.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 249,900 shares of the software maker's stock after purchasing an additional 18,200 shares during the quarter. Renaissance Technologies LLC owned about 0.69% of AppFolio worth $61,655,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in AppFolio by 998.0% in the third quarter. FMR LLC now owns 60,894 shares of the software maker's stock worth $14,334,000 after acquiring an additional 55,348 shares during the period. Janus Henderson Group PLC raised its position in shares of AppFolio by 2.4% in the 3rd quarter. Janus Henderson Group PLC now owns 9,353 shares of the software maker's stock valued at $2,200,000 after purchasing an additional 215 shares during the last quarter. Stifel Financial Corp raised its holdings in shares of AppFolio by 45.0% in the third quarter. Stifel Financial Corp now owns 1,853 shares of the software maker's stock worth $436,000 after buying an additional 575 shares during the last quarter. State Street Corp increased its position in shares of AppFolio by 8.2% in the 3rd quarter. State Street Corp now owns 653,136 shares of the software maker's stock valued at $153,748,000 after acquiring an additional 49,238 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of AppFolio by 5.3% during the third quarter. Public Employees Retirement System of Ohio now owns 8,824 shares of the software maker's stock worth $2,077,000 after purchasing an additional 442 shares during the period. 85.19% of the stock is owned by institutional investors.

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Insider Buying and Selling

In other news, insider Matthew S. Mazza sold 838 shares of the business's stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $255.30, for a total transaction of $213,941.40. Following the transaction, the insider now directly owns 22,701 shares in the company, valued at $5,795,565.30. The trade was a 3.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alexander Wolf acquired 9,678 shares of the firm's stock in a transaction on Thursday, February 13th. The stock was purchased at an average cost of $214.81 per share, for a total transaction of $2,078,931.18. Following the completion of the acquisition, the director now owns 3,226 shares in the company, valued at approximately $692,977.06. This represents a -150.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 5.24% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Stephens reiterated an "overweight" rating and set a $295.00 price target on shares of AppFolio in a research report on Friday, January 31st. DA Davidson cut their target price on AppFolio from $300.00 to $275.00 and set a "buy" rating for the company in a research note on Monday. KeyCorp downgraded AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 price objective on the stock. in a report on Friday, January 10th. Piper Sandler reiterated a "neutral" rating and issued a $265.00 price objective on shares of AppFolio in a research note on Friday, January 31st. Finally, William Blair reissued an "outperform" rating on shares of AppFolio in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $272.71.

AppFolio Trading Down 1.1 %

APPF stock traded down $2.42 on Tuesday, hitting $225.15. 34,846 shares of the company's stock traded hands, compared to its average volume of 264,153. AppFolio, Inc. has a 1-year low of $189.01 and a 1-year high of $274.56. The stock has a market cap of $8.20 billion, a price-to-earnings ratio of 40.57 and a beta of 0.86. The stock has a fifty day moving average of $218.20 and a 200-day moving average of $231.57.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The software maker reported $0.58 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.92 by ($0.34). AppFolio had a return on equity of 26.21% and a net margin of 25.69%. On average, equities research analysts anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

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.