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

Renaissance Technologies LLC raised its stake in AppFolio, Inc. (NASDAQ:APPF) by 7.9% during the fourth quarter, Holdings Channel reports. The fund owned 249,900 shares of the software maker’s stock after buying an additional 18,200 shares during the period. Renaissance Technologies LLC’s holdings in AppFolio were worth $61,655,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rathbones Group PLC grew its position in shares of AppFolio by 14.2% in the fourth quarter. Rathbones Group PLC now owns 6,187 shares of the software maker’s stock valued at $1,526,000 after purchasing an additional 771 shares in the last quarter. Polymer Capital Management US LLC bought a new position in AppFolio in the 4th quarter worth about $253,000. Cerity Partners LLC grew 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 valued at $3,664,000 after buying an additional 250 shares in the last quarter. FMR LLC increased its position 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 buying an additional 536,591 shares during the period. Finally, Aster Capital Management DIFC Ltd lifted its holdings in shares of AppFolio by 10,300.0% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 208 shares of the software maker’s stock worth $51,000 after buying an additional 206 shares in the last quarter. 85.19% of the stock is owned by institutional investors.

Insider Buying and Selling at AppFolio

In other news, Director Alexander Wolf bought 9,678 shares of the stock in a transaction on 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 completion of the purchase, the director now directly owns 3,226 shares in the company, valued at approximately $692,977.06. The trade was a -150.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Matthew S. Mazza sold 838 shares of AppFolio stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $255.30, for a total transaction of $213,941.40. Following the sale, the insider now owns 22,701 shares of the company’s stock, valued at $5,795,565.30. The trade was a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.24% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have weighed in on APPF shares. Piper Sandler reaffirmed a “neutral” rating and issued a $265.00 price target on shares of AppFolio in a report on Friday, January 31st. Stephens reaffirmed an “overweight” rating and set a $295.00 target price on shares of AppFolio in a research note on Friday, January 31st. William Blair reaffirmed an “outperform” rating on shares of AppFolio in a research note on Friday, January 31st. Finally, KeyCorp cut AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price objective on the stock. in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $276.29.

AppFolio Trading Up 9.7 %

AppFolio stock opened at $228.54 on Thursday. The firm has a 50 day moving average of $218.72 and a 200 day moving average of $231.82. AppFolio, Inc. has a 12-month low of $189.01 and a 12-month high of $274.56. The firm has a market capitalization of $8.32 billion, a price-to-earnings ratio of 41.18 and a beta of 0.86.

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

AppFolio Company 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.