Ellington Management Group LLC purchased a new stake in AppFolio Inc (NASDAQ:APPF) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,600 shares of the software maker’s stock, valued at approximately $523,000.
A number of other large investors have also bought and sold shares of the business. Goldman Sachs Group Inc. boosted its holdings in AppFolio by 26.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 125,748 shares of the software maker’s stock valued at $5,218,000 after purchasing an additional 26,320 shares during the last quarter. Stone Ridge Asset Management LLC purchased a new stake in shares of AppFolio during the 4th quarter worth about $372,000. Keenan Capital LLC purchased a new stake in shares of AppFolio during the 4th quarter worth about $10,375,000. Renaissance Technologies LLC boosted its stake in shares of AppFolio by 32.8% during the 4th quarter. Renaissance Technologies LLC now owns 472,000 shares of the software maker’s stock worth $19,588,000 after acquiring an additional 116,600 shares in the last quarter. Finally, AXA purchased a new stake in shares of AppFolio during the 4th quarter worth about $369,000. 27.34% of the stock is currently owned by institutional investors.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of AppFolio from a “sell” rating to a “hold” rating in a research note on Friday, March 2nd. TheStreet raised shares of AppFolio from a “d+” rating to a “c-” rating in a research note on Monday, February 26th. BidaskClub raised shares of AppFolio from a “sell” rating to a “hold” rating in a research note on Thursday, February 22nd. Finally, Morgan Stanley increased their target price on shares of AppFolio from $46.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 30th. Six analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and an average target price of $44.33.
AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Monday, February 26th. The software maker reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.02). The company had revenue of $37.90 million during the quarter, compared to analysts’ expectations of $35.48 million. AppFolio had a net margin of 6.76% and a return on equity of 12.48%. The firm’s revenue was up 35.3% on a year-over-year basis. analysts predict that AppFolio Inc will post 0.37 EPS for the current year.
In other AppFolio news, CEO Jason Robert Randall sold 25,000 shares of the stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $43.00, for a total value of $1,075,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William R. Rauth III sold 20,000 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $42.53, for a total transaction of $850,600.00. Following the completion of the sale, the director now owns 20,000 shares of the company’s stock, valued at approximately $850,600. The disclosure for this sale can be found here. Company insiders own 44.77% of the company’s stock.
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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.
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