Renaissance Technologies LLC Lowers Stock Position in AppFolio, Inc. (NASDAQ:APPF)

Renaissance Technologies LLC reduced its stake in shares of AppFolio, Inc. (NASDAQ:APPF – Get Rating) by 11.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,000 shares of the software maker’s stock after selling 12,900 shares during the period. Renaissance Technologies LLC owned 0.27% of AppFolio worth $10,053,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. US Bancorp DE lifted its holdings in AppFolio by 206.7% in the 2nd quarter. US Bancorp DE now owns 322 shares of the software maker’s stock worth $29,000 after purchasing an additional 217 shares in the last quarter. Federated Hermes Inc. bought a new stake in AppFolio in the 1st quarter worth approximately $39,000. Tower Research Capital LLC TRC increased its stake in AppFolio by 43.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 710 shares of the software maker’s stock worth $74,000 after acquiring an additional 214 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in AppFolio by 115.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 822 shares of the software maker’s stock worth $75,000 after acquiring an additional 440 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in AppFolio in the 1st quarter worth approximately $167,000. 64.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on APPF. KeyCorp boosted their target price on AppFolio from $131.00 to $141.00 and gave the company an “overweight” rating in a research report on Friday, January 27th. DA Davidson upped their target price on AppFolio from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, January 24th. Finally, StockNews.com lowered AppFolio from a “hold” rating to a “sell” rating in a research report on Saturday, November 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $123.67.

AppFolio Price Performance

NASDAQ APPF opened at $131.23 on Tuesday. The company has a market cap of $4.65 billion, a PE ratio of -67.30 and a beta of 0.98. The stock’s 50 day simple moving average is $119.18 and its 200-day simple moving average is $112.20. AppFolio, Inc. has a 1-year low of $79.92 and a 1-year high of $135.81.

AppFolio (NASDAQ:APPF – Get Rating) last posted its earnings results on Thursday, January 26th. The software maker reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.23). AppFolio had a negative return on equity of 24.97% and a negative net margin of 14.44%. The business had revenue of $124.06 million for the quarter, compared to analyst estimates of $117.00 million. On average, equities research analysts anticipate that AppFolio, Inc. will post -1.48 EPS for the current fiscal year.

AppFolio Company Profile

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AppFolio, Inc, provides industry-specific cloud-based business software solutions, services, and data analytics for the real estate industry. The firm offers AppFolio Property Manager, a property management solution designed to address the operational and business requirements of property management companies and their business ecosystems and AppFolio Investment Management, a cloud-based software solution for real estate investment managers of various sizes that provides tools and services designed to streamline their real estate investment management businesses.