Ellington Management Group LLC purchased a new stake in shares of AppFolio (NASDAQ:APPF) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,600 shares of the software maker’s stock, valued at approximately $523,000.
Other institutional investors have also recently made changes to their positions in the company. Allianz Asset Management GmbH purchased a new stake in shares of AppFolio in the third quarter worth approximately $2,129,000. Wells Fargo & Company MN boosted its position in AppFolio by 813.6% during the 3rd quarter. Wells Fargo & Company MN now owns 171,069 shares of the software maker’s stock valued at $8,201,000 after acquiring an additional 152,345 shares in the last quarter. Macquarie Group Ltd. bought a new stake in AppFolio during the 3rd quarter valued at $954,000. JPMorgan Chase & Co. bought a new stake in AppFolio during the 3rd quarter valued at $1,886,000. Finally, State Street Corp boosted its position in AppFolio by 23.5% during the 2nd quarter. State Street Corp now owns 125,619 shares of the software maker’s stock valued at $4,095,000 after acquiring an additional 23,912 shares in the last quarter. 27.34% of the stock is owned by institutional investors.
A number of analysts have recently weighed in on APPF shares. Zacks Investment Research raised AppFolio from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research report on Monday, April 2nd. TheStreet upgraded AppFolio from a “d+” rating to a “c-” rating in a research note on Monday, February 26th. Morgan Stanley lifted their price objective on AppFolio from $46.00 to $50.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 30th. Finally, BidaskClub upgraded AppFolio from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $43.67.
In related 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 transaction of $1,075,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $850,600. The disclosure for this sale can be found here. Corporate insiders own 44.77% of the company’s stock.
Shares of NASDAQ APPF opened at $40.75 on Friday. AppFolio has a 52-week low of $25.05 and a 52-week high of $52.25. The company has a market capitalization of $1,362.72, a price-to-earnings ratio of 145.54 and a beta of 0.63.
AppFolio (NASDAQ:APPF) last issued its earnings results on Monday, February 26th. The software maker reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). AppFolio had a return on equity of 12.48% and a net margin of 6.76%. The firm had revenue of $37.90 million for the quarter, compared to analyst estimates of $35.48 million. The company’s quarterly revenue was up 35.3% compared to the same quarter last year. equities research analysts expect that AppFolio will post 0.37 EPS for the current year.
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AppFolio, Inc provides industry-specific cloud-based software solutions for small and medium-sized businesses in the property management and legal industries. It offers AppFolio Property Manager, a cloud-based software solution for the real estate market that provides property managers of various sizes and tools and services designed to streamline their property management businesses, such as posting and tracking vacancies, leasing vacant properties, and accounting, as well as facilitating tenant, owner, and vendor communications.
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