Stone Ridge Asset Management LLC Invests $372,000 in AppFolio Inc (APPF)

Stone Ridge Asset Management LLC purchased a new position in AppFolio Inc (NASDAQ:APPF) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 8,962 shares of the software maker’s stock, valued at approximately $372,000.

Several other large investors also recently bought and sold shares of the company. Keenan Capital LLC bought a new position in shares of AppFolio in the 4th quarter worth $10,375,000. Renaissance Technologies LLC raised its stake in 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 buying an additional 116,600 shares during the period. AXA acquired a new stake in AppFolio during the 4th quarter worth $369,000. Alliancebernstein L.P. raised its stake in AppFolio by 431.9% during the 4th quarter. Alliancebernstein L.P. now owns 36,700 shares of the software maker’s stock worth $1,523,000 after buying an additional 29,800 shares during the period. Finally, Geode Capital Management LLC raised its stake in AppFolio by 11.3% during the 4th quarter. Geode Capital Management LLC now owns 130,445 shares of the software maker’s stock worth $5,413,000 after buying an additional 13,269 shares during the period. Institutional investors and hedge funds own 27.34% of the company’s stock.

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In other AppFolio news, CEO Jason Robert Randall sold 25,000 shares of AppFolio stock in a transaction dated Friday, January 26th. The stock was 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 SEC, which is accessible through this link. Also, Director William R. Rauth III sold 20,000 shares of AppFolio stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $42.53, for a total value of $850,600.00. Following the completion of the sale, the director now directly owns 20,000 shares in the company, valued at approximately $850,600. The disclosure for this sale can be found here. Company insiders own 44.77% of the company’s stock.

Several analysts recently commented on APPF shares. BidaskClub downgraded AppFolio from a “sell” rating to a “strong sell” rating in a research note on Wednesday, December 27th. TheStreet raised AppFolio from a “d+” rating to a “c-” rating in a research note on Monday, February 26th. Zacks Investment Research raised AppFolio from a “sell” rating to a “hold” rating in a research note on Friday, March 2nd. Finally, Morgan Stanley raised their price objective on AppFolio from $46.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 30th. Six research analysts have rated the stock with a hold rating, AppFolio currently has a consensus rating of “Hold” and an average target price of $44.33.

Shares of AppFolio stock opened at $40.85 on Friday. The firm has a market cap of $1,391.68, a P/E ratio of 151.30 and a beta of 0.63. AppFolio Inc has a 12 month low of $25.05 and a 12 month high of $52.25.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Monday, February 26th. The software maker reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.02). The business had revenue of $37.90 million for the quarter, compared to analyst estimates of $35.48 million. AppFolio had a return on equity of 12.48% and a net margin of 6.76%. The firm’s revenue was up 35.3% on a year-over-year basis. analysts expect that AppFolio Inc will post 0.37 earnings per share for the current fiscal year.

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AppFolio Profile

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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Institutional Ownership by Quarter for AppFolio (NASDAQ:APPF)

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