Cubist Systematic Strategies LLC Takes $236,000 Position in AppFolio Inc (APPF)

Cubist Systematic Strategies LLC bought a new stake in AppFolio Inc (NASDAQ:APPF) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 4,928 shares of the software maker’s stock, valued at approximately $236,000.

Several other hedge funds also recently made changes to their positions in APPF. Sei Investments Co. grew its stake in shares of AppFolio by 50,928.6% in the 2nd quarter. Sei Investments Co. now owns 3,572 shares of the software maker’s stock valued at $117,000 after purchasing an additional 3,565 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of AppFolio in the 2nd quarter valued at approximately $178,000. Parametric Portfolio Associates LLC purchased a new position in shares of AppFolio in the 2nd quarter valued at approximately $214,000. The Manufacturers Life Insurance Company grew its stake in shares of AppFolio by 11.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,782 shares of the software maker’s stock valued at $254,000 after purchasing an additional 774 shares during the last quarter. Finally, Navellier & Associates Inc purchased a new position in shares of AppFolio in the 2nd quarter valued at approximately $257,000. Institutional investors own 24.85% of the company’s stock.

Shares of AppFolio Inc (APPF) opened at $42.00 on Tuesday. The company has a market capitalization of $1,410.00 and a P/E ratio of 247.06. AppFolio Inc has a 1-year low of $21.63 and a 1-year high of $52.25.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Monday, November 6th. The software maker reported $0.10 EPS for the quarter, beating the consensus estimate of $0.07 by $0.03. The business had revenue of $37.90 million during the quarter, compared to analysts’ expectations of $36.16 million. AppFolio had a return on equity of 7.91% and a net margin of 4.37%. AppFolio’s quarterly revenue was up 34.6% compared to the same quarter last year. research analysts anticipate that AppFolio Inc will post 0.25 EPS for the current year.

APPF has been the topic of several analyst reports. Zacks Investment Research downgraded AppFolio from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 10th. KeyCorp reiterated a “hold” rating on shares of AppFolio in a research note on Monday, November 6th. Morgan Stanley lifted their target price on AppFolio from $38.00 to $46.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 14th. Finally, BidaskClub cut AppFolio from a “sell” rating to a “strong sell” rating in a report on Wednesday, December 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $43.00.

In other news, insider Jonathan Walker sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $44.58, for a total value of $1,337,400.00. Following the completion of the sale, the insider now directly owns 1,554,025 shares of the company’s stock, valued at approximately $69,278,434.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Janet Kerr sold 1,576 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $43.08, for a total value of $67,894.08. Following the completion of the sale, the director now directly owns 17,189 shares of the company’s stock, valued at $740,502.12. The disclosure for this sale can be found here. 44.77% of the stock is owned by company insiders.

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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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