Verition Fund Management LLC Invests $406,000 in AppFolio, Inc. (NASDAQ:APPF)

Verition Fund Management LLC acquired a new position in shares of AppFolio, Inc. (NASDAQ:APPF – Get Rating) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,879 shares of the software maker’s stock, valued at approximately $406,000.

A number of other institutional investors have also recently bought and sold shares of the company. Echo Street Capital Management LLC raised its stake in shares of AppFolio by 142.2% during the 2nd quarter. Echo Street Capital Management LLC now owns 1,095,413 shares of the software maker’s stock worth $99,288,000 after purchasing an additional 643,119 shares in the last quarter. Dynamo Internacional Gestao DE Recursos LTDA. raised its position in AppFolio by 10.8% during the second quarter. Dynamo Internacional Gestao DE Recursos LTDA. now owns 846,716 shares of the software maker’s stock valued at $76,746,000 after acquiring an additional 82,533 shares in the last quarter. State Street Corp raised its position in AppFolio by 1.0% during the first quarter. State Street Corp now owns 408,926 shares of the software maker’s stock valued at $46,295,000 after acquiring an additional 3,877 shares in the last quarter. Long Path Partners LP acquired a new stake in AppFolio in the third quarter valued at approximately $18,175,000. Finally, Nellore Capital Management LLC bought a new stake in AppFolio in the first quarter worth approximately $16,069,000. Institutional investors and hedge funds own 64.79% of the company’s stock.

AppFolio Trading Down 3.3 %

NASDAQ APPF opened at $126.86 on Wednesday. AppFolio, Inc. has a 1 year low of $79.92 and a 1 year high of $135.81. The company has a fifty day simple moving average of $119.68 and a 200 day simple moving average of $112.34. The company has a market cap of $4.49 billion, a P/E ratio of -65.06 and a beta of 0.98.

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

Wall Street Analyst Weigh In

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

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.