Zeno Equity Partners LLP Acquires Shares of 192,995 AppFolio, Inc. (NASDAQ:APPF)

Zeno Equity Partners LLP bought a new stake in AppFolio, Inc. (NASDAQ:APPF) during the fourth quarter, Holdings Channel reports. The institutional investor bought 192,995 shares of the software maker’s stock, valued at approximately $33,434,000. AppFolio accounts for 8.1% of Zeno Equity Partners LLP’s holdings, making the stock its 2nd largest holding.

A number of other large investors also recently made changes to their positions in the business. Verdence Capital Advisors LLC increased its holdings in shares of AppFolio by 2.7% in the 4th quarter. Verdence Capital Advisors LLC now owns 2,114 shares of the software maker’s stock valued at $366,000 after purchasing an additional 55 shares during the period. Harbor Capital Advisors Inc. increased its holdings in AppFolio by 3.2% in the fourth quarter. Harbor Capital Advisors Inc. now owns 3,691 shares of the software maker’s stock worth $639,000 after buying an additional 116 shares during the last quarter. Capstone Investment Advisors LLC increased its holdings in AppFolio by 5.2% in the fourth quarter. Capstone Investment Advisors LLC now owns 5,158 shares of the software maker’s stock worth $894,000 after buying an additional 257 shares during the last quarter. UBS Group AG increased its holdings in AppFolio by 2.7% in the third quarter. UBS Group AG now owns 12,232 shares of the software maker’s stock worth $2,234,000 after buying an additional 318 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in AppFolio by 1.2% in the third quarter. Rhumbline Advisers now owns 27,494 shares of the software maker’s stock worth $5,021,000 after buying an additional 319 shares during the last quarter. Institutional investors and hedge funds own 62.34% of the company’s stock.

AppFolio Trading Down 1.2 %

Shares of NASDAQ:APPF traded down $2.90 during trading on Friday, hitting $231.52. 131,899 shares of the company’s stock traded hands, compared to its average volume of 196,354. AppFolio, Inc. has a 52 week low of $162.32 and a 52 week high of $256.73. The company has a market cap of $8.38 billion, a price-to-earnings ratio of 111.85 and a beta of 0.80. The company has a 50-day moving average price of $232.12 and a 200-day moving average price of $216.35.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, April 25th. The software maker reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.09. The firm had revenue of $187.43 million for the quarter, compared to analyst estimates of $173.66 million. AppFolio had a return on equity of 13.51% and a net margin of 11.38%. On average, analysts predict that AppFolio, Inc. will post 2.85 earnings per share for the current fiscal year.

Insider Activity

In other AppFolio news, Director Timothy K. Bliss sold 12,170 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $241.31, for a total value of $2,936,742.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other AppFolio news, Director Timothy K. Bliss sold 41,730 shares of AppFolio stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $232.32, for a total value of $9,694,713.60. Following the completion of the sale, the director now directly owns 58,270 shares in the company, valued at $13,537,286.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Timothy K. Bliss sold 12,170 shares of AppFolio stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $241.31, for a total value of $2,936,742.70. The disclosure for this sale can be found here. In the last three months, insiders sold 87,431 shares of company stock worth $20,691,480. 9.15% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

APPF has been the topic of a number of research reports. KeyCorp increased their price objective on AppFolio from $264.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Keefe, Bruyette & Woods increased their price objective on AppFolio from $215.00 to $238.00 and gave the stock a “market perform” rating in a report on Friday, April 26th. Stephens reiterated an “overweight” rating and set a $241.00 price target on shares of AppFolio in a report on Friday, April 26th. Finally, Piper Sandler initiated coverage on AppFolio in a report on Monday, June 10th. They set an “overweight” rating and a $295.00 price target on the stock. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $248.71.

AppFolio Company Profile

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry in the United States. The company provides a cloud-based platform that enables users to automate and optimize common workflows; tools that assist with leasing, maintenance, and accounting; and other technology and services offered by third parties.