AppFolio, Inc. (NASDAQ:APPF) is Zeno Equity Partners LLP’s 5th Largest Position

Zeno Equity Partners LLP decreased its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 26.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 129,256 shares of the software maker’s stock after selling 47,669 shares during the quarter. AppFolio makes up about 9.6% of Zeno Equity Partners LLP’s holdings, making the stock its 5th largest position. Zeno Equity Partners LLP owned 0.36% of AppFolio worth $31,890,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. UMB Bank n.a. raised its position in AppFolio by 193.0% in the 4th quarter. UMB Bank n.a. now owns 167 shares of the software maker’s stock valued at $41,000 after purchasing an additional 110 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of AppFolio in the fourth quarter valued at about $50,000. EverSource Wealth Advisors LLC boosted its stake in shares of AppFolio by 1,485.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 222 shares of the software maker’s stock worth $55,000 after buying an additional 208 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of AppFolio by 60.4% during the fourth quarter. Jones Financial Companies Lllp now owns 247 shares of the software maker’s stock worth $61,000 after buying an additional 93 shares during the last quarter. Finally, Blue Trust Inc. increased its position in AppFolio by 126.5% in the 4th quarter. Blue Trust Inc. now owns 265 shares of the software maker’s stock valued at $62,000 after acquiring an additional 148 shares during the period. Institutional investors and hedge funds own 85.19% of the company’s stock.

Insiders Place Their Bets

In related news, Director Alexander Wolf acquired 9,678 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average cost of $214.81 per share, for a total transaction of $2,078,931.18. Following the transaction, the director now directly owns 3,226 shares of the company’s stock, valued at approximately $692,977.06. This trade represents a -150.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William Shane Trigg sold 3,501 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $217.27, for a total value of $760,662.27. Following the sale, the chief executive officer now owns 83,824 shares in the company, valued at approximately $18,212,440.48. This trade represents a 4.01 % decrease in their position. The disclosure for this sale can be found here. 5.24% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

APPF has been the subject of a number of recent research reports. Piper Sandler reaffirmed a “neutral” rating and set a $265.00 price objective on shares of AppFolio in a research report on Friday, January 31st. Stephens reiterated an “overweight” rating and issued a $295.00 price objective on shares of AppFolio in a research report on Friday, January 31st. William Blair restated an “outperform” rating on shares of AppFolio in a research report on Friday, January 31st. Finally, KeyCorp downgraded shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 target price on the stock. in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $276.29.

AppFolio Price Performance

Shares of NASDAQ:APPF opened at $212.82 on Wednesday. The firm has a market capitalization of $7.75 billion, a price-to-earnings ratio of 38.35 and a beta of 0.89. The business’s 50 day simple moving average is $229.90 and its 200-day simple moving average is $232.79. AppFolio, Inc. has a 12 month low of $189.01 and a 12 month high of $274.56.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, January 30th. The software maker reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.34). AppFolio had a net margin of 25.69% and a return on equity of 26.21%. On average, equities analysts anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current year.

About AppFolio

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.