Syon Capital LLC Takes Position in AppFolio, Inc. (NASDAQ:APPF)

Syon Capital LLC acquired a new stake in AppFolio, Inc. (NASDAQ:APPF) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 57,321 shares of the software maker’s stock, valued at approximately $9,930,000. AppFolio accounts for 0.7% of Syon Capital LLC’s investment portfolio, making the stock its 26th largest holding. Syon Capital LLC owned approximately 0.16% of AppFolio as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in AppFolio by 2.4% during the third quarter. Vanguard Group Inc. now owns 2,001,727 shares of the software maker’s stock worth $365,575,000 after acquiring an additional 46,827 shares during the last quarter. Fred Alger Management LLC raised its position in AppFolio by 12.2% during the third quarter. Fred Alger Management LLC now owns 572,007 shares of the software maker’s stock worth $104,466,000 after acquiring an additional 62,347 shares during the last quarter. Northern Trust Corp raised its position in AppFolio by 1.1% during the third quarter. Northern Trust Corp now owns 202,348 shares of the software maker’s stock worth $36,955,000 after acquiring an additional 2,224 shares during the last quarter. Insight Holdings Group LLC raised its position in AppFolio by 2.0% during the third quarter. Insight Holdings Group LLC now owns 193,311 shares of the software maker’s stock worth $35,304,000 after acquiring an additional 3,700 shares during the last quarter. Finally, Lord Abbett & CO. LLC purchased a new stake in shares of AppFolio during the third quarter worth about $33,062,000. Institutional investors and hedge funds own 62.34% of the company’s stock.

AppFolio Stock Performance

NASDAQ APPF traded up $26.10 on Friday, reaching $242.75. The company’s stock had a trading volume of 714,638 shares, compared to its average volume of 313,030. AppFolio, Inc. has a twelve month low of $123.36 and a twelve month high of $256.73. The stock has a market cap of $8.71 billion, a PE ratio of 8,062.02 and a beta of 0.80. The firm’s 50 day moving average is $229.89 and its two-hundred day moving average is $204.61.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings data on Thursday, January 25th. The software maker reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.29. The company had revenue of $171.83 million during the quarter, compared to analyst estimates of $162.80 million. AppFolio had a net margin of 0.44% and a negative return on equity of 8.58%. Equities research analysts anticipate that AppFolio, Inc. will post 2.66 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on APPF shares. JPMorgan Chase & Co. lifted their price target on shares of AppFolio from $228.00 to $237.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. BTIG Research started coverage on shares of AppFolio in a report on Friday, January 19th. They set a “buy” rating and a $215.00 price target for the company. Keefe, Bruyette & Woods lifted their price target on shares of AppFolio from $215.00 to $238.00 and gave the stock a “market perform” rating in a report on Friday. Stephens restated an “overweight” rating and issued a $241.00 target price on shares of AppFolio in a report on Friday. Finally, KeyCorp boosted their target price on shares of AppFolio from $264.00 to $275.00 and gave the company an “overweight” rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $241.00.

Insider Buying and Selling at AppFolio

In related news, Director Olivia Nottebohm sold 989 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $241.75, for a total value of $239,090.75. Following the completion of the transaction, the director now directly owns 1,909 shares of the company’s stock, valued at $461,500.75. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Olivia Nottebohm sold 989 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $241.75, for a total transaction of $239,090.75. Following the completion of the transaction, the director now directly owns 1,909 shares in the company, valued at approximately $461,500.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Blottnitz Andreas Von sold 4,500 shares of AppFolio stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $226.56, for a total value of $1,019,520.00. Following the transaction, the director now owns 5,449 shares in the company, valued at approximately $1,234,525.44. The disclosure for this sale can be found here. Insiders have sold a total of 15,489 shares of company stock worth $3,531,011 over the last 90 days. Insiders own 9.15% of the company’s stock.

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.