Picton Mahoney Asset Management Purchases New Stake in AppFolio, Inc. (NASDAQ:APPF)

Picton Mahoney Asset Management purchased a new stake in AppFolio, Inc. (NASDAQ:APPF) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,722 shares of the software maker’s stock, valued at approximately $2,204,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. acquired a new stake in shares of AppFolio during the fourth quarter worth $85,000. Headlands Technologies LLC bought a new position in shares of AppFolio during the fourth quarter worth about $85,000. First Foundation Advisors bought a new position in shares of AppFolio during the third quarter worth about $209,000. Handelsinvest Investeringsforvaltning bought a new position in shares of AppFolio during the fourth quarter worth about $240,000. Finally, Pathstone Family Office LLC bought a new position in shares of AppFolio during the third quarter worth about $260,000. 62.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

AppFolio Price Performance

NASDAQ APPF opened at $244.91 on Thursday. The company has a 50 day simple moving average of $230.20 and a 200-day simple moving average of $208.22. The firm has a market capitalization of $8.87 billion, a price-to-earnings ratio of 118.31 and a beta of 0.79. AppFolio, Inc. has a 52-week low of $136.69 and a 52-week high of $256.73.

Insider Buying and Selling at AppFolio

In other news, Director Timothy K. Bliss sold 10,000 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $227.24, for a total transaction of $2,272,400.00. Following the transaction, the director now owns 51,070 shares in the company, valued at approximately $11,605,146.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Timothy K. Bliss sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $227.24, for a total value of $2,272,400.00. Following the transaction, the director now directly owns 51,070 shares of the company’s stock, valued at approximately $11,605,146.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Blottnitz Andreas Von sold 4,500 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $226.56, for a total value of $1,019,520.00. Following the sale, the director now directly owns 5,449 shares of the company’s stock, valued at approximately $1,234,525.44. The disclosure for this sale can be found here. Insiders sold 15,489 shares of company stock worth $3,531,011 over the last ninety days. 9.15% of the stock is currently owned by insiders.

AppFolio 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.