Picton Mahoney Asset Management Acquires New Holdings in AppFolio, Inc. (NASDAQ:APPF)

Picton Mahoney Asset Management purchased a new stake in AppFolio, Inc. (NASDAQ:APPF) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,722 shares of the software maker’s stock, valued at approximately $2,204,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its position in AppFolio by 13.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 170,239 shares of the software maker’s stock valued at $29,492,000 after acquiring an additional 20,166 shares during the period. Private Advisor Group LLC increased its position in shares of AppFolio by 19.9% during the fourth quarter. Private Advisor Group LLC now owns 2,100 shares of the software maker’s stock worth $364,000 after buying an additional 348 shares during the period. Summit Global Investments acquired a new stake in shares of AppFolio during the fourth quarter worth $1,248,000. Los Angeles Capital Management LLC increased its position in shares of AppFolio by 61.3% during the fourth quarter. Los Angeles Capital Management LLC now owns 17,367 shares of the software maker’s stock worth $3,009,000 after buying an additional 6,600 shares during the period. Finally, Natixis Advisors L.P. increased its position in shares of AppFolio by 15.6% during the fourth quarter. Natixis Advisors L.P. now owns 20,313 shares of the software maker’s stock worth $3,519,000 after buying an additional 2,747 shares during the period. 62.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

AppFolio Trading Down 1.4 %

AppFolio stock opened at $244.91 on Thursday. AppFolio, Inc. has a 1-year low of $136.69 and a 1-year high of $256.73. The firm has a market capitalization of $8.87 billion, a price-to-earnings ratio of 118.31 and a beta of 0.79. The firm’s fifty day moving average price is $230.20 and its two-hundred day moving average price is $208.22.

Insider Buying and Selling at AppFolio

In related news, Director Blottnitz Andreas Von sold 4,500 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $226.56, for a total transaction of $1,019,520.00. Following the transaction, the director now directly owns 5,449 shares of the company’s stock, valued at $1,234,525.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Timothy K. Bliss sold 10,000 shares of AppFolio stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $227.24, for a total value of $2,272,400.00. Following the completion of the transaction, the director now owns 51,070 shares in the company, valued at $11,605,146.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Blottnitz Andreas Von sold 4,500 shares of AppFolio stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $226.56, for a total transaction of $1,019,520.00. Following the completion of the transaction, the director now 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. Over the last three months, insiders have sold 15,489 shares of company stock valued at $3,531,011. Corporate 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.