Mission Wealth Management LP Reduces Holdings in AppFolio, Inc. (NASDAQ:APPF)

Mission Wealth Management LP decreased its position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 19.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 37,765 shares of the software maker's stock after selling 9,000 shares during the quarter. Mission Wealth Management LP owned approximately 0.11% of AppFolio worth $6,542,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new position in shares of AppFolio during the fourth quarter worth about $85,000. Headlands Technologies LLC acquired a new stake in shares of AppFolio during the fourth quarter worth about $85,000. First Foundation Advisors acquired a new stake in shares of AppFolio during the third quarter worth about $209,000. Handelsinvest Investeringsforvaltning acquired a new stake in shares of AppFolio during the fourth quarter worth about $240,000. Finally, Pathstone Family Office LLC acquired a new stake in shares of AppFolio during the third quarter worth about $260,000. Hedge funds and other institutional investors own 62.34% of the company's stock.

Analysts Set New Price Targets

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

AppFolio Price Performance

AppFolio stock traded down $11.27 during mid-day trading on Tuesday, reaching $226.78. The company had a trading volume of 449,293 shares, compared to its average volume of 316,619. AppFolio, Inc. has a 1 year low of $133.83 and a 1 year high of $256.73. The company has a market capitalization of $8.13 billion, a P/E ratio of 109.56 and a beta of 0.80. The stock's 50-day simple moving average is $229.69 and its 200-day simple moving average is $205.61.

Insider Buying and Selling at AppFolio

In other AppFolio news, Director Blottnitz Andreas Von sold 4,500 shares of the 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 completion of the transaction, the director now directly owns 5,449 shares of the company's stock, valued at $1,234,525.44. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Blottnitz Andreas Von sold 4,500 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 5,449 shares of the company's stock, valued at approximately $1,234,525.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction of $2,272,400.00. Following the transaction, the director now directly owns 51,070 shares of the company's stock, valued at $11,605,146.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,489 shares of company stock valued at $3,531,011. Corporate insiders own 9.15% of the company's stock.

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.

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