Picton Mahoney Asset Management Buys Shares of 12,722 AppFolio, Inc. (NASDAQ:APPF)

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

A number of other institutional investors have also recently made changes to their positions in the company. Verdence Capital Advisors LLC grew its stake in AppFolio by 7.2% in the 3rd quarter. Verdence Capital Advisors LLC now owns 2,059 shares of the software maker's stock valued at $376,000 after buying an additional 139 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of AppFolio by 20.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,721 shares of the software maker's stock valued at $680,000 after purchasing an additional 636 shares during the period. Mackenzie Financial Corp lifted its holdings in AppFolio by 28.8% during the 3rd quarter. Mackenzie Financial Corp now owns 9,925 shares of the software maker's stock worth $1,798,000 after purchasing an additional 2,220 shares in the last quarter. Jennison Associates LLC bought a new position in AppFolio in the 3rd quarter worth about $372,000. Finally, Teacher Retirement System of Texas grew its holdings in AppFolio by 121.6% during the 3rd quarter. Teacher Retirement System of Texas now owns 7,337 shares of the software maker's stock valued at $1,340,000 after buying an additional 4,026 shares in the last quarter. Hedge funds and other institutional investors own 62.34% of the company's stock.

AppFolio Stock Up 0.2 %

Shares of NASDAQ APPF traded up $0.39 during trading hours on Thursday, reaching $245.30. 202,839 shares of the stock traded hands, compared to its average volume of 311,079. The company's 50-day simple moving average is $230.20 and its two-hundred day simple moving average is $208.22. The company has a market capitalization of $8.88 billion, a P/E ratio of 118.31 and a beta of 0.79. AppFolio, Inc. has a 52-week low of $138.49 and a 52-week high of $256.73.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other AppFolio news, Director Olivia Nottebohm sold 989 shares of AppFolio stock in a transaction that occurred 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 transaction, the director now directly owns 1,909 shares of the company's stock, valued at approximately $461,500.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Timothy K. Bliss sold 10,000 shares of AppFolio 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 sale, the director now directly owns 51,070 shares in the company, valued at approximately $11,605,146.80. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Olivia Nottebohm sold 989 shares of AppFolio stock in a transaction that occurred 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 sale, the director now owns 1,909 shares in the company, valued at $461,500.75. The disclosure for this sale can be found here. Insiders have sold 15,489 shares of company stock valued at $3,531,011 in the last ninety days. Company 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.