Picton Mahoney Asset Management Cuts Stock Holdings in AppFolio, Inc. (NASDAQ:APPF)

Picton Mahoney Asset Management reduced its position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 34.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,709 shares of the software maker's stock after selling 10,302 shares during the period. Picton Mahoney Asset Management owned about 0.05% of AppFolio worth $4,863,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. UMB Bank n.a. grew its holdings in shares of AppFolio by 193.0% during the fourth quarter. UMB Bank n.a. now owns 167 shares of the software maker's stock worth $41,000 after purchasing an additional 110 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of AppFolio during the fourth quarter worth about $50,000. EverSource Wealth Advisors LLC raised its position in shares of AppFolio by 1,485.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 222 shares of the software maker's stock worth $55,000 after acquiring an additional 208 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of AppFolio by 60.4% during the fourth quarter. Jones Financial Companies Lllp now owns 247 shares of the software maker's stock worth $61,000 after acquiring an additional 93 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of AppFolio by 126.5% during the fourth quarter. Blue Trust Inc. now owns 265 shares of the software maker's stock worth $62,000 after acquiring an additional 148 shares during the last quarter. 85.19% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

APPF has been the subject of a number of analyst reports. Stephens restated an "overweight" rating and set a $295.00 price objective on shares of AppFolio in a research report on Friday, January 31st. Piper Sandler restated a "neutral" rating and set a $265.00 price objective on shares of AppFolio in a research report on Friday, January 31st. William Blair reiterated an "outperform" rating on shares of AppFolio in a report on Friday, January 31st. Finally, KeyCorp downgraded AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 target price for the company. in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $276.29.

AppFolio Stock Performance

AppFolio stock traded down $1.48 during mid-day trading on Thursday, reaching $215.51. The stock had a trading volume of 175,710 shares, compared to its average volume of 265,724. AppFolio, Inc. has a fifty-two week low of $189.01 and a fifty-two week high of $274.56. The stock's 50-day simple moving average is $229.17 and its 200-day simple moving average is $232.68. The firm has a market capitalization of $7.85 billion, a PE ratio of 38.83 and a beta of 0.89.

AppFolio (NASDAQ:APPF - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The software maker reported $0.58 EPS for the quarter, missing analysts' consensus estimates of $0.92 by ($0.34). AppFolio had a net margin of 25.69% and a return on equity of 26.21%. On average, research analysts forecast that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Insider Buying and Selling at AppFolio

In related news, CEO William Shane Trigg sold 3,501 shares of AppFolio stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $217.27, for a total transaction of $760,662.27. Following the transaction, the chief executive officer now owns 83,824 shares of the company's stock, valued at $18,212,440.48. The trade was a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Matthew S. Mazza sold 838 shares of AppFolio stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $255.30, for a total value of $213,941.40. Following the transaction, the insider now directly owns 22,701 shares in the company, valued at approximately $5,795,565.30. The trade was a 3.56 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.24% of the company's stock.

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.