Nicholas Investment Partners LP Grows Position in AppFolio, Inc. (NASDAQ:APPF)

Nicholas Investment Partners LP boosted its position in shares of AppFolio, Inc. (NASDAQ:APPFFree Report) by 36.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,943 shares of the software maker’s stock after buying an additional 11,551 shares during the period. Nicholas Investment Partners LP owned 0.12% of AppFolio worth $7,439,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Lord Abbett & CO. LLC purchased a new stake in AppFolio during the 3rd quarter valued at approximately $33,062,000. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of AppFolio during the third quarter worth $13,698,000. WCM Investment Management LLC purchased a new position in AppFolio in the 4th quarter valued at $12,941,000. Victory Capital Management Inc. increased its stake in AppFolio by 1,164.1% in the 4th quarter. Victory Capital Management Inc. now owns 70,042 shares of the software maker’s stock valued at $12,134,000 after buying an additional 64,501 shares during the period. Finally, Fred Alger Management LLC increased its stake in AppFolio by 12.2% in the 3rd quarter. Fred Alger Management LLC now owns 572,007 shares of the software maker’s stock valued at $104,466,000 after buying an additional 62,347 shares during the period. 62.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AppFolio

In related news, Director Olivia Nottebohm sold 989 shares of the company’s 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 sale, the director now owns 1,909 shares of the company’s stock, valued at approximately $461,500.75. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Matthew S. Mazza sold 2,131 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $249.46, for a total value of $531,599.26. Following the completion of the transaction, the insider now owns 43,680 shares of the company’s stock, valued at $10,896,412.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Olivia Nottebohm sold 989 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $241.75, for a total transaction of $239,090.75. Following the sale, the director now owns 1,909 shares in the company, valued at approximately $461,500.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,620 shares of company stock valued at $4,062,610. Insiders own 9.15% of the company’s stock.

AppFolio Price Performance

AppFolio stock traded up $2.68 during trading hours on Wednesday, hitting $249.87. The stock had a trading volume of 249,233 shares, compared to its average volume of 308,678. AppFolio, Inc. has a 1-year low of $138.49 and a 1-year high of $256.73. The stock has a market capitalization of $9.05 billion, a price-to-earnings ratio of 121.60 and a beta of 0.79. The stock’s fifty day moving average is $230.94 and its two-hundred day moving average is $210.29.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. KeyCorp lifted their target price on shares of AppFolio from $264.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, April 26th. 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. BTIG Research assumed coverage on AppFolio in a report on Friday, January 19th. They set a “buy” rating and a $215.00 price objective on the stock. Stephens reissued an “overweight” rating and issued a $241.00 target price on shares of AppFolio in a report on Friday, April 26th. Finally, JPMorgan Chase & Co. upped their price target 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. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $241.00.

Read Our Latest Analysis on AppFolio

AppFolio Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding APPF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AppFolio, Inc. (NASDAQ:APPFFree Report).

Institutional Ownership by Quarter for AppFolio (NASDAQ:APPF)

Receive News & Ratings for AppFolio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AppFolio and related companies with MarketBeat.com's FREE daily email newsletter.