Los Angeles Capital Management LLC Raises Stock Position in AppFolio, Inc. (NASDAQ:APPF)

Los Angeles Capital Management LLC grew its position in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 8.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 114,462 shares of the software maker's stock after purchasing an additional 9,401 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.32% of AppFolio worth $28,240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. boosted its position in shares of AppFolio by 85.7% in the third quarter. Blue Trust Inc. now owns 117 shares of the software maker's stock worth $29,000 after purchasing an additional 54 shares during the period. UMB Bank n.a. raised its stake in AppFolio by 193.0% during the fourth quarter. UMB Bank n.a. now owns 167 shares of the software maker's stock valued at $41,000 after purchasing an additional 110 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in AppFolio during the fourth quarter valued at $50,000. True Wealth Design LLC purchased a new stake in shares of AppFolio in the third quarter valued at $79,000. Finally, Advisors Asset Management Inc. raised its stake in shares of AppFolio by 56.6% in the third quarter. Advisors Asset Management Inc. now owns 390 shares of the software maker's stock valued at $92,000 after acquiring an additional 141 shares during the period. 85.19% of the stock is currently owned by institutional investors.

AppFolio Trading Up 1.4 %

Shares of NASDAQ:APPF traded up $2.86 during trading on Friday, reaching $214.50. The stock had a trading volume of 328,874 shares, compared to its average volume of 292,763. AppFolio, Inc. has a one year low of $189.01 and a one year high of $274.56. The company has a market capitalization of $7.81 billion, a P/E ratio of 38.65 and a beta of 0.88. The firm's 50-day simple moving average is $238.08 and its 200 day simple moving average is $233.53.

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AppFolio (NASDAQ:APPF - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The software maker reported $0.58 earnings per share 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%. Equities research analysts forecast that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AppFolio news, insider Matthew S. Mazza sold 700 shares of AppFolio stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $255.50, for a total transaction of $178,850.00. Following the completion of the sale, the insider now directly owns 27,566 shares in the company, valued at approximately $7,043,113. The trade was a 2.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO William Shane Trigg sold 3,501 shares of AppFolio stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $217.27, for a total transaction of $760,662.27. Following the sale, the chief executive officer now owns 83,824 shares of the company's stock, valued at approximately $18,212,440.48. The trade was a 4.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,684 shares of company stock worth $2,372,625 in the last three months. Corporate insiders own 5.24% of the company's stock.

Analyst Ratings Changes

APPF has been the topic of several recent analyst reports. William Blair reissued an "outperform" rating on shares of AppFolio in a research note on Friday, January 31st. Stephens restated an "overweight" rating and issued a $295.00 price target on shares of AppFolio in a report on Friday, January 31st. KeyCorp cut shares of AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 price target on the stock. in a report on Friday, January 10th. Finally, Piper Sandler restated a "neutral" rating and issued a $265.00 price target on shares of AppFolio in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $276.29.

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.