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

Los Angeles Capital Management LLC lessened its holdings in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 4.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 105,061 shares of the software maker's stock after selling 4,789 shares during the period. Los Angeles Capital Management LLC owned approximately 0.29% of AppFolio worth $24,731,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in APPF. Blue Trust Inc. grew its stake in shares of AppFolio by 85.7% during the 3rd 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. GAMMA Investing LLC increased its stake in shares of AppFolio by 589.5% in the 2nd quarter. GAMMA Investing LLC now owns 131 shares of the software maker's stock valued at $32,000 after purchasing an additional 112 shares in the last quarter. CWM LLC raised its holdings in AppFolio by 238.6% in the 2nd quarter. CWM LLC now owns 149 shares of the software maker's stock worth $36,000 after purchasing an additional 105 shares during the period. Advisors Asset Management Inc. boosted its position in AppFolio by 291.3% during the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker's stock worth $44,000 after purchasing an additional 134 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in AppFolio by 688.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker's stock valued at $52,000 after purchasing an additional 186 shares during the period. 62.34% of the stock is currently owned by institutional investors and hedge funds.

AppFolio Price Performance

APPF traded up $5.27 during trading hours on Monday, reaching $233.47. The company's stock had a trading volume of 221,677 shares, compared to its average volume of 314,585. AppFolio, Inc. has a fifty-two week low of $164.29 and a fifty-two week high of $274.56. The stock has a market cap of $8.48 billion, a PE ratio of 65.03 and a beta of 0.83. The business's 50-day moving average is $221.34 and its 200-day moving average is $231.19.

AppFolio (NASDAQ:APPF - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.03 by $0.26. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The business had revenue of $206.00 million for the quarter, compared to the consensus estimate of $199.11 million. During the same period in the previous year, the firm earned $0.26 EPS. The business's revenue was up 24.5% on a year-over-year basis. Analysts expect that AppFolio, Inc. will post 3.23 EPS for the current year.

Insiders Place Their Bets

In other news, insider Matthew S. Mazza sold 2,371 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $221.22, for a total value of $524,512.62. Following the sale, the insider now directly owns 39,980 shares in the company, valued at approximately $8,844,375.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other AppFolio news, insider Matthew S. Mazza sold 2,371 shares of the business's stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $221.22, for a total transaction of $524,512.62. Following the completion of the transaction, the insider now owns 39,980 shares in the company, valued at $8,844,375.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Maurice J. Duca sold 1,296 shares of the firm's stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $236.77, for a total transaction of $306,853.92. Following the completion of the sale, the insider now owns 9,383 shares in the company, valued at $2,221,612.91. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,652 shares of company stock worth $4,053,818 over the last three months. Company insiders own 5.24% of the company's stock.

Analyst Ratings Changes

APPF has been the subject of several recent analyst reports. DA Davidson boosted their price target on shares of AppFolio from $285.00 to $300.00 and gave the stock a "buy" rating in a report on Friday, July 26th. Piper Sandler decreased their price target on shares of AppFolio from $300.00 to $265.00 and set an "overweight" rating on the stock in a research note on Friday, October 25th. KeyCorp cut their price objective on AppFolio from $300.00 to $252.00 and set an "overweight" rating for the company in a research note on Friday, October 25th. Keefe, Bruyette & Woods cut AppFolio from a "market perform" rating to an "underperform" rating and reduced their target price for the company from $255.00 to $193.00 in a report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. boosted their price target on AppFolio from $260.00 to $328.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $261.75.

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.