Los Angeles Capital Management LLC Has $14.98 Million Stock Holdings in AppFolio, Inc. (NASDAQ:APPF)

Los Angeles Capital Management LLC trimmed its holdings in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 40.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 68,135 shares of the software maker's stock after selling 46,327 shares during the period. Los Angeles Capital Management LLC owned about 0.19% of AppFolio worth $14,983,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of APPF. Vanguard Group Inc. lifted its stake in AppFolio by 3.8% in the 4th quarter. Vanguard Group Inc. now owns 2,495,527 shares of the software maker's stock valued at $615,696,000 after acquiring an additional 91,174 shares in the last quarter. AQR Capital Management LLC boosted its holdings in AppFolio by 43.2% during the fourth quarter. AQR Capital Management LLC now owns 655,625 shares of the software maker's stock worth $161,756,000 after purchasing an additional 197,700 shares during the last quarter. FMR LLC grew its position in AppFolio by 881.2% in the fourth quarter. FMR LLC now owns 597,485 shares of the software maker's stock valued at $147,411,000 after purchasing an additional 536,591 shares in the last quarter. Gilder Gagnon Howe & Co. LLC increased its stake in AppFolio by 4.7% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 572,917 shares of the software maker's stock valued at $141,350,000 after buying an additional 25,566 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of AppFolio during the 4th quarter worth about $103,503,000. 85.19% of the stock is currently owned by institutional investors.

AppFolio Trading Up 0.5%

APPF traded up $1.28 during trading on Monday, hitting $252.23. 219,960 shares of the company traded hands, compared to its average volume of 267,177. The stock's 50-day simple moving average is $225.31 and its two-hundred day simple moving average is $225.32. AppFolio, Inc. has a 1 year low of $189.01 and a 1 year high of $274.56. The company has a market cap of $9.09 billion, a PE ratio of 47.06 and a beta of 0.88.

AppFolio (NASDAQ:APPF - Get Free Report) last issued its earnings results on Thursday, April 24th. The software maker reported $1.21 EPS for the quarter, missing analysts' consensus estimates of $1.23 by ($0.02). The company had revenue of $217.70 million for the quarter, compared to analysts' expectations of $220.95 million. AppFolio had a return on equity of 25.83% and a net margin of 23.87%. The business's revenue was up 15.9% compared to the same quarter last year. During the same period last year, the business posted $1.05 earnings per share. Equities analysts expect that AppFolio, Inc. will post 3.96 EPS for the current year.

Insiders Place Their Bets

In related news, CEO William Shane Trigg sold 5,900 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $211.45, for a total value of $1,247,555.00. Following the completion of the sale, the chief executive officer owned 70,647 shares of the company's stock, valued at approximately $14,938,308.15. This represents a 7.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Timothy Mathias Eaton sold 1,057 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $221.13, for a total transaction of $233,734.41. Following the completion of the transaction, the chief financial officer owned 7,176 shares in the company, valued at $1,586,828.88. The trade was a 12.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders bought 18,500 shares of company stock valued at $4,024,220 and sold 11,639 shares valued at $2,547,802. 4.68% of the stock is owned by corporate insiders.

Analyst Ratings Changes

APPF has been the topic of a number of analyst reports. DA Davidson upgraded shares of AppFolio to a "strong-buy" rating in a research report on Tuesday, May 13th. Keefe, Bruyette & Woods cut their target price on shares of AppFolio from $210.00 to $205.00 and set an "underweight" rating on the stock in a research note on Friday, April 25th. Finally, Piper Sandler raised their price target on shares of AppFolio from $208.00 to $240.00 and gave the company a "neutral" rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, AppFolio has an average rating of "Moderate Buy" and an average price target of $261.33.

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.