Los Angeles Capital Management LLC Acquires 9,401 Shares of AppFolio, Inc. (NASDAQ:APPF)

Los Angeles Capital Management LLC raised its holdings in AppFolio, Inc. (NASDAQ:APPF) by 8.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 114,462 shares of the software maker’s stock after buying an additional 9,401 shares during the quarter. Los Angeles Capital Management LLC owned 0.32% of AppFolio worth $28,240,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of APPF. Blue Trust Inc. increased its holdings in AppFolio by 85.7% in the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock valued at $29,000 after buying an additional 54 shares during the period. International Assets Investment Management LLC bought a new stake in shares of AppFolio in the 3rd quarter worth about $26,040,000. Louisiana State Employees Retirement System grew its holdings in shares of AppFolio by 8.5% in the 3rd quarter. Louisiana State Employees Retirement System now owns 6,400 shares of the software maker’s stock worth $1,507,000 after purchasing an additional 500 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of AppFolio in the 3rd quarter worth about $1,521,000. Finally, State of Alaska Department of Revenue grew its holdings in shares of AppFolio by 16.1% in the 3rd quarter. State of Alaska Department of Revenue now owns 2,670 shares of the software maker’s stock worth $628,000 after purchasing an additional 370 shares during the last quarter. Institutional investors own 85.19% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. KeyCorp lowered shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 target price on the stock. in a report on Friday, January 10th. Stephens reaffirmed an “overweight” rating and issued a $295.00 target price on shares of AppFolio in a report on Friday, January 31st. Piper Sandler reaffirmed a “neutral” rating and issued a $265.00 target price on shares of AppFolio in a report on Friday, January 31st. Finally, William Blair reaffirmed an “outperform” rating on shares of AppFolio in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, AppFolio presently has an average rating of “Hold” and a consensus price target of $276.29.

AppFolio Stock Down 1.8 %

Shares of NASDAQ:APPF opened at $211.22 on Wednesday. AppFolio, Inc. has a 12 month low of $189.01 and a 12 month high of $274.56. The company’s 50-day moving average price is $240.38 and its two-hundred day moving average price is $233.82. The firm has a market cap of $7.69 billion, a P/E ratio of 38.06 and a beta of 0.88.

AppFolio (NASDAQ:APPF) last released its earnings results on Thursday, January 30th. The software maker reported $0.58 earnings per share (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%. As a group, equities analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Insider Buying and Selling at AppFolio

In other news, Director Alexander Wolf purchased 9,678 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were acquired at an average cost of $214.81 per share, for a total transaction of $2,078,931.18. Following the transaction, the director now directly owns 3,226 shares of the company’s stock, valued at approximately $692,977.06. The trade was a -150.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO William Shane Trigg sold 4,145 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $263.32, for a total transaction of $1,091,461.40. Following the completion of the sale, the chief executive officer now owns 73,682 shares in the company, valued at $19,401,944.24. This represents a 5.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,684 shares of company stock worth $2,372,625. Company insiders own 5.24% of the company’s stock.

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.