AppFolio, Inc. (NASDAQ:APPF) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its position in AppFolio, Inc. (NASDAQ:APPF) by 40.5% during the first quarter, according to its most recent Form 13F filing with the SEC. 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 approximately 0.19% of AppFolio worth $14,983,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of APPF. Colonial Trust Co SC purchased a new position in shares of AppFolio in the fourth quarter valued at approximately $28,000. Fifth Third Bancorp lifted its position in shares of AppFolio by 53.0% in the first quarter. Fifth Third Bancorp now owns 179 shares of the software maker’s stock valued at $39,000 after acquiring an additional 62 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of AppFolio by 4,975.0% in the first quarter. Versant Capital Management Inc now owns 203 shares of the software maker’s stock valued at $45,000 after acquiring an additional 199 shares in the last quarter. Aster Capital Management DIFC Ltd lifted its position in shares of AppFolio by 10,300.0% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 208 shares of the software maker’s stock valued at $51,000 after acquiring an additional 206 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of AppFolio by 330.2% in the first quarter. Blue Trust Inc. now owns 271 shares of the software maker’s stock valued at $60,000 after purchasing an additional 208 shares during the last quarter. 85.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other AppFolio 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 transaction, the chief executive officer directly owned 70,647 shares of the company’s stock, valued at $14,938,308.15. This represents a 7.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Timothy Mathias Eaton sold 1,057 shares of the firm’s stock in a transaction dated Friday, May 16th. The stock was 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 directly owned 7,176 shares in the company, valued at $1,586,828.88. This represents a 12.84% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders bought 18,500 shares of company stock worth $4,024,220 and sold 11,639 shares worth $2,547,802. Corporate insiders own 4.68% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on APPF. Keefe, Bruyette & Woods cut their target price on AppFolio from $210.00 to $205.00 and set an “underweight” rating for the company in a research note on Friday, April 25th. DA Davidson raised AppFolio to a “strong-buy” rating in a research note on Tuesday, May 13th. Finally, Piper Sandler raised their target price on AppFolio from $208.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday. One 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $261.33.

AppFolio Stock Performance

APPF stock opened at $250.95 on Monday. AppFolio, Inc. has a 1 year low of $189.01 and a 1 year high of $274.56. The firm has a market cap of $9.04 billion, a P/E ratio of 46.82 and a beta of 0.88. The stock’s 50 day moving average price is $225.31 and its 200 day moving average price is $225.32.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Thursday, April 24th. The software maker reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). AppFolio had a return on equity of 25.83% and a net margin of 23.87%. The firm had revenue of $217.70 million for the quarter, compared to analyst estimates of $220.95 million. During the same quarter in the previous year, the company earned $1.05 earnings per share. The company’s quarterly revenue was up 15.9% on a year-over-year basis. On average, research analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current year.

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.