Thrivent Financial for Lutherans Purchases 7,398 Shares of AppFolio, Inc. $APPF

Thrivent Financial for Lutherans lifted its position in AppFolio, Inc. (NASDAQ:APPF) by 30.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 31,646 shares of the software maker’s stock after purchasing an additional 7,398 shares during the period. Thrivent Financial for Lutherans’ holdings in AppFolio were worth $7,362,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Root Financial Partners LLC bought a new position in shares of AppFolio in the third quarter worth approximately $31,000. Hantz Financial Services Inc. grew its holdings in shares of AppFolio by 373.3% in the third quarter. Hantz Financial Services Inc. now owns 142 shares of the software maker’s stock worth $39,000 after purchasing an additional 112 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of AppFolio by 48.8% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker’s stock worth $53,000 after purchasing an additional 63 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of AppFolio in the third quarter worth approximately $55,000. Finally, Employees Retirement System of Texas bought a new position in shares of AppFolio in the third quarter worth approximately $58,000. Institutional investors own 85.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on APPF. Benchmark boosted their target price on AppFolio from $222.00 to $226.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Keefe, Bruyette & Woods reduced their target price on AppFolio from $311.00 to $290.00 and set an “outperform” rating on the stock in a research note on Friday, January 30th. Piper Sandler reduced their target price on AppFolio from $245.00 to $210.00 and set an “overweight” rating on the stock in a research note on Friday, April 24th. Wall Street Zen raised AppFolio from a “hold” rating to a “buy” rating in a research note on Sunday, March 15th. Finally, KeyCorp reissued an “overweight” rating on shares of AppFolio in a research note on Monday, February 2nd. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $252.29.

Insider Buying and Selling at AppFolio

In related news, insider Elizabeth Erin Barat sold 1,978 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $158.12, for a total value of $312,761.36. Following the sale, the insider directly owned 21,545 shares of the company’s stock, valued at $3,406,695.40. This represents a 8.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Shane Trigg sold 3,584 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $152.50, for a total value of $546,560.00. Following the completion of the sale, the chief executive officer directly owned 76,547 shares in the company, valued at approximately $11,673,417.50. The trade was a 4.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.57% of the stock is owned by corporate insiders.

AppFolio Stock Performance

APPF opened at $163.39 on Thursday. The stock has a market capitalization of $5.78 billion, a PE ratio of 38.90 and a beta of 0.82. The stock’s 50 day moving average price is $161.10 and its 200-day moving average price is $197.26. AppFolio, Inc. has a 52-week low of $142.73 and a 52-week high of $326.04.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Thursday, April 23rd. The software maker reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.14. The company had revenue of $262.21 million for the quarter, compared to analysts’ expectations of $258.13 million. AppFolio had a return on equity of 32.35% and a net margin of 15.27%.The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.21 earnings per share. Research analysts forecast that AppFolio, Inc. will post 5.04 EPS for the current fiscal year.

AppFolio Company Profile

AppFolio, Inc is a Santa Barbara–based provider of cloud-based software solutions for the property management and legal industries. Founded in 2006 by former software executives, the company went public on the NASDAQ under the symbol APPF in 2015. Its original offering, AppFolio Property Manager, automates accounting, marketing, leasing, and maintenance functions for residential, commercial, student housing, and community association managers.

In 2019, AppFolio expanded its portfolio with the acquisition of MyCase, a web-based legal practice management platform for small to mid-size law firms.