Thrivent Financial for Lutherans Buys 18,822 Shares of AppFolio, Inc. $APPF

Thrivent Financial for Lutherans boosted its stake in AppFolio, Inc. (NASDAQ:APPF) by 346.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,248 shares of the software maker’s stock after purchasing an additional 18,822 shares during the period. Thrivent Financial for Lutherans’ holdings in AppFolio were worth $6,685,000 at the end of the most recent reporting period.

Other institutional investors 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. TD Private Client Wealth LLC boosted its position in AppFolio by 2,116.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 133 shares of the software maker’s stock valued at $37,000 after buying an additional 127 shares during the period. First Horizon Corp bought a new stake in AppFolio in the 3rd quarter worth $39,000. Huntington National Bank increased its position in shares of AppFolio by 58.7% in the second quarter. Huntington National Bank now owns 200 shares of the software maker’s stock valued at $46,000 after acquiring an additional 74 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in shares of AppFolio by 2,200.0% during the third quarter. Farther Finance Advisors LLC now owns 184 shares of the software maker’s stock valued at $51,000 after acquiring an additional 176 shares during the last quarter. Hedge funds and other institutional investors own 85.19% of the company’s stock.

AppFolio Stock Up 1.3%

NASDAQ APPF opened at $179.73 on Friday. The firm has a market capitalization of $6.46 billion, a PE ratio of 46.32 and a beta of 0.75. The stock’s 50 day moving average is $222.68 and its 200 day moving average is $247.26. AppFolio, Inc. has a twelve month low of $176.87 and a twelve month high of $326.04.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Thursday, January 29th. The software maker reported $1.39 EPS for the quarter, beating the consensus estimate of $1.22 by $0.17. AppFolio had a return on equity of 29.79% and a net margin of 14.82%.The business had revenue of $248.19 million during the quarter, compared to analyst estimates of $246.56 million. During the same quarter last year, the firm posted $0.92 earnings per share. The company’s revenue for the quarter was up 21.7% on a year-over-year basis. On average, research analysts anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Insider Activity at AppFolio

In other news, General Counsel Evan Pickering sold 334 shares of AppFolio stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $243.67, for a total transaction of $81,385.78. Following the completion of the transaction, the general counsel directly owned 2,969 shares in the company, valued at approximately $723,456.23. This trade represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William Shane Trigg sold 3,947 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $240.45, for a total value of $949,056.15. Following the completion of the sale, the chief executive officer directly owned 51,530 shares in the company, valued at approximately $12,390,388.50. This represents a 7.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 8,745 shares of company stock valued at $2,097,550 in the last three months. Company insiders own 4.68% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Weiss Ratings cut AppFolio from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, January 16th. Wall Street Zen upgraded AppFolio from a “hold” rating to a “buy” rating in a research report on Saturday. William Blair restated an “outperform” rating on shares of AppFolio in a report on Friday, January 30th. Wells Fargo & Company reaffirmed a “buy” rating on shares of AppFolio in a research note on Thursday, January 15th. Finally, UBS Group set a $260.00 price objective on shares of AppFolio and gave the company a “buy” rating in a research report on Friday, January 30th. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $270.83.

AppFolio 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.