AppFolio, Inc. (NASDAQ:APPF) Holdings Lowered by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its position in AppFolio, Inc. (NASDAQ:APPF) by 17.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,431 shares of the software maker’s stock after selling 1,109 shares during the quarter. Thrivent Financial for Lutherans’ holdings in AppFolio were worth $1,340,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in APPF. Lord Abbett & CO. LLC lifted its stake in AppFolio by 82.2% in the 3rd quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker’s stock worth $108,116,000 after acquiring an additional 207,204 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of AppFolio during the 4th quarter worth $30,195,000. Deepwater Asset Management LLC bought a new stake in AppFolio in the fourth quarter worth $15,483,000. FMR LLC boosted its stake in shares of AppFolio by 998.0% during the 3rd quarter. FMR LLC now owns 60,894 shares of the software maker’s stock worth $14,334,000 after acquiring an additional 55,348 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in AppFolio by 31.2% during the third quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker’s stock valued at $51,800,000 after purchasing an additional 54,386 shares during the last quarter. Institutional investors and hedge funds own 85.19% of the company’s stock.

Insider Activity

In other news, CEO William Shane Trigg sold 3,501 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $217.27, for a total value of $760,662.27. Following the sale, the chief executive officer now directly owns 83,824 shares in the company, valued at approximately $18,212,440.48. This represents a 4.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Matthew S. Mazza sold 838 shares of the stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $255.30, for a total value of $213,941.40. Following the completion of the transaction, the insider now directly owns 22,701 shares of the company’s stock, valued at approximately $5,795,565.30. The trade was a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.24% of the company’s stock.

AppFolio Stock Down 1.7 %

AppFolio stock opened at $221.30 on Monday. The business has a 50 day moving average price of $225.38 and a two-hundred day moving average price of $232.54. AppFolio, Inc. has a 12 month low of $189.01 and a 12 month high of $274.56. The stock has a market cap of $8.06 billion, a price-to-earnings ratio of 39.87 and a beta of 0.89.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data 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%. On average, analysts expect that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on APPF. Stephens reissued an “overweight” rating and set a $295.00 target price on shares of AppFolio in a research report on Friday, January 31st. Piper Sandler reissued a “neutral” rating and set a $265.00 price objective on shares of AppFolio in a research report on Friday, January 31st. KeyCorp lowered 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. Finally, William Blair reissued an “outperform” rating on shares of AppFolio in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, AppFolio has an average rating of “Hold” and a consensus target price of $276.29.

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.