Northern Trust Corp Has $42.61 Million Stock Holdings in AppFolio, Inc. $APPF

Key Points

• Northern Trust Corp increased its stake in AppFolio, Inc. by 0.8% during Q1, owning 193,780 shares valued at approximately $42.6 million at the end of the quarter.
• Several hedge funds, including Neuberger Berman Group, significantly increased their holdings in AppFolio, which is now owned 85.19% by institutional investors.
• Brokerage firm Piper Sandler upgraded AppFolio's rating to "overweight" and raised the target price to $350.00, while the stock currently holds a consensus rating of "Moderate Buy" with an average price target of $303.00.

Northern Trust Corp increased its holdings in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 0.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 193,780 shares of the software maker's stock after buying an additional 1,493 shares during the quarter. Northern Trust Corp owned 0.54% of AppFolio worth $42,612,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Colonial Trust Co SC purchased a new position in shares of AppFolio during the fourth quarter valued at $28,000. Fifth Third Bancorp grew its holdings in shares of AppFolio by 53.0% during the first quarter. Fifth Third Bancorp now owns 179 shares of the software maker's stock valued at $39,000 after buying an additional 62 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of AppFolio by 4,975.0% during the first quarter. Versant Capital Management Inc now owns 203 shares of the software maker's stock valued at $45,000 after buying an additional 199 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of AppFolio during the first quarter valued at $55,000. Finally, Blue Trust Inc. grew its holdings in shares of AppFolio by 330.2% during the first quarter. Blue Trust Inc. now owns 271 shares of the software maker's stock valued at $60,000 after buying an additional 208 shares in the last quarter. Hedge funds and other institutional investors own 85.19% of the company's stock.

Insiders Place Their Bets

In other AppFolio news, CEO William Shane Trigg sold 3,012 shares of the business's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $264.98, for a total value of $798,119.76. Following the completion of the sale, the chief executive officer owned 63,556 shares of the company's stock, valued at $16,841,068.88. The trade was a 4.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Maurice J. Duca sold 2,500 shares of the business's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $275.57, for a total value of $688,925.00. Following the transaction, the insider directly owned 55,795 shares of the company's stock, valued at $15,375,428.15. This represents a 4.29% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 18,500 shares of company stock valued at $4,024,220 and sold 53,985 shares valued at $15,348,953. Insiders own 4.68% of the company's stock.

AppFolio Stock Up 1.0%

Shares of NASDAQ:APPF traded up $2.75 on Wednesday, reaching $276.29. The company had a trading volume of 246,427 shares, compared to its average volume of 332,639. AppFolio, Inc. has a twelve month low of $189.01 and a twelve month high of $326.04. The stock has a 50-day moving average price of $263.41 and a 200 day moving average price of $233.13. The stock has a market capitalization of $9.90 billion, a P/E ratio of 49.87 and a beta of 0.89.

AppFolio (NASDAQ:APPF - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The software maker reported $1.38 earnings per share for the quarter, topping analysts' consensus estimates of $1.27 by $0.11. AppFolio had a return on equity of 26.32% and a net margin of 23.54%.The company had revenue of $235.58 million during the quarter, compared to analysts' expectations of $230.10 million. During the same quarter in the previous year, the firm earned $1.12 earnings per share. The business's quarterly revenue was up 19.4% compared to the same quarter last year. AppFolio has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on APPF. DA Davidson reiterated a "buy" rating and set a $350.00 price target on shares of AppFolio in a report on Friday, August 1st. Piper Sandler upgraded AppFolio from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $240.00 to $350.00 in a research note on Friday, August 1st. Finally, Keefe, Bruyette & Woods boosted their target price on AppFolio from $295.00 to $311.00 and gave the company a "market perform" rating in a research note on Wednesday. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, AppFolio presently has a consensus rating of "Moderate Buy" and a consensus target price of $311.80.

AppFolio 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.