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

Key Points

• Thrivent Financial for Lutherans boosted its AppFolio stake by 30.5% in the fourth quarter, buying 7,398 more shares to hold 31,646 shares valued at about $7.36 million.
• AppFolio’s latest earnings topped expectations, with quarterly EPS of $1.61 versus the $1.47 estimate and revenue of $262.21 million, up 20.7% year over year.
• Insiders sold shares in recent transactions, including CEO William Shane Trigg and executive Elizabeth Erin Barat, even as analysts kept a generally positive stance with a consensus “Moderate Buy” rating and $252.29 target price.

Thrivent Financial for Lutherans increased its stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 30.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 owned approximately 0.09% of AppFolio worth $7,362,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of 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. increased its position 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. increased its position 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. 85.19% of the stock is currently owned by institutional investors.

AppFolio Price Performance

NASDAQ:APPF opened at $163.39 on Thursday. The business has a 50 day moving average of $161.10 and a 200 day moving average of $197.26. The company has a market capitalization of $5.78 billion, a price-to-earnings ratio of 38.90 and a beta of 0.82. AppFolio, Inc. has a 1-year low of $142.73 and a 1-year high of $326.04.

AppFolio (NASDAQ:APPF - Get Free Report) last released its earnings results on Thursday, April 23rd. The software maker reported $1.61 earnings per share for the quarter, topping analysts' consensus estimates of $1.47 by $0.14. The company had revenue of $262.21 million during the quarter, compared to the consensus estimate of $258.13 million. AppFolio had a return on equity of 32.35% and a net margin of 15.27%.AppFolio's quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.21 EPS. As a group, sell-side analysts anticipate that AppFolio, Inc. will post 5.04 EPS for the current year.

Insider Buying and Selling

In other AppFolio news, CEO William Shane Trigg sold 3,584 shares of AppFolio stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 76,547 shares of the company's stock, valued at $11,673,417.50. The trade was a 4.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth Erin Barat sold 1,978 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were 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 approximately $3,406,695.40. This trade represents a 8.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 1.57% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. UBS Group set a $210.00 price objective on shares of AppFolio in a research report on Friday, April 24th. Keefe, Bruyette & Woods decreased their price objective on shares of AppFolio from $311.00 to $290.00 and set an "outperform" rating on the stock in a research report on Friday, January 30th. Weiss Ratings cut shares of AppFolio from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. decreased their price objective on shares of AppFolio from $330.00 to $300.00 and set an "overweight" rating on the stock in a research report on Friday, January 30th. Finally, Piper Sandler dropped their target price on AppFolio from $245.00 to $210.00 and set an "overweight" rating for the company in a research report on Friday, April 24th. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $252.29.

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.

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