Thrivent Financial for Lutherans Acquires 745 Shares of AppFolio, Inc. (NASDAQ:APPF)

Thrivent Financial for Lutherans boosted its holdings in AppFolio, Inc. (NASDAQ:APPF) by 7.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,746 shares of the software maker’s stock after purchasing an additional 745 shares during the period. Thrivent Financial for Lutherans’ holdings in AppFolio were worth $2,628,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in APPF. American International Group Inc. increased its holdings in shares of AppFolio by 280.7% in the first quarter. American International Group Inc. now owns 36,367 shares of the software maker’s stock worth $8,973,000 after buying an additional 26,815 shares during the period. Texas Permanent School Fund Corp bought a new stake in AppFolio in the first quarter valued at approximately $4,415,000. Oberndorf William E purchased a new stake in shares of AppFolio during the fourth quarter valued at approximately $3,020,000. Nebula Research & Development LLC grew its holdings in shares of AppFolio by 554.5% in the fourth quarter. Nebula Research & Development LLC now owns 9,039 shares of the software maker’s stock worth $1,566,000 after purchasing an additional 7,658 shares during the last quarter. Finally, Ameritas Investment Partners Inc. increased its stake in shares of AppFolio by 223.5% in the first quarter. Ameritas Investment Partners Inc. now owns 6,434 shares of the software maker’s stock worth $1,588,000 after buying an additional 4,445 shares during the period. 62.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on APPF. Piper Sandler Companies reissued an “overweight” rating and set a $300.00 price target on shares of AppFolio in a research report on Friday, July 26th. JPMorgan Chase & Co. raised their target price on AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. DA Davidson upped their price target on AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, July 26th. StockNews.com lowered AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Finally, KeyCorp upped their target price on AppFolio from $275.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $277.75.

Insider Buying and Selling

In other AppFolio news, major shareholder Maurice J. Duca sold 11,627 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $240.08, for a total transaction of $2,791,410.16. Following the completion of the transaction, the insider now owns 27,768 shares of the company’s stock, valued at $6,666,541.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Maurice J. Duca sold 11,627 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $240.08, for a total value of $2,791,410.16. Following the sale, the insider now owns 27,768 shares in the company, valued at approximately $6,666,541.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William Shane Trigg sold 3,501 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $218.98, for a total value of $766,648.98. Following the transaction, the chief executive officer now directly owns 81,699 shares of the company’s stock, valued at approximately $17,890,447.02. The disclosure for this sale can be found here. Insiders have sold 41,832 shares of company stock valued at $10,062,598 over the last quarter. Corporate insiders own 9.15% of the company’s stock.

AppFolio Stock Up 0.4 %

APPF opened at $235.40 on Tuesday. AppFolio, Inc. has a 52 week low of $164.29 and a 52 week high of $274.56. The stock has a market cap of $8.52 billion, a PE ratio of 113.72 and a beta of 0.81. The business has a 50 day moving average of $227.25 and a 200-day moving average of $233.62.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Thursday, July 25th. The software maker reported $1.12 EPS for the quarter, beating the consensus estimate of $0.96 by $0.16. The business had revenue of $197.38 million during the quarter, compared to analyst estimates of $190.57 million. AppFolio had a return on equity of 27.39% and a net margin of 17.32%. The company’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.53) earnings per share. Equities analysts anticipate that AppFolio, Inc. will post 3.04 EPS for the current year.

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.