Thrivent Financial for Lutherans Sells 4,206 Shares of AppFolio, Inc. (NASDAQ:APPF)

Thrivent Financial for Lutherans lowered its stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 39.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,540 shares of the software maker's stock after selling 4,206 shares during the quarter. Thrivent Financial for Lutherans' holdings in AppFolio were worth $1,539,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Summit Global Investments bought a new stake in AppFolio during the third quarter valued at $759,000. Gladius Capital Management LP purchased a new position in shares of AppFolio during the second quarter worth about $1,054,000. Baker Avenue Asset Management LP increased its position in shares of AppFolio by 16.5% in the third quarter. Baker Avenue Asset Management LP now owns 21,483 shares of the software maker's stock worth $5,057,000 after purchasing an additional 3,038 shares during the last quarter. TD Asset Management Inc raised its stake in AppFolio by 48.1% in the second quarter. TD Asset Management Inc now owns 8,000 shares of the software maker's stock valued at $1,957,000 after purchasing an additional 2,600 shares in the last quarter. Finally, Comerica Bank lifted its position in AppFolio by 129.9% during the first quarter. Comerica Bank now owns 13,683 shares of the software maker's stock valued at $3,376,000 after purchasing an additional 7,732 shares during the last quarter. Hedge funds and other institutional investors own 62.34% of the company's stock.

Wall Street Analyst Weigh In

APPF has been the topic of a number of research analyst reports. StockNews.com lowered shares of AppFolio from a "buy" rating to a "hold" rating in a report on Thursday, August 22nd. Keefe, Bruyette & Woods cut AppFolio from a "market perform" rating to an "underperform" rating and reduced their target price for the company from $255.00 to $193.00 in a research note on Tuesday, October 15th. Piper Sandler dropped their price target on AppFolio from $300.00 to $265.00 and set an "overweight" rating for the company in a research note on Friday, October 25th. Finally, KeyCorp reduced their price objective on AppFolio from $300.00 to $252.00 and set an "overweight" rating on the stock in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $261.75.

AppFolio Stock Down 0.4 %

Shares of NASDAQ APPF traded down $1.07 during midday trading on Friday, reaching $253.75. The company had a trading volume of 106,111 shares, compared to its average volume of 272,741. The stock has a market cap of $9.22 billion, a PE ratio of 70.68 and a beta of 0.83. AppFolio, Inc. has a one year low of $164.29 and a one year high of $274.56. The firm's fifty day moving average price is $225.24 and its 200-day moving average price is $231.28.

AppFolio (NASDAQ:APPF - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.26. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The firm had revenue of $206.00 million during the quarter, compared to the consensus estimate of $199.11 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. The business's revenue was up 24.5% on a year-over-year basis. As a group, equities research analysts expect that AppFolio, Inc. will post 3.23 EPS for the current year.

Insider Buying and Selling at AppFolio

In other AppFolio news, insider Matthew S. Mazza sold 926 shares of the company's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $229.04, for a total value of $212,091.04. Following the completion of the transaction, the insider now directly owns 33,819 shares in the company, valued at approximately $7,745,903.76. This represents a 2.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William Shane Trigg sold 3,500 shares of AppFolio stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $229.85, for a total transaction of $804,475.00. Following the sale, the chief executive officer now directly owns 74,327 shares in the company, valued at $17,084,060.95. The trade was a 4.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,461 shares of company stock valued at $5,766,272 in the last quarter. Company insiders own 5.24% of the company's stock.

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.