AppFolio, Inc. $APPF Shares Acquired by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. boosted its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 6,010.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,733 shares of the software maker’s stock after purchasing an additional 11,541 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in AppFolio were worth $2,730,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Root Financial Partners LLC acquired a new position in AppFolio during the 3rd quarter valued at approximately $31,000. Hantz Financial Services Inc. boosted its position in AppFolio by 373.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 142 shares of the software maker’s stock valued at $39,000 after purchasing an additional 112 shares during the period. Advisory Services Network LLC acquired a new position in AppFolio during the 3rd quarter valued at approximately $55,000. Employees Retirement System of Texas acquired a new position in AppFolio during the 3rd quarter valued at approximately $58,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in AppFolio during the 3rd quarter valued at approximately $69,000. Institutional investors and hedge funds own 85.19% of the company’s stock.

AppFolio Stock Performance

Shares of APPF stock opened at $164.92 on Tuesday. AppFolio, Inc. has a 1 year low of $142.73 and a 1 year high of $326.04. The stock has a fifty day moving average of $160.14 and a two-hundred day moving average of $195.26. The firm has a market capitalization of $5.83 billion, a PE ratio of 39.27 and a beta of 0.82.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, April 23rd. The software maker reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.14. AppFolio had a return on equity of 32.35% and a net margin of 15.27%.The company had revenue of $262.21 million during the quarter, compared to analyst estimates of $258.13 million. During the same quarter in the previous year, the firm posted $1.21 EPS. The firm’s quarterly revenue was up 20.7% on a year-over-year basis. Equities research analysts predict that AppFolio, Inc. will post 5.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. KeyCorp restated an “overweight” rating on shares of AppFolio in a research report on Monday, February 2nd. Piper Sandler reduced their price objective on AppFolio from $245.00 to $210.00 and set an “overweight” rating for the company in a research report on Friday, April 24th. UBS Group set a $210.00 price objective on AppFolio in a research report on Friday, April 24th. JPMorgan Chase & Co. reduced their price objective on AppFolio from $330.00 to $300.00 and set an “overweight” rating for the company in a research report on Friday, January 30th. Finally, Weiss Ratings lowered AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, April 29th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $252.29.

Insider Buying and Selling at AppFolio

In other news, CEO William Shane Trigg sold 3,584 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer owned 76,547 shares in the company, valued at $11,673,417.50. This represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth Erin Barat sold 1,978 shares of the company’s stock in a transaction 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 completion of the sale, the insider 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. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 1.57% of the company’s stock.

About AppFolio

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.