Northwestern Mutual Wealth Management Co. Has $2.73 Million Stock Holdings in AppFolio, Inc. $APPF

Northwestern Mutual Wealth Management Co. lifted its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 6,010.9% during the fourth quarter, Holdings Channel reports. 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 quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Truist Financial Corp raised its position in shares of AppFolio by 1.1% during the third quarter. Truist Financial Corp now owns 3,928 shares of the software maker’s stock worth $1,083,000 after purchasing an additional 43 shares during the period. Linden Thomas Advisory Services LLC raised its position in shares of AppFolio by 3.1% during the third quarter. Linden Thomas Advisory Services LLC now owns 1,515 shares of the software maker’s stock worth $418,000 after purchasing an additional 46 shares during the period. Woodline Partners LP raised its position in shares of AppFolio by 2.9% during the first quarter. Woodline Partners LP now owns 1,754 shares of the software maker’s stock worth $386,000 after purchasing an additional 50 shares during the period. Jones Financial Companies Lllp raised its position in shares of AppFolio by 14.6% during the third quarter. Jones Financial Companies Lllp now owns 454 shares of the software maker’s stock worth $126,000 after purchasing an additional 58 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its position in shares of AppFolio by 4.8% during the third quarter. Mercer Global Advisors Inc. ADV now owns 1,263 shares of the software maker’s stock worth $348,000 after purchasing an additional 58 shares during the period. 85.19% of the stock is owned by institutional investors and hedge funds.

AppFolio Stock Performance

NASDAQ:APPF opened at $164.92 on Tuesday. The firm has a market capitalization of $5.83 billion, a price-to-earnings ratio of 39.27 and a beta of 0.82. AppFolio, Inc. has a 1-year low of $142.73 and a 1-year high of $326.04. The business’s fifty day moving average price is $160.14 and its 200 day moving average price is $195.26.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, April 23rd. The software maker reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.14. The firm had revenue of $262.21 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the firm earned $1.21 earnings per share. Equities analysts forecast that AppFolio, Inc. will post 5.04 earnings per share for the current year.

Insider Buying and Selling at AppFolio

In related news, insider Elizabeth Erin Barat sold 1,978 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $158.12, for a total transaction of $312,761.36. Following the transaction, the insider directly owned 21,545 shares of the company’s stock, valued at approximately $3,406,695.40. The trade was a 8.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Shane Trigg sold 3,584 shares of the company’s stock in a transaction on Friday, May 15th. The shares were 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 in the company, valued at $11,673,417.50. The trade was a 4.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.57% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

APPF has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods cut their target price on AppFolio from $311.00 to $290.00 and set an “outperform” rating on the stock in a research report on Friday, January 30th. JPMorgan Chase & Co. cut their target price on AppFolio from $330.00 to $300.00 and set an “overweight” rating on the stock in a research report on Friday, January 30th. UBS Group set a $210.00 target price on AppFolio in a research report on Friday, April 24th. DA Davidson cut their target price on AppFolio from $325.00 to $275.00 and set a “buy” rating on the stock 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 research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.