AppFolio Inc (APPF) Position Increased by Northern Trust Corp

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Northern Trust Corp boosted its stake in AppFolio Inc (NASDAQ:APPF) by 69.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 215,607 shares of the software maker’s stock after acquiring an additional 88,508 shares during the period. Northern Trust Corp owned 0.63% of AppFolio worth $13,186,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in AppFolio by 37.3% in the second quarter. BlackRock Inc. now owns 894,987 shares of the software maker’s stock valued at $54,728,000 after acquiring an additional 243,372 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in AppFolio by 3.6% in the second quarter. Renaissance Technologies LLC now owns 500,400 shares of the software maker’s stock valued at $30,599,000 after acquiring an additional 17,200 shares in the last quarter. Granite Investment Partners LLC bought a new stake in AppFolio in the second quarter valued at $16,046,000. Dimensional Fund Advisors LP boosted its holdings in AppFolio by 33.7% in the second quarter. Dimensional Fund Advisors LP now owns 163,403 shares of the software maker’s stock valued at $9,992,000 after acquiring an additional 41,172 shares in the last quarter. Finally, Osterweis Capital Management Inc. purchased a new position in AppFolio during the second quarter valued at $5,021,000. Institutional investors and hedge funds own 30.02% of the company’s stock.

Shares of AppFolio stock opened at $58.23 on Wednesday. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 207.96 and a beta of 1.41. AppFolio Inc has a 12 month low of $37.56 and a 12 month high of $91.49.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Monday, October 29th. The software maker reported $0.16 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.05). The firm had revenue of $50.13 million for the quarter, compared to analysts’ expectations of $47.72 million. AppFolio had a net margin of 11.20% and a return on equity of 20.57%. AppFolio’s quarterly revenue was up 32.2% compared to the same quarter last year. As a group, equities research analysts forecast that AppFolio Inc will post 0.63 EPS for the current fiscal year.

Several equities analysts have commented on the company. Zacks Investment Research lowered AppFolio from a “buy” rating to a “hold” rating in a research report on Monday, October 1st. TheStreet lowered AppFolio from a “b-” rating to a “c+” rating in a research report on Thursday, November 1st. Morgan Stanley raised their price objective on AppFolio from $52.00 to $56.00 and gave the company a “sell” rating in a research report on Tuesday, July 31st. Finally, BidaskClub lowered AppFolio from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 22nd. Three research analysts have rated the stock with a sell rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $70.50.

In other AppFolio news, Director William R. Rauth III sold 20,000 shares of the firm’s stock in a transaction on Monday, October 15th. The stock was sold at an average price of $63.40, for a total transaction of $1,268,000.00. Following the completion of the transaction, the director now owns 20,000 shares of the company’s stock, valued at $1,268,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan Walker sold 30,000 shares of the firm’s stock in a transaction on Thursday, October 4th. The shares were sold at an average price of $73.03, for a total value of $2,190,900.00. Following the transaction, the insider now directly owns 30,000 shares of the company’s stock, valued at approximately $2,190,900. The disclosure for this sale can be found here. Company insiders own 41.96% of the company’s stock.

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About AppFolio

AppFolio, Inc provides industry-specific cloud-based software solutions for small and medium-sized businesses in the property management and legal industries. It offers AppFolio Property Manager, a cloud-based software solution for the real estate market that provides property managers of various sizes and tools and services designed to streamline their property management businesses, such as posting and tracking vacancies, leasing vacant properties, and accounting, as well as facilitating tenant, owner, and vendor communications.

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Institutional Ownership by Quarter for AppFolio (NASDAQ:APPF)

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