AppFolio (NASDAQ:APPF) Reaches New 12-Month Low – What’s Next?

Shares of AppFolio, Inc. (NASDAQ:APPF) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $176.87 and last traded at $177.36, with a volume of 510556 shares trading hands. The stock had previously closed at $184.15.

Wall Street Analyst Weigh In

Several research firms recently weighed in on APPF. Piper Sandler lowered their target price on AppFolio from $350.00 to $245.00 and set an “overweight” rating on the stock in a research report on Friday, January 30th. KeyCorp reaffirmed an “overweight” rating on shares of AppFolio in a research report on Monday. Wall Street Zen upgraded AppFolio from a “hold” rating to a “buy” rating in a research note on Saturday. Wells Fargo & Company restated a “buy” rating on shares of AppFolio in a research note on Thursday, January 15th. Finally, UBS Group set a $260.00 price target on shares of AppFolio and gave the company a “buy” rating in a report on Friday, January 30th. Eight analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $270.83.

AppFolio Price Performance

The firm’s 50-day moving average price is $222.68 and its 200-day moving average price is $247.26. The stock has a market cap of $6.46 billion, a P/E ratio of 46.32 and a beta of 0.75.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, January 29th. The software maker reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.17. The firm had revenue of $248.19 million during the quarter, compared to analyst estimates of $246.56 million. AppFolio had a net margin of 14.82% and a return on equity of 29.79%. AppFolio’s revenue for the quarter was up 21.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.92 earnings per share. Sell-side analysts expect that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Insider Transactions at AppFolio

In related news, General Counsel Evan Pickering sold 334 shares of the company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $243.67, for a total transaction of $81,385.78. Following the sale, the general counsel owned 2,969 shares of the company’s stock, valued at $723,456.23. This represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Timothy Mathias Eaton sold 517 shares of AppFolio stock in a transaction on Monday, November 24th. The stock was sold at an average price of $228.34, for a total transaction of $118,051.78. Following the completion of the transaction, the chief financial officer directly owned 10,104 shares of the company’s stock, valued at $2,307,147.36. The trade was a 4.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 8,745 shares of company stock valued at $2,097,550 in the last ninety days. Corporate insiders own 4.68% of the company’s stock.

Institutional Investors Weigh In On AppFolio

Several large investors have recently added to or reduced their stakes in APPF. EverSource Wealth Advisors LLC lifted its position in AppFolio by 101.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock worth $26,000 after buying an additional 56 shares during the last quarter. Root Financial Partners LLC bought a new stake in shares of AppFolio in the 3rd quarter worth about $31,000. TD Private Client Wealth LLC boosted its stake in shares of AppFolio by 2,116.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 133 shares of the software maker’s stock worth $37,000 after purchasing an additional 127 shares during the period. First Horizon Corp bought a new position in AppFolio during the 3rd quarter valued at about $39,000. Finally, Hantz Financial Services Inc. raised its position in AppFolio by 373.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 142 shares of the software maker’s stock worth $39,000 after purchasing an additional 112 shares during the period. 85.19% of the stock is owned by institutional investors.

AppFolio Company 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.