AppFolio (NASDAQ:APPF) Sets New 12-Month Low – Should You Sell?

AppFolio, Inc. (NASDAQ:APPF) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $166.15 and last traded at $166.2830, with a volume of 16432 shares traded. The stock had previously closed at $172.23.

Analysts Set New Price Targets

Several equities research analysts have recently commented on APPF shares. William Blair reaffirmed an “outperform” rating on shares of AppFolio in a report on Friday, January 30th. DA Davidson reduced their price objective on shares of AppFolio from $325.00 to $275.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Keefe, Bruyette & Woods decreased their target price on shares of AppFolio from $311.00 to $290.00 and set an “outperform” rating for the company in a report on Friday, January 30th. KeyCorp restated an “overweight” rating on shares of AppFolio in a report on Monday, February 2nd. Finally, JPMorgan Chase & Co. reduced their price target on shares of AppFolio from $330.00 to $300.00 and set an “overweight” rating for the company in a research 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $270.83.

AppFolio Stock Up 0.3%

The firm has a market capitalization of $6.00 billion, a PE ratio of 42.96 and a beta of 0.75. The business’s 50-day moving average price is $209.22 and its 200-day moving average price is $237.83.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Thursday, January 29th. The software maker reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.17. AppFolio had a net margin of 14.82% and a return on equity of 29.79%. The firm had revenue of $248.19 million for the quarter, compared to analyst estimates of $246.56 million. During the same quarter in the prior year, the business earned $0.92 EPS. The company’s revenue for the quarter was up 21.7% compared to the same quarter last year. On average, analysts anticipate that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

Insider Transactions at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 6,963 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $169.73, for a total value of $1,181,829.99. Following the transaction, the chief executive officer owned 52,920 shares in the company, valued at $8,982,111.60. The trade was a 11.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 4.68% of the company’s stock.

Hedge Funds Weigh In On AppFolio

Hedge funds have recently added to or reduced their stakes in the company. ProShare Advisors LLC lifted its stake in AppFolio by 3.6% in the second quarter. ProShare Advisors LLC now owns 1,078 shares of the software maker’s stock valued at $248,000 after acquiring an additional 37 shares during the last quarter. Truist Financial Corp raised its holdings in shares of AppFolio by 1.1% during the 3rd quarter. Truist Financial Corp now owns 3,928 shares of the software maker’s stock valued at $1,083,000 after purchasing an additional 43 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its stake in shares of AppFolio by 0.5% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 9,041 shares of the software maker’s stock valued at $2,082,000 after purchasing an additional 44 shares during the last quarter. Amalgamated Bank lifted its stake in shares of AppFolio by 0.4% in the 3rd quarter. Amalgamated Bank now owns 11,068 shares of the software maker’s stock valued at $3,051,000 after purchasing an additional 46 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its holdings in AppFolio by 3.1% in 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 in the last quarter. Institutional investors and hedge funds own 85.19% of the company’s stock.

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.