AppFolio (NASDAQ:APPF) Reaches New 52-Week Low – What’s Next?

AppFolio, Inc. (NASDAQ:APPF) hit a new 52-week low on Monday . The company traded as low as $154.09 and last traded at $157.0170, with a volume of 29337 shares traded. The stock had previously closed at $155.68.

Wall Street Analyst Weigh In

Several brokerages have commented on APPF. Wells Fargo & Company reiterated a “buy” rating on shares of AppFolio in a research note on Thursday, January 15th. Piper Sandler lowered their price target on AppFolio from $350.00 to $245.00 and set an “overweight” rating on the stock in a report on Friday, January 30th. Wall Street Zen raised AppFolio from a “hold” rating to a “buy” rating in a research report on Sunday, March 15th. Benchmark assumed coverage on AppFolio in a research report on Thursday. They issued a “buy” rating and a $222.00 target price for the company. Finally, UBS Group set a $260.00 target price on shares of AppFolio and gave the company a “buy” rating in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $263.86.

AppFolio Stock Performance

The stock has a market capitalization of $5.58 billion, a P/E ratio of 39.97 and a beta of 0.75. The firm has a fifty day moving average price of $183.37 and a two-hundred day moving average price of $221.53.

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

Insider Activity

In other news, CEO William Shane Trigg sold 6,963 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $169.73, for a total transaction of $1,181,829.99. Following the completion of the sale, the chief executive officer owned 52,920 shares of the company’s stock, valued at $8,982,111.60. This represents a 11.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.68% of the stock is currently owned by corporate insiders.

Institutional Trading of AppFolio

Several large investors have recently added to or reduced their stakes in APPF. Truist Financial Corp boosted its stake 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 worth $1,083,000 after acquiring an additional 43 shares during the last quarter. Amalgamated Bank raised its holdings in AppFolio by 0.4% in the 3rd quarter. Amalgamated Bank now owns 11,068 shares of the software maker’s stock worth $3,051,000 after purchasing an additional 46 shares during the period. Linden Thomas Advisory Services LLC raised its holdings in AppFolio by 3.1% in the 3rd 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 lifted its position in AppFolio by 2.9% during the first quarter. Woodline Partners LP now owns 1,754 shares of the software maker’s stock valued at $386,000 after purchasing an additional 50 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in AppFolio by 101.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock valued at $26,000 after purchasing an additional 56 shares during the period. 85.19% of the stock is currently 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.