AppFolio (NASDAQ:APPF) Stock Falls 4.3% – Should You Sell?

AppFolio, Inc. (NASDAQ:APPF)’s stock price fell 4.3% on Tuesday. The company traded as low as $204.96 and last traded at $205.0240. 49,573 shares were traded during mid-day trading, a decline of 87% from the average session volume of 385,666 shares. The stock had previously closed at $214.32.

Wall Street Analysts Forecast Growth

Several brokerages have commented on APPF. UBS Group lifted their price objective on shares of AppFolio from $220.00 to $240.00 and gave the company a “neutral” rating in a research note on Friday, October 23rd. KeyCorp reiterated an “overweight” rating on shares of AppFolio in a research report on Wednesday, October 14th. Keefe, Bruyette & Woods increased their target price on AppFolio from $233.00 to $255.00 and gave the company an “outperform” rating in a research report on Wednesday, October 21st. Zacks Research cut shares of AppFolio from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 23rd. Finally, Guggenheim increased their price objective on AppFolio from $232.00 to $239.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, AppFolio presently has a consensus rating of “Moderate Buy” and an average target price of $250.00.

AppFolio Trading Up 1.8%

The firm has a market cap of $7.26 billion, a price-to-earnings ratio of 43.25 and a beta of 0.89. The business’s 50-day simple moving average is $212.42 and its two-hundred day simple moving average is $184.02.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, October 22nd. The software maker reported $1.82 EPS for the quarter, topping the consensus estimate of $1.79 by $0.03. The business had revenue of $295.69 million during the quarter, compared to analysts’ expectations of $294.46 million. AppFolio had a return on equity of 33.56% and a net margin of 15.62%. The firm’s revenue was up 18.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.31 earnings per share. On average, analysts forecast that AppFolio, Inc. will post 5.20 earnings per share for the current fiscal year.

Insider Buying and Selling at AppFolio

In other news, major shareholder Maurice Duca sold 7,200 shares of AppFolio stock in a transaction on Friday, July 31st. The stock was sold at an average price of $180.27, for a total value of $1,297,944.00. Following the completion of the sale, the insider directly owned 30,624 shares of the company’s stock, valued at approximately $5,520,588.48. The trade was a 19.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 128,617 shares of company stock worth $25,547,035. Insiders own 1.57% of the company’s stock.

Institutional Trading of AppFolio

A number of institutional investors have recently modified their holdings of APPF. Optiver Holding B.V. lifted its position in AppFolio by 827.8% in the 1st quarter. Optiver Holding B.V. now owns 167 shares of the software maker’s stock valued at $26,000 after acquiring an additional 149 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of AppFolio in the second quarter valued at about $36,000. Hilton Head Capital Partners LLC bought a new stake in AppFolio during the 3rd quarter worth approximately $40,000. Versant Capital Management Inc boosted its stake in shares of AppFolio by 169.0% during the 2nd quarter. Versant Capital Management Inc now owns 452 shares of the software maker’s stock valued at $72,000 after purchasing an additional 284 shares in the last quarter. Finally, Parallel Advisors LLC boosted its holdings in AppFolio by 25.1% in the 1st quarter. Parallel Advisors LLC now owns 703 shares of the software maker’s stock worth $111,000 after buying an additional 141 shares during the period. Hedge funds and other institutional investors own 85.19% of the company’s stock.

About AppFolio

AppFolio, Inc is a cloud-based software company that provides technology solutions for the real estate industry. Its platform is designed primarily for property management businesses, helping them manage accounting, leasing, maintenance, communications, payments, reporting and other operational activities through a centralized system.

The company’s products serve a range of property managers, including those overseeing residential, commercial, community association, student housing and senior living properties.