AppFolio (NASDAQ:APPF) Reaches New 52-Week Low – Should You Sell?

Shares of AppFolio, Inc. (NASDAQ:APPF) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $158.71 and last traded at $162.3060, with a volume of 71481 shares traded. The stock had previously closed at $166.97.

Analyst Upgrades and Downgrades

APPF has been the subject of a number of recent analyst reports. William Blair reiterated an “outperform” rating on shares of AppFolio in a research report on Friday, January 30th. Weiss Ratings cut AppFolio from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, January 16th. Piper Sandler dropped their price objective on shares of AppFolio from $350.00 to $245.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th. Wall Street Zen upgraded shares of AppFolio from a “hold” rating to a “buy” rating in a research note on Sunday, March 15th. Finally, KeyCorp reissued an “overweight” rating on shares of AppFolio in a report on Monday, February 2nd. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $270.83.

AppFolio Trading Down 2.8%

The company has a market capitalization of $5.84 billion, a PE ratio of 41.83 and a beta of 0.75. The business’s 50-day simple moving average is $188.13 and its two-hundred day simple moving average is $225.01.

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

Insider Activity at AppFolio

In other news, CEO William Shane Trigg sold 6,963 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer owned 52,920 shares in the company, valued at $8,982,111.60. This represents a 11.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 4.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AppFolio

Hedge funds have recently modified their holdings of the stock. Rockefeller Capital Management L.P. grew its position in shares of AppFolio by 90,272.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 52,416 shares of the software maker’s stock valued at $12,195,000 after purchasing an additional 52,358 shares during the last quarter. Pacer Advisors Inc. grew its holdings in AppFolio by 17.7% in the 4th quarter. Pacer Advisors Inc. now owns 3,566 shares of the software maker’s stock valued at $830,000 after buying an additional 536 shares during the last quarter. Invesco Ltd. increased its position in AppFolio by 5.2% in the 4th quarter. Invesco Ltd. now owns 416,260 shares of the software maker’s stock worth $96,843,000 after buying an additional 20,609 shares during the period. Mercer Global Advisors Inc. ADV boosted its position in shares of AppFolio by 66.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 2,105 shares of the software maker’s stock valued at $490,000 after acquiring an additional 842 shares during the period. Finally, Caitlin John LLC acquired a new stake in shares of AppFolio in the fourth quarter worth $499,000. 85.19% of the stock is owned by institutional investors and hedge funds.

About AppFolio

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.