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

AppFolio, Inc. (NASDAQ:APPF)’s stock price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $148.35 and last traded at $148.1450, with a volume of 19791 shares. The stock had previously closed at $154.66.

Analyst Ratings Changes

APPF has been the subject of several research analyst reports. Weiss Ratings cut AppFolio from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, January 16th. Benchmark initiated coverage on AppFolio in a research report on Thursday, March 26th. They issued a “buy” rating and a $222.00 price objective for the company. UBS Group set a $260.00 price objective on AppFolio and gave the stock a “buy” rating in a research report on Friday, January 30th. Wells Fargo & Company reiterated a “buy” rating on shares of AppFolio in a research report on Thursday, January 15th. Finally, DA Davidson cut their price objective on AppFolio from $325.00 to $275.00 and set a “buy” rating for the company in a research report on Friday, January 30th. One investment 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, AppFolio currently has an average rating of “Buy” and a consensus price target of $263.86.

AppFolio Price Performance

The firm has a market cap of $5.39 billion, a PE ratio of 38.44 and a beta of 0.84. The business has a 50-day moving average price of $173.59 and a two-hundred day moving average price of $215.09.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results 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 business had revenue of $248.19 million during the quarter, compared to analysts’ expectations of $246.56 million. During the same quarter last year, the business posted $0.92 earnings per share. The business’s revenue for the quarter was up 21.7% on a year-over-year basis. Equities analysts expect that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Insider Buying and Selling at AppFolio

In other news, CEO William Shane Trigg sold 6,963 shares of the firm’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 transaction, the chief executive officer owned 52,920 shares in the company, valued at $8,982,111.60. This trade 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 the SEC website. 4.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Truist Financial Corp increased its position in shares of AppFolio by 1.1% in the third quarter. Truist Financial Corp now owns 3,928 shares of the software maker’s stock valued at $1,083,000 after buying an additional 43 shares in the last quarter. Amalgamated Bank boosted its stake in shares of AppFolio by 0.4% during the third quarter. Amalgamated Bank now owns 11,068 shares of the software maker’s stock valued at $3,051,000 after acquiring an additional 46 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its stake in shares of AppFolio by 3.1% during the third quarter. Linden Thomas Advisory Services LLC now owns 1,515 shares of the software maker’s stock valued at $418,000 after acquiring an additional 46 shares during the last quarter. Woodline Partners LP boosted its stake in shares of 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 acquiring an additional 50 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of 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 acquiring an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 85.19% of the company’s stock.

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.