AppFolio (NASDAQ:APPF) Reaches New 12-Month Low – Here’s Why

AppFolio, Inc. (NASDAQ:APPF)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $175.67 and last traded at $177.0010, with a volume of 147766 shares trading hands. The stock had previously closed at $188.30.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. William Blair reiterated an “outperform” rating on shares of AppFolio in a research note on Friday, January 30th. UBS Group set a $260.00 price target on AppFolio and gave the company a “buy” rating 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 report on Friday, January 30th. Wall Street Zen raised shares of AppFolio from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, KeyCorp restated an “overweight” rating on shares of AppFolio in a research note on Monday, February 2nd. Eight research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, AppFolio currently has a consensus rating of “Moderate Buy” and a consensus price target of $270.83.

AppFolio Stock Down 4.8%

The stock has a fifty day moving average price of $220.95 and a two-hundred day moving average price of $246.02. The company has a market cap of $6.44 billion, a price-to-earnings ratio of 46.03 and a beta of 0.75.

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

Insider Activity

In other AppFolio news, CFO Timothy Mathias Eaton sold 517 shares of AppFolio stock in a transaction on Monday, November 24th. The stock was sold at an average price of $228.34, for a total value of $118,051.78. Following the completion of the transaction, the chief financial officer directly owned 10,104 shares of the company’s stock, valued at $2,307,147.36. The trade was a 4.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William Shane Trigg sold 3,947 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $240.45, for a total value of $949,056.15. Following the sale, the chief executive officer owned 51,530 shares of the company’s stock, valued at approximately $12,390,388.50. The trade was a 7.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 8,745 shares of company stock worth $2,097,550. Corporate insiders own 4.68% of the company’s stock.

Institutional Investors Weigh In On AppFolio

Large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of AppFolio by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 2,560,460 shares of the software maker’s stock worth $595,691,000 after buying an additional 101,466 shares in the last quarter. Principal Financial Group Inc. grew its position in AppFolio by 6.8% in the fourth quarter. Principal Financial Group Inc. now owns 1,245,949 shares of the software maker’s stock valued at $289,880,000 after acquiring an additional 79,197 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in shares of AppFolio by 73.6% in the second quarter. William Blair Investment Management LLC now owns 733,428 shares of the software maker’s stock worth $168,894,000 after acquiring an additional 310,834 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of AppFolio by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 472,491 shares of the software maker’s stock worth $109,947,000 after acquiring an additional 11,588 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of AppFolio by 26.1% in the 3rd quarter. Invesco Ltd. now owns 395,651 shares of the software maker’s stock valued at $109,065,000 after purchasing an additional 81,778 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.