AppFolio (NASDAQ:APPF) Hits New 1-Year Low – Should You Sell?

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on APPF shares. UBS Group set a $260.00 price target on AppFolio and gave the stock a “buy” rating in a research report on Friday, January 30th. Keefe, Bruyette & Woods cut their price objective on shares of AppFolio from $311.00 to $290.00 and set an “outperform” rating on the stock in a research report on Friday, January 30th. Weiss Ratings lowered shares of AppFolio from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, January 16th. JPMorgan Chase & Co. dropped their target price on shares of AppFolio from $330.00 to $300.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th. Finally, Wells Fargo & Company reiterated a “buy” rating on shares of AppFolio in a report on Thursday, January 15th. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $270.83.

AppFolio Price Performance

The stock has a market cap of $5.71 billion, a PE ratio of 40.87 and a beta of 0.75. The company has a 50 day moving average price of $185.84 and a two-hundred day moving average price of $223.68.

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

Insider Transactions at AppFolio

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in APPF. Wealth Enhancement Advisory Services LLC purchased a new stake in AppFolio during the 3rd quarter valued at $8,275,000. Highland Capital Management LLC bought a new position in shares of AppFolio during the 3rd quarter valued at $1,435,000. Citigroup Inc. boosted its stake in shares of AppFolio by 140.3% in the 3rd quarter. Citigroup Inc. now owns 15,641 shares of the software maker’s stock worth $4,312,000 after buying an additional 9,132 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of AppFolio by 2.3% in the third quarter. Vanguard Group Inc. now owns 2,458,994 shares of the software maker’s stock worth $677,846,000 after acquiring an additional 55,277 shares during the period. Finally, Mission Wealth Management LP grew its holdings in shares of AppFolio by 16.7% in the third quarter. Mission Wealth Management LP now owns 49,201 shares of the software maker’s stock worth $13,563,000 after acquiring an additional 7,042 shares during the period. 85.19% of the stock is owned by hedge funds and other 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.