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

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

Analysts Set New Price Targets

APPF has been the subject of several research analyst reports. Piper Sandler lowered their price target on shares of AppFolio from $350.00 to $245.00 and set an “overweight” rating for the company in a report on Friday, January 30th. DA Davidson reduced their price objective on AppFolio from $325.00 to $275.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. JPMorgan Chase & Co. dropped their target price on AppFolio from $330.00 to $300.00 and set an “overweight” rating for the company in a research report on Friday, January 30th. Wells Fargo & Company restated a “buy” rating on shares of AppFolio in a report on Thursday, January 15th. Finally, UBS Group set a $260.00 price objective on shares of AppFolio and gave the company a “buy” rating in a report on Friday, January 30th. Eight analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $270.83.

AppFolio Trading Down 4.8%

The stock has a market cap of $6.44 billion, a P/E ratio of 46.03 and a beta of 0.75. The business has a 50-day simple moving average of $220.95 and a 200 day simple moving average of $246.02.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Thursday, January 29th. The software maker reported $1.39 earnings per share (EPS) for the quarter, topping 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 company had revenue of $248.19 million during the quarter, compared to the consensus estimate of $246.56 million. During the same period last year, the company earned $0.92 earnings per share. The firm’s revenue was up 21.7% compared to the same quarter last year. As a group, equities analysts expect that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Insider Transactions at AppFolio

In related news, CFO Timothy Mathias Eaton sold 517 shares of the business’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $228.34, for a total value of $118,051.78. Following the transaction, the chief financial officer owned 10,104 shares in the company, valued at $2,307,147.36. The trade was a 4.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William Shane Trigg sold 3,947 shares of the stock in a transaction dated Monday, November 17th. The stock was 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. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 8,745 shares of company stock worth $2,097,550. Company insiders own 4.68% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC bought a new stake in shares of AppFolio in the 3rd quarter valued at $8,275,000. Highland Capital Management LLC acquired a new stake in AppFolio in the third quarter worth $1,435,000. Mission Wealth Management LP grew its holdings in 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 purchasing an additional 7,042 shares during the period. Quantum Portfolio Management LLC increased its stake in AppFolio by 134.6% in the third quarter. Quantum Portfolio Management LLC now owns 10,002 shares of the software maker’s stock valued at $2,757,000 after purchasing an additional 5,739 shares in the last quarter. Finally, AGF Management Ltd. acquired a new position in shares of AppFolio during the second quarter valued at about $3,296,000. 85.19% of the stock is owned by institutional investors and hedge funds.

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.