AppFolio (NASDAQ:APPF) Hits New 1-Year Low – Here’s Why

AppFolio, Inc. (NASDAQ:APPF)’s share price hit 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 changing hands. The stock had previously closed at $166.97.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on APPF. Weiss Ratings cut shares of AppFolio from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, January 16th. UBS Group set a $260.00 target price on shares of AppFolio and gave the company a “buy” rating in a research note on Friday, January 30th. William Blair restated an “outperform” rating on shares of AppFolio in a research note on Friday, January 30th. Wall Street Zen upgraded AppFolio from a “hold” rating to a “buy” rating in a research note on Sunday, March 15th. Finally, KeyCorp restated an “overweight” rating on shares of AppFolio in a research note on Monday, February 2nd. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $270.83.

AppFolio Stock Performance

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

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, January 29th. The software maker reported $1.39 earnings per share (EPS) 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 company had revenue of $248.19 million for the quarter, compared to the consensus estimate of $246.56 million. During the same quarter in the previous year, the business earned $0.92 EPS. AppFolio’s revenue was up 21.7% compared to the same quarter last year. Equities research analysts forecast that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO William Shane Trigg sold 6,963 shares of the firm’s stock in a transaction on 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 directly owned 52,920 shares in the company, valued at $8,982,111.60. This trade represents a 11.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.68% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. ProShare Advisors LLC grew its holdings in AppFolio by 3.6% in the second quarter. ProShare Advisors LLC now owns 1,078 shares of the software maker’s stock worth $248,000 after purchasing an additional 37 shares during the last quarter. Truist Financial Corp lifted its stake in shares of AppFolio by 1.1% in the 3rd quarter. Truist Financial Corp now owns 3,928 shares of the software maker’s stock valued at $1,083,000 after purchasing an additional 43 shares during the period. Amalgamated Bank boosted its holdings in AppFolio by 0.4% during the third quarter. Amalgamated Bank now owns 11,068 shares of the software maker’s stock worth $3,051,000 after buying an additional 46 shares in the last quarter. Linden Thomas Advisory Services LLC grew its position in 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 buying an additional 46 shares during the period. Finally, Woodline Partners LP increased its holdings in AppFolio by 2.9% in the first quarter. Woodline Partners LP now owns 1,754 shares of the software maker’s stock valued at $386,000 after buying an additional 50 shares in 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.