AppFolio (NASDAQ:APPF) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of AppFolio (NASDAQ:APPF) from a buy rating to a hold rating in a research note published on Saturday morning.

A number of other equities analysts have also recently issued reports on the stock. Wells Fargo & Company reaffirmed a “buy” rating on shares of AppFolio in a research note on Thursday, January 15th. JPMorgan Chase & Co. dropped their target price on shares of AppFolio from $330.00 to $300.00 and set an “overweight” rating for the company in a research report on Friday, January 30th. Keefe, Bruyette & Woods cut their price target on AppFolio from $311.00 to $290.00 and set an “outperform” rating on the stock in a research note on Friday, January 30th. Piper Sandler reduced their price target on AppFolio from $350.00 to $245.00 and set an “overweight” rating on the stock in a research report on Friday, January 30th. Finally, Weiss Ratings cut AppFolio from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, January 16th. Eight investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, AppFolio currently has an average rating of “Moderate Buy” and an average price target of $270.83.

AppFolio Trading Down 0.8%

AppFolio stock opened at $189.71 on Friday. AppFolio has a 1 year low of $161.13 and a 1 year high of $326.04. The company has a market cap of $6.83 billion, a PE ratio of 48.89 and a beta of 0.75. The company’s 50-day moving average is $199.77 and its two-hundred day moving average is $232.34.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, January 29th. The software maker reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.17. The company 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%. The company’s revenue for the quarter was up 21.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.92 EPS. Research analysts forecast that AppFolio will post 3.96 EPS for the current year.

Insider Transactions at AppFolio

In related news, CEO William Shane Trigg sold 6,963 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 52,920 shares in the company, valued at approximately $8,982,111.60. The trade was a 11.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.68% of the company’s stock.

Hedge Funds Weigh In On AppFolio

A number of hedge funds and other institutional investors have recently made changes to their positions in APPF. Pacer Advisors Inc. grew its holdings in shares of AppFolio by 17.7% in the 4th quarter. Pacer Advisors Inc. now owns 3,566 shares of the software maker’s stock valued at $830,000 after buying an additional 536 shares during the period. Invesco Ltd. raised its stake in AppFolio by 5.2% during the 4th quarter. Invesco Ltd. now owns 416,260 shares of the software maker’s stock worth $96,843,000 after buying an additional 20,609 shares during the period. Mercer Global Advisors Inc. ADV lifted its holdings in AppFolio by 66.7% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 2,105 shares of the software maker’s stock worth $490,000 after acquiring an additional 842 shares in the last quarter. Caitlin John LLC bought a new position in AppFolio during the fourth quarter worth about $499,000. Finally, Vident Advisory LLC grew its stake in AppFolio by 1.3% in the fourth quarter. Vident Advisory LLC now owns 8,681 shares of the software maker’s stock valued at $2,020,000 after acquiring an additional 110 shares during the period. 85.19% of the stock is owned by 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.