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 Monday . The stock traded as low as $142.56 and last traded at $143.4770, with a volume of 231948 shares traded. The stock had previously closed at $151.50.

Wall Street Analyst Weigh In

APPF has been the topic of a number of research analyst reports. Wall Street Zen raised AppFolio from a “hold” rating to a “buy” rating in a report on Sunday, March 15th. Weiss Ratings downgraded shares of AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. UBS Group set a $210.00 target price on shares of AppFolio in a research report on Friday, April 24th. Piper Sandler lowered their target price on shares of AppFolio from $245.00 to $210.00 and set an “overweight” rating on the stock in a research note on Friday, April 24th. Finally, Benchmark boosted their price target on shares of AppFolio from $222.00 to $226.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $252.29.

AppFolio Price Performance

The company has a fifty day moving average price of $160.61 and a two-hundred day moving average price of $185.21. The firm has a market cap of $5.13 billion, a price-to-earnings ratio of 34.58 and a beta of 0.80.

AppFolio (NASDAQ:APPF) last released its earnings results on Thursday, April 23rd. The software maker reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.14. AppFolio had a return on equity of 32.35% and a net margin of 15.27%.The firm had revenue of $262.21 million for the quarter, compared to analyst estimates of $258.13 million. During the same period in the previous year, the company earned $1.21 earnings per share. AppFolio’s revenue was up 20.7% compared to the same quarter last year. On average, research analysts expect that AppFolio, Inc. will post 5.04 earnings per share for the current fiscal year.

Insider Buying and Selling at AppFolio

In related news, insider Elizabeth Erin Barat sold 1,978 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $158.12, for a total value of $312,761.36. Following the sale, the insider directly owned 21,545 shares in the company, valued at $3,406,695.40. The trade was a 8.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Evan Pickering sold 660 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $155.25, for a total transaction of $102,465.00. Following the sale, the general counsel directly owned 6,555 shares of the company’s stock, valued at approximately $1,017,663.75. This represents a 9.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 8,957 shares of company stock valued at $1,399,501 over the last quarter. Company insiders own 1.57% of the company’s stock.

Institutional Investors Weigh In On AppFolio

Several large investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its position in shares of AppFolio by 101.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock worth $26,000 after purchasing an additional 56 shares during the period. Optiver Holding B.V. boosted its position in shares of AppFolio by 827.8% in the 1st quarter. Optiver Holding B.V. now owns 167 shares of the software maker’s stock valued at $26,000 after purchasing an additional 149 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of AppFolio by 48.8% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker’s stock valued at $53,000 after purchasing an additional 63 shares during the period. Advisory Services Network LLC acquired a new position in shares of AppFolio in the 3rd quarter valued at $55,000. Finally, Employees Retirement System of Texas purchased a new position in AppFolio in the 3rd quarter worth about $58,000. 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.