AppFolio, Inc. (NASDAQ:APPF – Get Free Report)’s share price fell 5.3% during trading on Tuesday . The stock traded as low as $168.89 and last traded at $169.5850. 80,103 shares traded hands during trading, a decline of 79% from the average daily volume of 382,148 shares. The stock had previously closed at $179.09.
Wall Street Analyst Weigh In
Several analysts recently issued reports on APPF shares. KeyCorp reiterated an “overweight” rating on shares of AppFolio in a report on Monday, July 6th. UBS Group set a $210.00 target price on AppFolio in a research report on Friday, April 24th. Benchmark raised their price target on AppFolio from $222.00 to $226.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Piper Sandler lowered their price target on AppFolio from $245.00 to $210.00 and set an “overweight” rating for the company in a research note on Friday, April 24th. Finally, Wall Street Zen raised AppFolio from a “hold” rating to a “buy” rating in a research note on Saturday. Nine investment 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, AppFolio presently has an average rating of “Moderate Buy” and an average price target of $252.29.
View Our Latest Analysis on AppFolio
AppFolio Price Performance
AppFolio (NASDAQ:APPF – Get Free Report) last posted its earnings results on Thursday, April 23rd. The software maker reported $1.61 EPS for the quarter, topping the consensus estimate of $1.47 by $0.14. AppFolio had a net margin of 15.27% and a return on equity of 32.35%. The firm had revenue of $262.21 million for the quarter, compared to the consensus estimate of $258.13 million. During the same period in the prior year, the business posted $1.21 earnings per share. The business’s quarterly revenue was up 20.7% on a year-over-year basis. On average, research analysts expect that AppFolio, Inc. will post 5.04 EPS for the current year.
Insiders Place Their Bets
In other AppFolio news, CEO William Shane Trigg sold 3,584 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $152.50, for a total transaction of $546,560.00. Following the transaction, the chief executive officer owned 76,547 shares in the company, valued at $11,673,417.50. This trade represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Timothy Mathias Eaton sold 2,585 shares of AppFolio stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $160.07, for a total transaction of $413,780.95. Following the completion of the transaction, the chief financial officer directly owned 18,036 shares in the company, valued at approximately $2,887,022.52. This represents a 12.54% decrease in their position. 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 sold 30,657 shares of company stock worth $5,310,740 in the last three months. 1.57% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of APPF. EverSource Wealth Advisors LLC grew its position in shares of AppFolio by 101.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock valued at $26,000 after purchasing an additional 56 shares during the last quarter. Optiver Holding B.V. boosted its stake in AppFolio by 827.8% during 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. grew its holdings in 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 buying an additional 63 shares during the last quarter. Advisory Services Network LLC bought a new position in AppFolio in the 3rd quarter worth approximately $55,000. Finally, Employees Retirement System of Texas bought a new position in AppFolio in the 3rd quarter worth approximately $58,000. Institutional investors and hedge funds own 85.19% of the company’s stock.
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.
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