AppFolio, Inc. (NASDAQ:APPF – Get Free Report)’s share price passed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $208.66 and traded as low as $202.21. AppFolio shares last traded at $203.31, with a volume of 329,570 shares traded.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on APPF shares. Guggenheim assumed coverage on shares of AppFolio in a research note on Wednesday, July 22nd. They issued a “buy” rating and a $232.00 target price for the company. UBS Group cut AppFolio from a “buy” rating to a “neutral” rating and set a $220.00 target price on the stock. in a research report on Wednesday. Zacks Research cut AppFolio from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 23rd. DA Davidson set a $240.00 price objective on AppFolio in a report on Monday, September 28th. Finally, Weiss Ratings upgraded AppFolio from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $249.75.
Get Our Latest Stock Report on AppFolio
AppFolio Stock Performance
AppFolio (NASDAQ:APPF – Get Free Report) last issued its earnings results on Thursday, July 23rd. The software maker reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.02. AppFolio had a net margin of 15.13% and a return on equity of 32.42%. The company had revenue of $281.12 million for the quarter, compared to the consensus estimate of $277.35 million. During the same period in the previous year, the firm earned $1.38 earnings per share. AppFolio’s quarterly revenue was up 19.3% compared to the same quarter last year. Equities research analysts expect that AppFolio, Inc. will post 5.17 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other AppFolio news, CFO Timothy Eaton sold 373 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $202.61, for a total value of $75,573.53. Following the sale, the chief financial officer directly owned 16,714 shares in the company, valued at $3,386,423.54. This trade represents a 2.18% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Maurice J. Duca sold 2,656 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $221.85, for a total value of $589,233.60. Following the transaction, the insider directly owned 8,000 shares of the company’s stock, valued at approximately $1,774,800. This represents a 24.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 165,517 shares of company stock worth $32,227,689 in the last ninety days. Corporate insiders own 1.57% of the company’s stock.
Hedge Funds Weigh In On AppFolio
Several large investors have recently bought and sold shares of APPF. Optiver Holding B.V. raised its position in 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 last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of AppFolio in the second quarter valued at about $36,000. Versant Capital Management Inc boosted its stake in shares of AppFolio by 169.0% during the second quarter. Versant Capital Management Inc now owns 452 shares of the software maker’s stock worth $72,000 after buying an additional 284 shares during the period. Parallel Advisors LLC grew its holdings in shares of AppFolio by 25.1% during the first quarter. Parallel Advisors LLC now owns 703 shares of the software maker’s stock worth $111,000 after buying an additional 141 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in AppFolio by 74.5% in the 2nd quarter. GAMMA Investing LLC now owns 834 shares of the software maker’s stock valued at $134,000 after acquiring an additional 356 shares during the period. Institutional investors and hedge funds own 85.19% of the company’s stock.
About AppFolio
AppFolio, Inc (NASDAQ:APPF) develops cloud-based software and technology solutions for the real estate industry. Its platform is designed primarily for property managers and real estate businesses, helping them manage operations, accounting, leasing, maintenance, communication, payments and other property-related workflows from a centralized system.
The company’s offerings include AppFolio Property Manager and related services for residential, commercial and community association properties.
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