AppFolio (NASDAQ:APPF) Trading Down 7.8% – Should You Sell?

AppFolio, Inc. (NASDAQ:APPF) shares dropped 7.8% during mid-day trading on Tuesday . The stock traded as low as $208.57 and last traded at $208.77. Approximately 54,023 shares were traded during trading, a decline of 80% from the average daily volume of 274,860 shares. The stock had previously closed at $226.53.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Keefe, Bruyette & Woods lowered shares of AppFolio from a “market perform” rating to an “underperform” rating and reduced their price target for the stock from $255.00 to $193.00 in a research note on Tuesday. StockNews.com cut AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd. JPMorgan Chase & Co. lifted their price objective on AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. KeyCorp upped their price objective on AppFolio from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Finally, Piper Sandler raised their target price on AppFolio from $295.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $272.13.

AppFolio Price Performance

The stock’s 50-day simple moving average is $226.16 and its two-hundred day simple moving average is $233.14. The firm has a market capitalization of $7.46 billion, a P/E ratio of 100.86 and a beta of 0.81.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, July 25th. The software maker reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.16. The business had revenue of $197.38 million for the quarter, compared to analysts’ expectations of $190.57 million. AppFolio had a return on equity of 27.39% and a net margin of 17.32%. The business’s quarterly revenue was up 34.2% on a year-over-year basis. During the same period last year, the firm earned ($0.53) earnings per share. On average, analysts forecast that AppFolio, Inc. will post 3.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Maurice J. Duca sold 1,296 shares of AppFolio stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $236.77, for a total transaction of $306,853.92. Following the sale, the insider now owns 9,383 shares in the company, valued at $2,221,612.91. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, major shareholder Klaus Schauser sold 1,000 shares of AppFolio stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $270.00, for a total value of $270,000.00. Following the completion of the transaction, the insider now owns 403,000 shares in the company, valued at approximately $108,810,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Maurice J. Duca sold 1,296 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $236.77, for a total value of $306,853.92. Following the completion of the sale, the insider now directly owns 9,383 shares of the company’s stock, valued at $2,221,612.91. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,941 shares of company stock valued at $8,327,162. Corporate insiders own 9.15% of the company’s stock.

Institutional Trading of AppFolio

Several hedge funds and other institutional investors have recently bought and sold shares of APPF. GAMMA Investing LLC lifted its holdings in shares of AppFolio by 589.5% in the 2nd quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after acquiring an additional 112 shares during the last quarter. CWM LLC lifted its stake in AppFolio by 238.6% in the second quarter. CWM LLC now owns 149 shares of the software maker’s stock worth $36,000 after purchasing an additional 105 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of AppFolio by 291.3% during the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock valued at $44,000 after buying an additional 134 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of AppFolio by 688.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock worth $52,000 after buying an additional 186 shares during the period. Finally, Quarry LP lifted its stake in shares of AppFolio by 147.9% during the 2nd quarter. Quarry LP now owns 238 shares of the software maker’s stock worth $58,000 after acquiring an additional 142 shares during the last quarter. Hedge funds and other institutional investors own 62.34% of the company’s stock.

AppFolio Company Profile

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry in the United States. The company provides a cloud-based platform that enables users to automate and optimize common workflows; tools that assist with leasing, maintenance, and accounting; and other technology and services offered by third parties.