AppFolio (NASDAQ:APPF) Lowered to Hold Rating by Wall Street Zen

AppFolio (NASDAQ:APPF) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Other equities research analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods cut their price target on shares of AppFolio from $311.00 to $290.00 and set an “outperform” rating on the stock in a report on Friday, January 30th. DA Davidson dropped their price objective on AppFolio from $325.00 to $275.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. William Blair reissued an “outperform” rating on shares of AppFolio in a research report on Friday, January 30th. UBS Group set a $260.00 target price on shares of AppFolio and gave the company a “buy” rating in a research note on Friday, January 30th. Finally, Wells Fargo & Company reaffirmed a “buy” rating on shares of AppFolio in a report on Thursday, January 15th. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $270.83.

AppFolio Price Performance

Shares of NASDAQ APPF opened at $191.17 on Friday. AppFolio has a 1 year low of $161.13 and a 1 year high of $326.04. The company’s 50-day moving average is $200.71 and its 200 day moving average is $233.40. The stock has a market capitalization of $6.88 billion, a P/E ratio of 49.27 and a beta of 0.75.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Thursday, January 29th. The software maker reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.17. The company had revenue of $248.19 million during the quarter, compared to analysts’ expectations of $246.56 million. AppFolio had a net margin of 14.82% and a return on equity of 29.79%. AppFolio’s revenue was up 21.7% on a year-over-year basis. During the same period last year, the company posted $0.92 EPS. Research analysts anticipate that AppFolio will post 3.96 earnings per share for the current year.

Insider Transactions at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 6,963 shares of AppFolio stock in a transaction 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 directly owned 52,920 shares of the company’s stock, valued at $8,982,111.60. The trade was a 11.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.68% of the stock is currently owned by corporate insiders.

Institutional Trading of AppFolio

Several hedge funds have recently modified their holdings of APPF. Pacer Advisors Inc. raised its stake in shares of AppFolio by 17.7% during 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 last quarter. Invesco Ltd. increased its holdings in AppFolio by 5.2% in the 4th quarter. Invesco Ltd. now owns 416,260 shares of the software maker’s stock worth $96,843,000 after acquiring an additional 20,609 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in AppFolio by 66.7% in the 4th 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 acquired a new position in AppFolio during the fourth quarter worth $499,000. Finally, Vident Advisory LLC raised its position in AppFolio by 1.3% during the fourth quarter. Vident Advisory LLC now owns 8,681 shares of the software maker’s stock worth $2,020,000 after acquiring an additional 110 shares during the period. 85.19% of the stock is owned by hedge funds and other 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.