AppFolio (NASDAQ:APPF) Shares Up 4.6% – Should You Buy?

Shares of AppFolio, Inc. (NASDAQ:APPF) traded up 4.6% during mid-day trading on Tuesday . The company traded as high as $164.88 and last traded at $165.21. 14,866 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 382,755 shares. The stock had previously closed at $157.91.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Keefe, Bruyette & Woods decreased their price objective on AppFolio from $311.00 to $290.00 and set an “outperform” rating on the stock in a research note on Friday, January 30th. Benchmark boosted their price objective on shares of AppFolio from $222.00 to $226.00 and gave the company a “buy” rating in a research report on Friday, April 24th. DA Davidson decreased their target price on shares of AppFolio from $325.00 to $275.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. UBS Group set a $210.00 price target on AppFolio in a research note on Friday, April 24th. Finally, William Blair reaffirmed an “outperform” rating on shares of AppFolio in a research note on Friday, January 30th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $252.29.

AppFolio Trading Up 1.9%

The company’s 50-day moving average price is $162.25 and its two-hundred day moving average price is $198.33. The company has a market cap of $5.69 billion, a P/E ratio of 38.32 and a beta of 0.82.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Thursday, April 23rd. The software maker reported $1.61 earnings per share for the quarter, beating 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 business had revenue of $262.21 million during the quarter, compared to the consensus estimate of $258.13 million. During the same period in the previous year, the business earned $1.21 EPS. The business’s quarterly revenue was up 20.7% on a year-over-year basis. As a group, analysts anticipate that AppFolio, Inc. will post 5.04 earnings per share for the current year.

Insider Buying and Selling at AppFolio

In related news, insider Elizabeth Erin Barat sold 1,978 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was 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. This trade represents a 8.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 1.57% of the company’s stock.

Institutional Trading of AppFolio

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. M&T Bank Corp raised its holdings in AppFolio by 1,643.8% during the 4th quarter. M&T Bank Corp now owns 96,153 shares of the software maker’s stock worth $22,370,000 after buying an additional 90,639 shares during the period. Nordea Investment Management AB purchased a new stake in shares of AppFolio in the fourth quarter valued at $8,795,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of AppFolio during the third quarter valued at $8,275,000. Citigroup Inc. boosted its position in AppFolio by 140.3% during the 3rd quarter. Citigroup Inc. now owns 15,641 shares of the software maker’s stock worth $4,312,000 after acquiring an additional 9,132 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of AppFolio by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 2,458,994 shares of the software maker’s stock valued at $677,846,000 after purchasing an additional 55,277 shares during the period. 85.19% of the stock is owned by institutional investors and hedge funds.

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.