AppFolio (NASDAQ:APPF) Stock Price Crosses Above 50-Day Moving Average – Should You Sell?

AppFolio, Inc. (NASDAQ:APPF)’s stock price crossed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $202.54 and traded as high as $214.00. AppFolio shares last traded at $206.27, with a volume of 336,308 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Weiss Ratings raised shares of AppFolio from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Guggenheim began coverage on shares of AppFolio in a research report on Wednesday, July 22nd. They set a “buy” rating and a $232.00 target price on the stock. Zacks Research raised shares of AppFolio from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. KeyCorp boosted their price objective on AppFolio from $255.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, September 17th. Finally, DA Davidson set a $225.00 price objective on AppFolio in a research report on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $246.62.

AppFolio Stock Down 2.7%

The stock has a market cap of $7.24 billion, a PE ratio of 46.67 and a beta of 0.85. The business has a 50 day moving average price of $203.69 and a 200 day moving average price of $177.24.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Thursday, July 23rd. The software maker reported $1.71 EPS for the quarter, topping the consensus estimate of $1.69 by $0.02. The company had revenue of $281.12 million during the quarter, compared to analyst estimates of $277.35 million. AppFolio had a net margin of 15.13% and a return on equity of 32.42%. The firm’s revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.38 EPS. On average, research analysts predict that AppFolio, Inc. will post 5.17 earnings per share for the current fiscal year.

Insider Buying and Selling at AppFolio

In related news, major shareholder Maurice J. Duca sold 2,656 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $221.85, for a total value of $589,233.60. Following the sale, the insider directly owned 8,000 shares in the company, valued at approximately $1,774,800. The trade was a 24.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Timothy Eaton sold 373 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $202.61, for a total transaction of $75,573.53. Following the completion of the transaction, the chief financial officer directly owned 16,714 shares in the company, valued at $3,386,423.54. The trade was a 2.18% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 176,217 shares of company stock valued at $34,157,323. 1.57% of the stock is owned by insiders.

Institutional Investors Weigh In On AppFolio

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. boosted its position in AppFolio by 20.9% in the 1st quarter. Principal Financial Group Inc. now owns 1,505,882 shares of the software maker’s stock valued at $237,665,000 after buying an additional 259,933 shares during the period. Wellington Management Group LLP purchased a new stake in shares of AppFolio during the second quarter worth $36,063,000. Lead Edge Capital Management LLC purchased a new stake in shares of AppFolio during the first quarter worth $33,183,000. Bank of New York Mellon Corp acquired a new stake in shares of AppFolio in the second quarter valued at $23,524,000. Finally, Norges Bank acquired a new stake in shares of AppFolio in the fourth quarter valued at $22,794,000. 85.19% of the stock is owned by hedge funds and other institutional investors.

About AppFolio

AppFolio, Inc provides cloud-based software and technology solutions for the real estate industry. Its platform is designed to help property managers and real estate businesses manage core operations, including accounting, leasing, maintenance, communications, payments, reporting and resident services.

The company’s AppFolio Property Manager platform serves a range of property types, including residential, commercial, student housing and community associations. AppFolio also offers solutions for real estate investment management, along with workflow automation, data and reporting tools, online payment processing and other services intended to help customers operate more efficiently and improve the experience for owners, residents and tenants.

AppFolio was founded in 2006 and is headquartered in Santa Barbara, California.