AppFolio (NASDAQ:APPF) Share Price Crosses Below 50 Day Moving Average – Time to Sell?

AppFolio, Inc. (NASDAQ:APPF) passed below its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $210.07 and traded as low as $198.67. AppFolio shares last traded at $203.18, with a volume of 402,109 shares changing hands.

Analyst Ratings Changes

APPF has been the topic of several recent analyst reports. Zacks Research downgraded shares of AppFolio from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 23rd. Wall Street Zen cut shares of AppFolio from a “buy” rating to a “hold” rating in a research report on Sunday, July 26th. Weiss Ratings raised shares of AppFolio from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. UBS Group downgraded AppFolio from a “buy” rating to a “neutral” rating and set a $220.00 price objective for the company. in a report on Wednesday, October 7th. Finally, DA Davidson set a $240.00 price target on AppFolio in a research note on Monday, September 28th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $249.75.

AppFolio Stock Up 2.1%

The company has a market capitalization of $7.20 billion, a price-to-earnings ratio of 46.39 and a beta of 0.89. The firm has a 50 day moving average price of $210.07 and a two-hundred day moving average price of $180.23.

AppFolio (NASDAQ:APPF) last announced its earnings results on Thursday, July 23rd. The software maker reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.02. AppFolio had a return on equity of 32.42% and a net margin of 15.13%. The company had revenue of $281.12 million for the quarter, compared to analyst estimates of $277.35 million. During the same period in the prior year, the company posted $1.38 EPS. AppFolio’s quarterly revenue was up 19.3% on a year-over-year basis. Analysts predict that AppFolio, Inc. will post 5.18 earnings per share for the current year.

Insider Buying and Selling at AppFolio

In other AppFolio news, major shareholder Maurice J. Duca sold 2,656 shares of the stock in a transaction on Friday, August 21st. The stock was 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 of the company’s stock, valued at $1,774,800. This trade represents a 24.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Timothy Eaton sold 373 shares of AppFolio stock in a transaction that occurred on Wednesday, August 19th. The shares were 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 approximately $3,386,423.54. This trade represents a 2.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 154,517 shares of company stock valued at $30,246,084. 1.57% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Optiver Holding B.V. raised its position in shares of AppFolio by 827.8% during the 1st quarter. Optiver Holding B.V. now owns 167 shares of the software maker’s stock worth $26,000 after buying an additional 149 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of AppFolio in the 2nd quarter worth approximately $36,000. Versant Capital Management Inc lifted its stake in AppFolio by 169.0% during the second quarter. Versant Capital Management Inc now owns 452 shares of the software maker’s stock valued at $72,000 after purchasing an additional 284 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of AppFolio by 25.1% during the 1st quarter. Parallel Advisors LLC now owns 703 shares of the software maker’s stock valued at $111,000 after acquiring an additional 141 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of AppFolio by 74.5% during the second quarter. GAMMA Investing LLC now owns 834 shares of the software maker’s stock valued at $134,000 after purchasing an additional 356 shares during the last quarter. 85.19% of the stock is owned by institutional investors and hedge funds.

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.