AppFolio (NASDAQ:APPF) Rating Lowered to Hold at BidaskClub

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BidaskClub lowered shares of AppFolio (NASDAQ:APPF) from a buy rating to a hold rating in a research note released on Saturday morning, BidAskClub reports.

APPF has been the subject of several other reports. Zacks Investment Research lowered shares of AppFolio from a hold rating to a strong sell rating in a report on Tuesday, March 5th. Morgan Stanley increased their target price on shares of AppFolio from $56.00 to $61.00 and gave the stock an underweight rating in a report on Monday, March 4th. DA Davidson increased their target price on shares of AppFolio to $73.00 and gave the stock a neutral rating in a report on Tuesday, April 16th. Finally, William Blair reissued an outperform rating on shares of AppFolio in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $87.67.

NASDAQ APPF opened at $101.80 on Friday. AppFolio has a 52 week low of $51.15 and a 52 week high of $109.89. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of 181.79 and a beta of 1.26. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.71. The company’s 50-day simple moving average is $98.33.

AppFolio (NASDAQ:APPF) last released its earnings results on Thursday, May 2nd. The software maker reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.04). The firm had revenue of $57.10 million during the quarter, compared to analysts’ expectations of $56.77 million. AppFolio had a return on equity of 19.56% and a net margin of 9.46%. The company’s revenue was up 35.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.12 earnings per share. As a group, analysts forecast that AppFolio will post 0.55 EPS for the current fiscal year.

In other AppFolio news, CFO Ida Kathleen Kane sold 2,500 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $100.00, for a total transaction of $250,000.00. Following the completion of the sale, the chief financial officer now directly owns 2,500 shares of the company’s stock, valued at approximately $250,000. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William R. Rauth III sold 20,000 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $96.11, for a total transaction of $1,922,200.00. Following the sale, the director now directly owns 20,000 shares of the company’s stock, valued at $1,922,200. The disclosure for this sale can be found here. Insiders sold a total of 45,000 shares of company stock valued at $4,253,475 over the last three months. 42.46% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in AppFolio by 6.3% during the 4th quarter. BlackRock Inc. now owns 990,684 shares of the software maker’s stock valued at $58,668,000 after buying an additional 58,572 shares in the last quarter. Granite Investment Partners LLC grew its holdings in AppFolio by 18.3% during the 1st quarter. Granite Investment Partners LLC now owns 291,070 shares of the software maker’s stock valued at $23,111,000 after buying an additional 45,127 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in AppFolio by 24.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 268,322 shares of the software maker’s stock valued at $15,889,000 after buying an additional 52,387 shares in the last quarter. Northern Trust Corp grew its holdings in AppFolio by 1.7% during the 4th quarter. Northern Trust Corp now owns 234,344 shares of the software maker’s stock valued at $13,878,000 after buying an additional 3,882 shares in the last quarter. Finally, Brown Advisory Inc. purchased a new stake in AppFolio during the 4th quarter valued at approximately $10,469,000. 31.20% of the stock is owned by institutional investors and hedge funds.

About AppFolio

AppFolio, Inc provides industry-specific cloud-based software solutions for small and medium-sized businesses in the property management and legal industries. It offers AppFolio Property Manager, a cloud-based software solution for the real estate market that provides property managers of various sizes and tools and services designed to streamline their property management businesses, such as posting and tracking vacancies, leasing vacant properties, and accounting, as well as facilitating tenant, owner, and vendor communications.

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