AppFolio (NASDAQ:APPF) Shares Pass Below 50 Day Moving Average – Time to Sell?

Shares of AppFolio, Inc. (NASDAQ:APPF) passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $232.76 and traded as low as $212.97. AppFolio shares last traded at $219.67, with a volume of 379,197 shares trading hands.

Analyst Ratings Changes

Several analysts have issued reports on APPF shares. UBS Group started coverage on AppFolio in a research report on Friday, December 12th. They set a “buy” rating and a $285.00 target price on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of AppFolio in a research report on Monday, December 29th. Keefe, Bruyette & Woods upgraded shares of AppFolio from a “market perform” rating to an “outperform” rating and set a $311.00 target price for the company in a report on Friday, October 24th. Wells Fargo & Company reissued a “buy” rating on shares of AppFolio in a research report on Thursday. Finally, DA Davidson reaffirmed a “buy” rating and issued a $325.00 price objective on shares of AppFolio in a research report on Wednesday, November 19th. Nine research analysts have rated the stock with a Buy rating, According to data from MarketBeat, AppFolio presently has an average rating of “Buy” and an average target price of $306.00.

AppFolio Price Performance

The stock’s fifty day simple moving average is $232.76 and its 200-day simple moving average is $251.33. The firm has a market cap of $7.89 billion, a PE ratio of 39.44 and a beta of 0.78.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, October 30th. The software maker reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.14). AppFolio had a return on equity of 25.97% and a net margin of 22.48%.The firm had revenue of $249.35 million during the quarter, compared to analysts’ expectations of $245.39 million. During the same quarter last year, the business earned $1.29 EPS. The business’s revenue was up 21.2% on a year-over-year basis. Analysts expect that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Insider Buying and Selling

In other AppFolio news, General Counsel Evan Pickering sold 334 shares of the company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $243.67, for a total value of $81,385.78. Following the sale, the general counsel directly owned 2,969 shares of the company’s stock, valued at approximately $723,456.23. This represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William Shane Trigg sold 3,947 shares of AppFolio stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $240.45, for a total value of $949,056.15. Following the transaction, the chief executive officer owned 51,530 shares of the company’s stock, valued at $12,390,388.50. The trade was a 7.11% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 8,745 shares of company stock worth $2,097,550. 4.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On AppFolio

Several institutional investors have recently made changes to their positions in the company. Highland Capital Management LLC acquired a new stake in shares of AppFolio during the 3rd quarter valued at about $1,435,000. Park Avenue Securities LLC purchased a new stake in shares of AppFolio in the second quarter valued at approximately $288,000. AGF Management Ltd. acquired a new position in shares of AppFolio during the 2nd quarter worth approximately $3,296,000. First Citizens Bank & Trust Co. lifted its position in shares of AppFolio by 263.0% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 4,556 shares of the software maker’s stock valued at $1,049,000 after buying an additional 3,301 shares in the last quarter. Finally, Callan Family Office LLC acquired a new stake in AppFolio in the 2nd quarter valued at $626,000. 85.19% of the stock is owned by hedge funds and other institutional investors.

About AppFolio

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.