AppFolio (NASDAQ:APPF) Shares Gap Down on Disappointing Earnings

AppFolio, Inc. (NASDAQ:APPF)’s share price gapped down prior to trading on Friday following a weaker than expected earnings announcement. The stock had previously closed at $253.58, but opened at $241.30. AppFolio shares last traded at $236.91, with a volume of 105,559 shares traded.

The software maker reported $0.58 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.34). AppFolio had a net margin of 17.26% and a return on equity of 30.64%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Keefe, Bruyette & Woods lowered AppFolio from a “market perform” rating to an “underperform” rating and cut their price objective for the stock from $255.00 to $193.00 in a research report on Tuesday, October 15th. Piper Sandler reiterated a “neutral” rating and issued a $265.00 price objective on shares of AppFolio in a research note on Friday. Finally, KeyCorp lowered shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 target price on the stock. in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $268.57.

Insider Activity at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 4,145 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $263.32, for a total value of $1,091,461.40. Following the completion of the sale, the chief executive officer now owns 73,682 shares in the company, valued at approximately $19,401,944.24. The trade was a 5.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Matthew S. Mazza sold 926 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $229.04, for a total transaction of $212,091.04. Following the transaction, the insider now owns 33,819 shares in the company, valued at approximately $7,745,903.76. This trade represents a 2.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,606 shares of company stock valued at $5,958,832 over the last three months. 5.24% of the stock is owned by corporate insiders.

Institutional Trading of AppFolio

A number of large investors have recently bought and sold shares of APPF. Tidal Investments LLC boosted its stake in shares of AppFolio by 2.9% during the third quarter. Tidal Investments LLC now owns 1,425 shares of the software maker’s stock worth $335,000 after buying an additional 40 shares during the period. Exchange Traded Concepts LLC lifted its position in AppFolio by 6.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 642 shares of the software maker’s stock worth $158,000 after acquiring an additional 40 shares during the period. Blue Trust Inc. grew its stake in shares of AppFolio by 85.7% in the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock valued at $29,000 after purchasing an additional 54 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of AppFolio by 11.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 616 shares of the software maker’s stock valued at $152,000 after purchasing an additional 65 shares during the period. Finally, Northwest & Ethical Investments L.P. raised its stake in shares of AppFolio by 16.0% during the third quarter. Northwest & Ethical Investments L.P. now owns 725 shares of the software maker’s stock worth $171,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 85.19% of the company’s stock.

AppFolio Stock Down 8.1 %

The stock has a market capitalization of $8.46 billion, a price-to-earnings ratio of 65.15 and a beta of 0.87. The company has a fifty day moving average of $253.99 and a two-hundred day moving average of $235.99.

About AppFolio

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry in the United States. The company provides a cloud-based platform that enables users to automate and optimize common workflows; tools that assist with leasing, maintenance, and accounting; and other technology and services offered by third parties.