AppFolio (NASDAQ:APPF) Stock Rating Lowered by TheStreet

TheStreet cut shares of AppFolio (NASDAQ:APPF) from a b- rating to a c+ rating in a report released on Monday morning, TheStreetRatingsTable reports.

A number of other brokerages also recently commented on APPF. BidaskClub downgraded shares of AppFolio from a buy rating to a hold rating in a research report on Thursday, March 12th. Zacks Investment Research downgraded shares of AppFolio from a buy rating to a hold rating in a research report on Tuesday, December 31st. Finally, DA Davidson raised shares of AppFolio from an underperform rating to a neutral rating in a report on Tuesday, March 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $100.03.

Shares of APPF traded up $4.94 during midday trading on Monday, reaching $106.00. The stock had a trading volume of 142,520 shares, compared to its average volume of 135,129. The firm has a 50 day simple moving average of $118.51 and a 200-day simple moving average of $109.31. AppFolio has a one year low of $76.04 and a one year high of $148.07. The firm has a market cap of $3.55 billion, a PE ratio of 103.92 and a beta of 1.15. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.61.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Monday, March 2nd. The software maker reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.09. AppFolio had a net margin of 14.17% and a return on equity of 30.84%. The company had revenue of $67.36 million during the quarter, compared to the consensus estimate of $66.61 million. During the same quarter last year, the firm posted $0.07 EPS. The company’s quarterly revenue was up 33.7% on a year-over-year basis. As a group, research analysts forecast that AppFolio will post 0.47 EPS for the current fiscal year.

In related news, CTO Jonathan Walker sold 12,761 shares of AppFolio stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $140.56, for a total transaction of $1,793,686.16. Following the completion of the sale, the chief technology officer now owns 16,489 shares of the company’s stock, valued at approximately $2,317,693.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William R. Rauth III sold 10,112 shares of AppFolio stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $122.25, for a total transaction of $1,236,192.00. Following the sale, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $2,445,000. The disclosure for this sale can be found here. Insiders own 42.46% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Nuveen Asset Management LLC boosted its holdings in AppFolio by 9.4% in the 4th quarter. Nuveen Asset Management LLC now owns 61,962 shares of the software maker’s stock valued at $6,813,000 after purchasing an additional 5,319 shares during the period. Norges Bank bought a new stake in AppFolio in the 4th quarter valued at about $1,419,000. Sunbelt Securities Inc. bought a new stake in AppFolio in the 4th quarter valued at about $8,961,000. Geode Capital Management LLC boosted its holdings in AppFolio by 6.3% in the 4th quarter. Geode Capital Management LLC now owns 206,853 shares of the software maker’s stock valued at $22,742,000 after purchasing an additional 12,208 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in AppFolio by 18.0% in the 4th quarter. Janus Henderson Group PLC now owns 11,813 shares of the software maker’s stock valued at $1,299,000 after purchasing an additional 1,801 shares during the period. 37.32% of the stock is owned by institutional investors and hedge funds.

AppFolio Company Profile

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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