AppFolio (NASDAQ:APPF) Sees Unusually-High Trading Volume - Here's Why

Shares of AppFolio, Inc. (NASDAQ:APPF - Get Free Report) saw unusually-high trading volume on Monday . Approximately 159,181 shares changed hands during trading, a decline of 40% from the previous session's volume of 267,105 shares.The stock last traded at $200.74 and had previously closed at $192.02.

Analysts Set New Price Targets

APPF has been the subject of several recent analyst reports. KeyCorp downgraded shares of AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 target price for the company. in a report on Friday, January 10th. Stephens reissued an "overweight" rating and issued a $295.00 price target on shares of AppFolio in a report on Friday, January 31st. Piper Sandler reiterated a "neutral" rating and set a $265.00 price objective on shares of AppFolio in a research report on Wednesday, April 23rd. William Blair restated an "outperform" rating on shares of AppFolio in a research report on Friday, January 31st. Finally, Keefe, Bruyette & Woods decreased their price target on shares of AppFolio from $210.00 to $205.00 and set an "underweight" rating on the stock in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $274.43.

AppFolio Stock Performance

The business's fifty day moving average price is $217.28 and its two-hundred day moving average price is $230.37. The stock has a market capitalization of $7.64 billion, a P/E ratio of 38.21 and a beta of 0.99.

AppFolio (NASDAQ:APPF - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The software maker reported $1.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.23 by ($0.02). The company had revenue of $217.70 million for the quarter, compared to analysts' expectations of $220.95 million. AppFolio had a net margin of 25.69% and a return on equity of 26.21%. The company's revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter last year, the company earned $1.05 earnings per share. As a group, analysts forecast that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Insider Buying and Selling

In other AppFolio news, CEO William Shane Trigg sold 3,501 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $217.27, for a total value of $760,662.27. Following the transaction, the chief executive officer now directly owns 83,824 shares in the company, valued at $18,212,440.48. This represents a 4.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alexander Wolf acquired 9,678 shares of AppFolio stock in a transaction on Thursday, February 13th. The shares were purchased at an average price of $214.81 per share, for a total transaction of $2,078,931.18. Following the completion of the acquisition, the director now directly owns 3,226 shares in the company, valued at $692,977.06. This trade represents a -150.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 5.24% of the stock is currently owned by corporate insiders.

Institutional Trading of AppFolio

Institutional investors and hedge funds have recently made changes to their positions in the company. Exchange Traded Concepts LLC raised its holdings in shares of AppFolio by 6.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 642 shares of the software maker's stock valued at $158,000 after purchasing an additional 40 shares in the last quarter. Independent Advisor Alliance increased its holdings in shares of AppFolio by 2.1% in the 4th quarter. Independent Advisor Alliance now owns 2,607 shares of the software maker's stock valued at $643,000 after acquiring an additional 53 shares during the period. Treasurer of the State of North Carolina raised its position in shares of AppFolio by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 9,960 shares of the software maker's stock worth $2,457,000 after acquiring an additional 60 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of AppFolio by 53.0% during the 1st quarter. Fifth Third Bancorp now owns 179 shares of the software maker's stock worth $39,000 after purchasing an additional 62 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in 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 last quarter. 85.19% of the stock is currently owned by institutional investors.

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.