AppFolio (NASDAQ:APPF) Sees Unusually-High Trading Volume - What's Next?

AppFolio, Inc. (NASDAQ:APPF - Get Free Report) saw strong trading volume on Monday . 159,181 shares traded 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.

Wall Street Analysts Forecast Growth

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

AppFolio Stock Up 2.8 %

The company has a market cap of $7.19 billion, a PE ratio of 35.22 and a beta of 0.86. The firm has a 50 day simple moving average of $218.06 and a 200-day simple moving average of $230.97.

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

Insiders Place Their Bets

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

Institutional Trading of AppFolio

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in AppFolio by 3.8% in the fourth quarter. Vanguard Group Inc. now owns 2,495,527 shares of the software maker's stock valued at $615,696,000 after purchasing an additional 91,174 shares during the period. AQR Capital Management LLC grew its stake in AppFolio by 43.2% in the 4th quarter. AQR Capital Management LLC now owns 655,625 shares of the software maker's stock valued at $161,756,000 after acquiring an additional 197,700 shares during the period. FMR LLC increased its holdings in AppFolio by 881.2% in the 4th quarter. FMR LLC now owns 597,485 shares of the software maker's stock worth $147,411,000 after acquiring an additional 536,591 shares in the last quarter. Gilder Gagnon Howe & Co. LLC raised its position in AppFolio by 4.7% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 572,917 shares of the software maker's stock worth $141,350,000 after acquiring an additional 25,566 shares during the period. Finally, Lord Abbett & CO. LLC lifted its holdings in AppFolio by 82.2% during the third quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker's stock valued at $108,116,000 after purchasing an additional 207,204 shares in the last quarter. 85.19% of the stock is owned by hedge funds and other institutional investors.

AppFolio Company Profile

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.

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