AppFolio (NASDAQ:APPF) Shares Gap Up After Strong Earnings

Shares of AppFolio, Inc. (NASDAQ:APPF - Get Free Report) gapped up prior to trading on Friday following a better than expected earnings announcement. The stock had previously closed at $192.07, but opened at $210.82. AppFolio shares last traded at $231.79, with a volume of 264,087 shares changing hands.

The software maker reported $1.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.03 by $0.26. The firm had revenue of $206.00 million for the quarter, compared to the consensus estimate of $199.11 million. AppFolio had a return on equity of 27.39% and a net margin of 17.32%. The company's revenue for the quarter was up 24.5% on a year-over-year basis. During the same period last year, the business posted $0.26 EPS.

Wall Street Analyst Weigh In

APPF has been the topic of several recent research reports. DA Davidson increased their price objective on shares of AppFolio from $285.00 to $300.00 and gave the stock a "buy" rating in a research note on Friday, July 26th. KeyCorp cut their price objective on shares of AppFolio from $300.00 to $252.00 and set an "overweight" rating for the company in a research report on Friday. StockNews.com lowered AppFolio from a "buy" rating to a "hold" rating in a research note on Thursday, August 22nd. Keefe, Bruyette & Woods lowered AppFolio from a "market perform" rating to an "underperform" rating and cut their price target for the company from $255.00 to $193.00 in a report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. raised their price objective on AppFolio from $260.00 to $328.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, AppFolio has a consensus rating of "Moderate Buy" and an average price target of $261.75.

Insider Buying and Selling at AppFolio

In related news, major shareholder Maurice J. Duca sold 200 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $232.52, for a total value of $46,504.00. Following the completion of the transaction, the insider now owns 27,568 shares of the company's stock, valued at approximately $6,410,111.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Maurice J. Duca sold 200 shares of the business's stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $232.52, for a total transaction of $46,504.00. Following the transaction, the insider now owns 27,568 shares of the company's stock, valued at approximately $6,410,111.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William Shane Trigg sold 3,501 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $218.98, for a total value of $766,648.98. Following the sale, the chief executive officer now owns 81,699 shares in the company, valued at $17,890,447.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,852 shares of company stock worth $4,100,322 over the last 90 days. 9.15% of the stock is owned by insiders.

Institutional Trading of AppFolio

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in shares of AppFolio by 85.7% in the third quarter. Blue Trust Inc. now owns 117 shares of the software maker's stock worth $29,000 after buying an additional 54 shares during the period. GAMMA Investing LLC lifted its position in shares of AppFolio by 589.5% during the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker's stock worth $32,000 after purchasing an additional 112 shares during the last quarter. CWM LLC boosted its stake in shares of AppFolio by 238.6% during the second quarter. CWM LLC now owns 149 shares of the software maker's stock valued at $36,000 after purchasing an additional 105 shares during the period. Advisors Asset Management Inc. grew its holdings in shares of AppFolio by 291.3% in the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker's stock worth $44,000 after purchasing an additional 134 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in AppFolio by 688.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker's stock worth $52,000 after buying an additional 186 shares during the period. 62.34% of the stock is owned by hedge funds and other institutional investors.

AppFolio Stock Performance

The company has a market cap of $7.69 billion, a P/E ratio of 103.60 and a beta of 0.81. The business's fifty day moving average is $223.73 and its two-hundred day moving average is $231.12.

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.