AppFolio, Inc. (NASDAQ:APPF) Short Interest Update

AppFolio, Inc. (NASDAQ:APPF) was the target of a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 1,090,000 shares, an increase of 6.9% from the May 31st total of 1,020,000 shares. Based on an average daily trading volume, of 310,700 shares, the short-interest ratio is currently 3.5 days.

Insiders Place Their Bets

In other AppFolio news, major shareholder Maurice J. Duca sold 3,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $243.15, for a total transaction of $729,450.00. Following the sale, the insider now owns 17,491 shares in the company, valued at approximately $4,252,936.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Timothy K. Bliss sold 12,170 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $241.31, for a total transaction of $2,936,742.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Maurice J. Duca sold 3,000 shares of AppFolio stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $243.15, for a total value of $729,450.00. Following the transaction, the insider now owns 17,491 shares of the company’s stock, valued at approximately $4,252,936.65. The disclosure for this sale can be found here. Over the last quarter, insiders sold 118,091 shares of company stock valued at $27,953,693. Insiders own 9.15% of the company’s stock.

Hedge Funds Weigh In On AppFolio

A number of hedge funds have recently made changes to their positions in the company. Verdence Capital Advisors LLC lifted its stake in shares of AppFolio by 2.7% in the fourth quarter. Verdence Capital Advisors LLC now owns 2,114 shares of the software maker’s stock worth $366,000 after buying an additional 55 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of AppFolio by 589.5% during the 2nd 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. Harbor Capital Advisors Inc. grew its position in shares of AppFolio by 3.2% in the fourth quarter. Harbor Capital Advisors Inc. now owns 3,691 shares of the software maker’s stock valued at $639,000 after purchasing an additional 116 shares in the last quarter. Advisors Asset Management Inc. increased 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 valued at $44,000 after purchasing an additional 134 shares during the last quarter. Finally, Zeno Equity Partners LLP purchased a new position in AppFolio during the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 62.34% of the company’s stock.

AppFolio Stock Performance

AppFolio stock opened at $247.16 on Wednesday. The stock has a market capitalization of $8.95 billion, a P/E ratio of 119.40 and a beta of 0.80. The company’s fifty day moving average price is $236.38 and its 200 day moving average price is $220.96. AppFolio has a 1 year low of $164.29 and a 1 year high of $256.73.

AppFolio (NASDAQ:APPF) last released its earnings results on Thursday, April 25th. The software maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.09. AppFolio had a net margin of 11.38% and a return on equity of 13.51%. The business had revenue of $187.43 million during the quarter, compared to analysts’ expectations of $173.66 million. Sell-side analysts predict that AppFolio will post 2.85 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on APPF shares. Piper Sandler began coverage on AppFolio in a report on Monday, June 10th. They set an “overweight” rating and a $295.00 target price on the stock. Stephens reaffirmed an “overweight” rating and set a $241.00 target price on shares of AppFolio in a report on Friday, April 26th. KeyCorp increased their price target on shares of AppFolio from $264.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Finally, Keefe, Bruyette & Woods raised their price target on shares of AppFolio from $215.00 to $238.00 and gave the company a “market perform” rating in a research report on Friday, April 26th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $248.71.

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.