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

AppFolio, Inc. (NASDAQ:APPF) was the recipient of a significant drop in short interest during the month of December. As of December 31st, there was short interest totalling 485,300 shares, a drop of 5.7% from the December 15th total of 514,900 shares. Based on an average trading volume of 220,600 shares, the days-to-cover ratio is presently 2.2 days.

Wall Street Analysts Forecast Growth

APPF has been the topic of a number of research analyst reports. KeyCorp lowered shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price target on the stock. in a report on Friday, January 10th. Piper Sandler cut AppFolio from an “overweight” rating to a “neutral” rating and set a $265.00 target price on the stock. in a report on Monday, January 6th. Finally, Keefe, Bruyette & Woods downgraded AppFolio from a “market perform” rating to an “underperform” rating and lowered their price target for the company from $255.00 to $193.00 in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $261.88.

Insider Buying and Selling

In other news, CEO William Shane Trigg sold 4,145 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $263.32, for a total transaction of $1,091,461.40. Following the completion of the transaction, the chief executive officer now owns 73,682 shares of the company’s stock, valued at $19,401,944.24. This represents a 5.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Matthew S. Mazza sold 926 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $229.04, for a total transaction of $212,091.04. Following the completion of the sale, the insider now directly owns 33,819 shares in the company, valued at $7,745,903.76. This represents a 2.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,768 shares of company stock worth $5,744,891. 5.24% of the stock is owned by insiders.

Institutional Trading of AppFolio

A number of hedge funds have recently made changes to their positions in APPF. Blue Trust Inc. grew its holdings in AppFolio by 85.7% during the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock valued at $29,000 after purchasing an additional 54 shares in the last quarter. UMB Bank n.a. increased its position in shares of AppFolio by 193.0% during the fourth quarter. UMB Bank n.a. now owns 167 shares of the software maker’s stock worth $41,000 after acquiring an additional 110 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of AppFolio by 688.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock worth $52,000 after acquiring an additional 186 shares in the last quarter. Quarry LP boosted its holdings in AppFolio by 147.9% in the second quarter. Quarry LP now owns 238 shares of the software maker’s stock valued at $58,000 after purchasing an additional 142 shares during the last quarter. Finally, True Wealth Design LLC purchased a new stake in AppFolio during the 3rd quarter worth approximately $79,000. Hedge funds and other institutional investors own 85.19% of the company’s stock.

AppFolio Trading Down 0.1 %

Shares of NASDAQ APPF opened at $251.92 on Friday. The stock has a fifty day moving average price of $249.85 and a 200 day moving average price of $235.76. AppFolio has a 12-month low of $172.98 and a 12-month high of $274.56. The company has a market cap of $9.15 billion, a P/E ratio of 70.17 and a beta of 0.87.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.26. The business had revenue of $206.00 million during the quarter, compared to analyst estimates of $199.11 million. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The company’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.26 earnings per share. On average, sell-side analysts forecast that AppFolio will post 3.23 EPS for the current fiscal year.

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.