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

AppFolio, Inc. (NASDAQ:APPF) was the target of a significant increase in short interest in April. As of April 15th, there was short interest totalling 1,130,000 shares, an increase of 49.5% from the March 31st total of 756,100 shares. Based on an average daily trading volume, of 325,100 shares, the days-to-cover ratio is presently 3.5 days.

AppFolio Stock Up 12.0 %

Shares of APPF traded up $26.10 during mid-day trading on Friday, hitting $242.75. The stock had a trading volume of 714,925 shares, compared to its average volume of 229,153. The company has a market cap of $8.71 billion, a PE ratio of 117.27 and a beta of 0.80. AppFolio has a fifty-two week low of $123.36 and a fifty-two week high of $256.73. The company’s fifty day simple moving average is $229.59 and its two-hundred day simple moving average is $205.11.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, January 25th. The software maker reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.29. The business had revenue of $171.83 million for the quarter, compared to the consensus estimate of $162.80 million. AppFolio had a return on equity of 14.51% and a net margin of 11.38%. Equities analysts expect that AppFolio will post 2.72 earnings per share for the current year.

Insider Activity

In other news, Director Timothy K. Bliss sold 10,000 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $227.24, for a total value of $2,272,400.00. Following the completion of the sale, the director now owns 51,070 shares in the company, valued at $11,605,146.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other AppFolio news, Director Olivia Nottebohm sold 989 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $241.75, for a total transaction of $239,090.75. Following the completion of the sale, the director now owns 1,909 shares in the company, valued at approximately $461,500.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Timothy K. Bliss sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $227.24, for a total value of $2,272,400.00. Following the sale, the director now owns 51,070 shares of the company’s stock, valued at approximately $11,605,146.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,489 shares of company stock worth $3,531,011. 9.15% of the stock is currently owned by corporate insiders.

Institutional Trading of AppFolio

Several hedge funds have recently made changes to their positions in APPF. Arcadia Investment Management Corp MI lifted its holdings in shares of AppFolio by 70.4% in the 3rd quarter. Arcadia Investment Management Corp MI now owns 138 shares of the software maker’s stock worth $25,000 after purchasing an additional 57 shares during the last quarter. Zeno Equity Partners LLP bought a new stake in shares of AppFolio in the 4th quarter worth approximately $30,000. USA Financial Formulas bought a new stake in shares of AppFolio in the 4th quarter worth approximately $59,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of AppFolio in the 4th quarter worth approximately $64,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of AppFolio in the 4th quarter worth approximately $85,000. Institutional investors own 62.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Stephens restated an “overweight” rating and set a $241.00 price objective on shares of AppFolio in a research note on Friday. KeyCorp raised their price objective on AppFolio from $264.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday. BTIG Research initiated coverage on AppFolio in a research report on Friday, January 19th. They issued a “buy” rating and a $215.00 target price for the company. Keefe, Bruyette & Woods lifted their target price on AppFolio from $215.00 to $238.00 and gave the stock a “market perform” rating in a research report on Friday. Finally, JPMorgan Chase & Co. lifted their target price on AppFolio from $228.00 to $237.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $241.00.

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.