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

AppFolio, Inc. (NASDAQ:APPF) was the target of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 532,800 shares, a decrease of 6.1% from the October 15th total of 567,700 shares. Based on an average daily trading volume, of 218,100 shares, the short-interest ratio is presently 2.4 days.

AppFolio Stock Performance

Shares of APPF opened at $230.02 on Monday. The company has a market capitalization of $8.36 billion, a price-to-earnings ratio of 64.07 and a beta of 0.83. The company’s 50 day simple moving average is $221.86 and its 200 day simple moving average is $231.16. AppFolio has a 1 year low of $164.29 and a 1 year high of $274.56.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on APPF shares. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $300.00 price objective on shares of AppFolio in a report on Friday, July 26th. KeyCorp cut their price objective on AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. StockNews.com lowered shares of AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Piper Sandler cut their price target on shares of AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Finally, DA Davidson boosted their price objective on shares of AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $261.75.

Insider Activity

In other news, major shareholder Maurice J. Duca sold 2,968 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $234.87, for a total value of $697,094.16. Following the completion of the sale, the insider now directly owns 24,500 shares of the company’s stock, valued at approximately $5,754,315. This represents a 10.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Matthew S. Mazza sold 5,090 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $236.24, for a total transaction of $1,202,461.60. Following the completion of the sale, the insider now directly owns 28,266 shares of the company’s stock, valued at $6,677,559.84. The trade was a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,796 shares of company stock valued at $4,177,209. Insiders own 5.24% of the company’s stock.

Institutional Investors Weigh In On AppFolio

Large investors have recently made changes to their positions in the business. Blue Trust Inc. increased its position 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 acquiring an additional 54 shares in the last quarter. GAMMA Investing LLC grew its holdings in 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 acquiring an additional 112 shares in the last quarter. CWM LLC grew its holdings in AppFolio by 238.6% during the 2nd quarter. CWM LLC now owns 149 shares of the software maker’s stock worth $36,000 after acquiring an additional 105 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in AppFolio by 291.3% during the 1st quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock worth $44,000 after acquiring an additional 134 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in AppFolio by 688.9% during the 2nd 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. Institutional investors and hedge funds own 62.34% of the company’s stock.

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.