Short Interest in AppFolio, Inc. (NASDAQ:APPF) Decreases By 5.7%

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

AppFolio Trading Up 2.3 %

APPF traded up $5.48 on Monday, reaching $239.39. The stock had a trading volume of 184,146 shares, compared to its average volume of 277,346. The business’s 50-day moving average price is $253.82 and its two-hundred day moving average price is $235.40. AppFolio has a 12-month low of $189.01 and a 12-month high of $274.56. The company has a market cap of $8.70 billion, a P/E ratio of 42.79 and a beta of 0.88.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Thursday, January 30th. The software maker reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.34). AppFolio had a return on equity of 26.21% and a net margin of 25.69%. As a group, analysts predict that AppFolio will post 4.21 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Matthew S. Mazza sold 838 shares of AppFolio stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $255.30, for a total value of $213,941.40. Following the completion of the sale, the insider now directly owns 22,701 shares in the company, valued at $5,795,565.30. This trade represents a 3.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William Shane Trigg sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $229.85, for a total transaction of $804,475.00. Following the transaction, the chief executive officer now owns 74,327 shares in the company, valued at $17,084,060.95. The trade was a 4.50 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,606 shares of company stock valued at $5,958,832. 5.24% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AppFolio

Institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. grew 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 valued at $29,000 after purchasing an additional 54 shares during the period. UMB Bank n.a. boosted its holdings in AppFolio by 193.0% in the 4th quarter. UMB Bank n.a. now owns 167 shares of the software maker’s stock worth $41,000 after buying an additional 110 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake 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 buying an additional 186 shares in the last quarter. Quarry LP raised its holdings in shares of AppFolio by 147.9% during the second quarter. Quarry LP now owns 238 shares of the software maker’s stock valued at $58,000 after acquiring an additional 142 shares during the last quarter. Finally, True Wealth Design LLC purchased a new position in shares of AppFolio in the third quarter valued at approximately $79,000. Institutional investors and hedge funds own 85.19% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on APPF. KeyCorp downgraded AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price target on the stock. in a research note on Friday, January 10th. Piper Sandler reiterated a “neutral” rating and issued a $265.00 price target on shares of AppFolio in a report on Friday. Stephens restated an “overweight” rating and set a $295.00 price objective on shares of AppFolio in a research note on Friday. Keefe, Bruyette & Woods cut shares of AppFolio from a “market perform” rating to an “underperform” rating and reduced their target price for the stock from $255.00 to $193.00 in a report on Tuesday, October 15th. Finally, William Blair reaffirmed an “outperform” rating on shares of AppFolio in a report on Friday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $276.29.

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.