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

AppFolio, Inc. (NASDAQ:APPF) was the recipient of a large drop in short interest in 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 short-interest ratio is presently 2.2 days.

AppFolio Price Performance

APPF opened at $251.92 on Monday. The firm’s fifty day moving average price is $249.85 and its two-hundred day moving average price is $235.58. The company has a market capitalization of $9.15 billion, a price-to-earnings ratio of 70.17 and a beta of 0.87. AppFolio has a 1 year low of $172.98 and a 1 year high of $274.56.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.26. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The business had revenue of $206.00 million during the quarter, compared to the consensus estimate of $199.11 million. During the same period in the prior year, the firm posted $0.26 EPS. The firm’s quarterly revenue was up 24.5% compared to the same quarter last year. As a group, equities analysts anticipate that AppFolio will post 3.23 EPS for the current year.

Insiders Place Their Bets

In other AppFolio news, insider Matthew S. Mazza sold 5,090 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $236.24, for a total transaction of $1,202,461.60. Following the transaction, the insider now directly owns 28,266 shares in the company, valued at approximately $6,677,559.84. This represents a 15.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Maurice J. Duca sold 2,510 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $229.21, for a total transaction of $575,317.10. Following the transaction, the insider now owns 2,459 shares in the company, valued at $563,627.39. The trade was a 50.51 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,768 shares of company stock worth $5,744,891. Company insiders own 5.24% of the company’s stock.

Institutional Trading of AppFolio

A number of hedge funds have recently bought and sold shares of APPF. Blue Trust Inc. raised its stake in shares of AppFolio by 85.7% during the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock worth $29,000 after purchasing an additional 54 shares during the period. UMB Bank n.a. raised its position in AppFolio by 193.0% in 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 period. Northwestern Mutual Wealth Management Co. raised its position in 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 during the period. Quarry LP boosted its stake 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 acquiring an additional 142 shares during the last quarter. Finally, True Wealth Design LLC bought a new position in shares of AppFolio during the 3rd quarter valued at approximately $79,000. 85.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on APPF. KeyCorp lowered 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 downgraded shares of AppFolio from an “overweight” rating to a “neutral” rating and set a $265.00 price target for the company. in a research report on Monday, January 6th. Finally, Keefe, Bruyette & Woods downgraded shares of AppFolio from a “market perform” rating to an “underperform” rating and lowered their price objective for the stock from $255.00 to $193.00 in a report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $268.57.

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.