AppFolio, Inc. (NASDAQ:APPF) Short Interest Down 29.6% in July

AppFolio, Inc. (NASDAQ:APPF) saw a significant decrease in short interest in the month of July. As of July 15th, there was short interest totalling 753,800 shares, a decrease of 29.6% from the June 30th total of 1,070,000 shares. Based on an average daily trading volume, of 290,600 shares, the short-interest ratio is presently 2.6 days.

Insider Transactions at AppFolio

In related news, insider Matthew S. Mazza sold 2,131 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $249.46, for a total transaction of $531,599.26. Following the transaction, the insider now directly owns 43,680 shares of the company’s stock, valued at approximately $10,896,412.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Matthew S. Mazza sold 2,131 shares of AppFolio stock in a transaction on Monday, May 13th. The shares were sold at an average price of $249.46, for a total transaction of $531,599.26. Following the sale, the insider now owns 43,680 shares of the company’s stock, valued at approximately $10,896,412.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Maurice J. Duca sold 876 shares of the business’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $252.82, for a total transaction of $221,470.32. Following the completion of the transaction, the insider now owns 7,100 shares in the company, valued at approximately $1,795,022. The disclosure for this sale can be found here. Insiders sold 130,444 shares of company stock valued at $31,124,559 over the last quarter. Company insiders own 9.15% of the company’s stock.

Hedge Funds Weigh In On AppFolio

Several hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its position in AppFolio by 497.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 43,552 shares of the software maker’s stock worth $7,545,000 after buying an additional 36,265 shares during the last quarter. American International Group Inc. raised its position in shares of AppFolio by 280.7% during the first quarter. American International Group Inc. now owns 36,367 shares of the software maker’s stock worth $8,973,000 after purchasing an additional 26,815 shares during the period. Texas Permanent School Fund Corp acquired a new stake in shares of AppFolio during the first quarter worth $4,415,000. Long Walk Management LP lifted its holdings in shares of AppFolio by 62.7% during the fourth quarter. Long Walk Management LP now owns 122,000 shares of the software maker’s stock valued at $21,135,000 after purchasing an additional 47,000 shares during the last quarter. Finally, Oberndorf William E acquired a new position in shares of AppFolio in the 4th quarter valued at $3,020,000. Institutional investors and hedge funds own 62.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Stephens reaffirmed an “overweight” rating and issued a $241.00 target price on shares of AppFolio in a research report on Friday, April 26th. Piper Sandler increased their price objective on shares of AppFolio from $295.00 to $300.00 and gave the company an “overweight” rating in a research note on Friday. KeyCorp raised their price objective on shares of AppFolio from $275.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday. StockNews.com upgraded shares of AppFolio from a “hold” rating to a “buy” rating in a research note on Friday. Finally, DA Davidson lifted their price target on AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $277.75.

AppFolio Stock Performance

Shares of NASDAQ APPF traded down $1.93 during midday trading on Monday, hitting $229.02. The company’s stock had a trading volume of 611,077 shares, compared to its average volume of 306,766. AppFolio has a 1-year low of $164.29 and a 1-year high of $274.56. The firm has a market cap of $8.29 billion, a P/E ratio of 111.57 and a beta of 0.80. The firm’s fifty day moving average price is $242.53 and its 200-day moving average price is $231.56.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, July 25th. The software maker reported $1.12 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.16. AppFolio had a return on equity of 27.39% and a net margin of 17.32%. The firm had revenue of $197.38 million for the quarter, compared to analyst estimates of $190.57 million. During the same period last year, the company earned ($0.53) earnings per share. The firm’s revenue for the quarter was up 34.2% on a year-over-year basis. As a group, research analysts predict that AppFolio will post 2.9 earnings per share 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.