AppFolio, Inc. (NASDAQ:APPF) Short Interest Down 5.7% in December

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

Insider Buying and Selling at AppFolio

In related news, insider Matthew S. Mazza sold 926 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $229.04, for a total value of $212,091.04. Following the completion of the transaction, the insider now directly owns 33,819 shares in the company, valued at $7,745,903.76. The trade was a 2.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William Shane Trigg sold 3,500 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $229.85, for a total value of $804,475.00. Following the completion of the transaction, the chief executive officer now owns 74,327 shares of the company’s stock, valued at $17,084,060.95. This represents a 4.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,768 shares of company stock worth $5,744,891 over the last three months. Company insiders own 5.24% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. increased its stake in shares of AppFolio by 7.6% during the second quarter. American Century Companies Inc. now owns 3,631 shares of the software maker’s stock worth $888,000 after acquiring an additional 257 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in AppFolio by 58.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,523 shares of the software maker’s stock valued at $378,000 after buying an additional 559 shares during the last quarter. Dimensional Fund Advisors LP increased its position in AppFolio by 18.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 84,151 shares of the software maker’s stock worth $20,583,000 after purchasing an additional 13,110 shares in the last quarter. Mutual of America Capital Management LLC lifted its stake in shares of AppFolio by 8.0% during the second quarter. Mutual of America Capital Management LLC now owns 12,015 shares of the software maker’s stock valued at $2,939,000 after buying an additional 887 shares during the period. Finally, Amalgamated Bank grew its position in shares of AppFolio by 1.3% in the second quarter. Amalgamated Bank now owns 10,945 shares of the software maker’s stock valued at $2,677,000 after purchasing an additional 144 shares during the period. Hedge funds and other institutional investors own 85.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on APPF shares. KeyCorp downgraded shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price target on the stock. in a research report on Friday, January 10th. Keefe, Bruyette & Woods lowered shares of AppFolio from a “market perform” rating to an “underperform” rating and dropped their target price for the stock from $255.00 to $193.00 in a research report on Tuesday, October 15th. Finally, Piper Sandler cut AppFolio from an “overweight” rating to a “neutral” rating and set a $265.00 price objective on the stock. in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $261.88.

AppFolio Trading Down 0.1 %

APPF stock opened at $251.92 on Friday. AppFolio has a 12-month low of $172.98 and a 12-month high of $274.56. The business’s 50-day moving average is $249.85 and its 200 day moving average is $235.68. The stock has a market cap of $9.15 billion, a price-to-earnings ratio of 70.17 and a beta of 0.87.

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

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.